DOCSLIB.ORG

VARIFLEX LS Form 485BPOS Filed 2021-04-30

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
VARIFLEX LS Form 485BPOS Filed 2021-04-30 SECURITIES AND EXCHANGE COMMISSION FORM 485BPOS Post-effective amendments [Rule 485(b)] Filing Date: 2021-04-30 SEC Accession No. 0001821268-21-000186 (HTML Version on secdatabase.com) FILER VARIFLEX LS Mailing Address Business Address SECURITY BENEFIT LIFE SECURITY BENEFIT LIFE CIK:932020| IRS No.: 480409770 | State of Incorp.:KS | Fiscal Year End: 1231 INSURANCE CO INSURANCE CO Type: 485BPOS | Act: 40 | File No.: 811-08836 | Film No.: 21878975 ONE SECURITY BENEFIT ONE SECURITY BENEFIT PLACE PLACE TOPEKA KS 66636-0001 TOPEKA KS 66636-0001 7854383000 VARIFLEX LS Mailing Address Business Address SECURITY BENEFIT LIFE SECURITY BENEFIT LIFE CIK:932020| IRS No.: 480409770 | State of Incorp.:KS | Fiscal Year End: 1231 INSURANCE CO INSURANCE CO Type: 485BPOS | Act: 33 | File No.: 033-85592 | Film No.: 21878974 ONE SECURITY BENEFIT ONE SECURITY BENEFIT PLACE PLACE TOPEKA KS 66636-0001 TOPEKA KS 66636-0001 7854383000 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document File No. 033-85592 Filed on: April 30, 2021 File No. 811-08836 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-4 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ☐ Pre-Effective Amendment No. ☐ Post-Effective Amendment No. 29 ☒ REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 ☐ Amendment No. 48 ☒ (Check appropriate box or boxes) SBL VARIABLE ANNUITY ACCOUNT VIII (Variflex LS) (Exact Name of Registrant) Security Benefit Life Insurance Company (Name of Depositor) One Security Benefit Place, Topeka, Kansas 66636-0001 (Address of Depositor’s Principal Executive Offices) (785) 438-3000 (Depositor’s Telephone Number, Including Area Code) Chris Swickard, Associate General Counsel Security Benefit Life Insurance Company One Security Benefit Place, Topeka, KS 66636-0001 (Name and Address of Agent for Service) Approximate Date of Proposed Public Offering: As soon as practicable after the effective date of this Registration Statement. It is proposed that this filing will become effective (check appropriate box): ☐ immediately upon filing pursuant to paragraph (b) ☒ on May 1, 2021, pursuant to paragraph (b) ☐ 60 days after filing pursuant to paragraph (a)(1) ☐ on May 1, 2021, pursuant to paragraph (a)(1) of rule 485 under the Securities Act. If appropriate, check the following box: ☐ this post-effective amendment designates a new effective date for a previously filed post-effective amendment. Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Prospectus VARIFLEX ® LS VARIABLE ANNUITY May 1, 2021 Important Privacy Notice Included See Back Cover Variable annuity contracts issued by Security Benefit Life Insurance Company and offered by Security Distributors, LLC. V6911 32-69114-00 2021/05/01 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document VARIFLEX® LS VARIABLE ANNUITY Individual Flexible Purchase Payment Deferred Variable Annuity Contract SBL Variable Annuity Account VIII Issued By: Mailing Address: Security Benefit Life Insurance Company Security Benefit Life Insurance Company One Security Benefit Place P.O. Box 750497 Topeka, Kansas 66636-0001 Topeka, Kansas 66675-0497 1-800-888-2461 www.securitybenefit.com This Prospectus describes the Variflex LS Variable Annuity—an individual flexible purchase payment deferred variable annuity contract (the “Contract”) offered by Security Benefit Life Insurance Company (the “Company”). The Contract is available for individuals as a non‑tax qualified contract. The Contract is also available for individuals in connection with a retirement plan qualified under Section 401, 402A, 403(b), 408, 408A or 457 of the Internal Revenue Code. The Contract may be available through third-party financial intermediaries who charge an advisory fee for their services. This fee is in addition to Contract fees and expenses. If you elect to pay the advisory fee from your Contract Value, then this deduction will reduce the death benefit, perhaps significantly, and may be subject to federal and state income taxes and a 10% federal penalty tax. The Contract is designed to give you flexibility in planning for retirement and other financial goals. This Prospectus is used with both prospective purchasers and current Contract Owners. You may allocate your Purchase Payments and Contract Value to one or more of the Subaccounts that comprise a separate account of the Company called the SBL Variable Annuity Account VIII (the “Separate Account”), or to the Fixed Account (if it is available under your Contract). Each Subaccount invests in a corresponding mutual fund (each, an “Underlying Fund”). The Underlying Funds currently available under the Contract are: This Prospectus sets forth information about the Contract and the Separate Account that you should know before purchasing the Contract. This Prospectus should be kept for future reference. Additional information about certain investment products, including variable annuities, has been prepared by the SEC’s staff and is available at Investor.gov . If you are a new investor in the Contract, you may cancel your Contract within 10 days of receiving it without paying fees or penalties. In some states, this cancellation period may be longer. Upon cancellation, you will receive either a full refund of the amount you paid with your application or your total Contract Value. You should review this Prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply. Beginning on January 1, 2021, as permitted by regulations adopted by the SEC, paper copies of the shareholder reports for Underlying Funds available under your Contract will no longer be sent by mail, unless you specifically request paper copies of the reports from the Company. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report. You may elect to receive all future reports in paper free of charge. You can inform the Company that you wish to continue receiving paper copies of your shareholder reports by calling 1-800-888-2461. Your election to receive reports in paper will apply to all Underlying Funds available under your Contract. The Securities and Exchange Commission (“SEC”) has not approved or disapproved these securities or determined if this Prospectus is truthful or complete. Any representation to the contrary is a criminal offense. Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document The Contract is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The value of your Contract can go up and down and you could lose money. Date: May 1, 2021 V6911 32-69114-00 2021/05/01 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Page Definitions 4 Important Information You Should Consider About the Contract 5 Overview of the Contract 7 Purpose of the Contract 7 Phases of the Contract 8 Contract Features 8 Additional Services 8 Fee Table 9 Transaction Expenses 9 Annual Contract Expenses 9 Annual Underlying Fund Expenses 9 Example 10 Principal Risks of Investing in the Contract 10 Risk of Investment Loss 10 Short-Term Investment Risk/Withdrawal Risk 10 Subaccount Risk 10 Managed Volatility Fund Risk 11 Purchase Payment Risk 11 Financial Strength and Claims-Paying Ability Risk 11 Cybersecurity and Business Disruption Risk 11 Tax Consequences Risk 11 Advisory Fee Deduction Risk 11 Information About the Company, the Separate Account, and the Underlying Funds 11 Security Benefit Life Insurance Company 11 Published Ratings 12 Separate Account 12 Underlying Funds 12 Services and Administration 14 Charges and Deductions 14 Premium Tax Charge 14 Deduction of Advisory Fees 15 Base Contract Expenses 15 Mortality and Expense Risk Charge 15 Administrative Charge 15 Loan Interest Charge 16 Other Charges 16 Variations in Charges 16 Underlying Fund Expenses 16 The Contract 16 General 16 Important Information About Your Benefits Under the Contract 17 Application for a Contract 17 Purchase Payments 17 Allocation of Purchase Payments 18 Dollar Cost Averaging Option 19 Asset Reallocation Option 20 Transfers of Contract Value 20 Contract Value 23 Determination of Contract Value 24 Cut-Off Times 24 Full and Partial Withdrawals 24 Withdrawals to Pay Advisory Fees 25 Systematic Withdrawals 26 Free-Look Right 26 Death Benefit 26 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Distribution Requirements 29 Death of the Annuitant 29 Benefits Under the Contract 29 Annuity Period 31 General 31 Annuity Options 31 Selection of an Option 32 The Fixed Account 33 Interest 33 Death Benefit 34 Contract Charges 34 Transfers and Withdrawals from the Fixed Account 34 Payments from the Fixed Account 35 More About the Contract 35 Ownership 35 Designation and Change of Beneficiary 35 Dividends 35 Payments from the Separate Account 35 Proof of Age and Survival 36 2 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Page Misstatements 36 Cyber Security and Certain Business Continuity Risks 36 Loans 36 Restrictions on Withdrawals
Load more

Recommended publications
  • Top 20 Music Tech Sites and Devices
    Top 20 Online Music Websites for 2020 • 6:30pm – 7:30pm log in and participate live online audience Go To: https://kslib.zoom.us/j/561178181 The recording of this presentation will be online after the 18th @ https://kslib.info/1180/Digital-Literacy---Tech-Talks The previous presentations are also available online at that link Presenters: Nathan Carr, IT Supervisor, of the Newton Public Library and Randy Pauls Reasons to start your research at your local Library http://www.districtdispatch.org/wp-content/uploads/2012/03/triple_play_web.png 1. Protect your computer • A computer should always have the most recent updates installed for spam filters, anti-virus and anti-spyware software and a secure firewall. http://cdn.greenprophet.com/wp-content/uploads/2012/04/frying-pan-kolbotek-neoflam-560x475.jpg Types of Music Websites Music Blogs/Magazines/Forums: Talk about music. Formats, Artists, Styles, Instruments, Histories, events etc. Music Databases: Look up information about music related topics Pay Music Download Websites Free Music Download Websites P2P Music Download Websites Music on Demand Sites Online Music Broadcasts Making online music Live Music Event Promotion/Ticket Sales Music Blogs/Magazines/Forums: Talk about music. Formats, Artists, Styles, Instruments, Histories, events etc Blogs Magazines Forums Histories https://www.mi.edu/in-the-know/11-music-blogs-follow-2019/ http://www.tenthousandhoursmusic.com/blog/top-10-music-publications https://www.hypebot.com/hypebot/2019/09/6-great-online-music-forums-to-visit-when-youre-caught-in-a-jam.html
    [Show full text]
  • Eldridge Industries Announces $1.36 Billion Equity Investment Greenwich
    Eldridge Industries Announces $1.36 Billion Equity Investment Greenwich, CT, April 15, 2019 — Eldridge Industries (“Eldridge” or “the Company”), a private investment Firm, today announced the closing of $1.36 billion of common equity issued to a partnership owned substantially by Swiss businessman and philanthropist, Hansjörg Wyss, and Eldridge Co-Founder, CEO and controlling- member, Todd Boehly. This marks the second investment the Wyss and Boehly partnership have made into Eldridge. The new proceeds will Further capitalize Eldridge and will drive strategic growth across the Company’s businesses. “The new capital raised is a testament to our Company’s positive trajectory, strengthens our balance sheet, and positions us to further invest in our initiatives,” said Boehly. “We believe this additional capital will beneFit all stakeholders oF our businesses and will provide Eldridge with additional resources to pursue investments and acquisitions.” Eldridge has invested across diversiFied industries and has been the primary capital support For Kansas-based insurer, Security Benefit. Through an alignment of interests between Eldridge and its management teams, many of Eldridge’s businesses have achieved signiFicant milestones, including: • Security Benefit Marks 127th Anniversary: Security Benefit, a leader in the U.S. retirement savings market, celebrated its 127th anniversary in February 2019. In September 2018, S&P afFirmed the A- corporate credit rating oF Security Benefit, reflecting the business’s balance sheet strength, superior operating perFormance, business profile and enterprise risk management. As oF year-end 2018, Security Benefit had approximately $27 billion oF general account assets with approximately $3 billion oF statutory capital. • CBAM Closes Ninth CLO: CBAM, an SEC-registered investment manager with $11 billion in assets under management, closed its ninth collateralized loan obligation (“CLO”) in February 2019, bringing its total CLO issuance to $9 billion since its First closing in June 2017.
    [Show full text]
  • Milken Institute Global Conference from Theappstore Orgoogleplay
    MISSION STATEMENT Our mission is to increase global prosperity by advancing collaborative solutions that widen access to capital, create jobs and improve health. We do this through independent, data-driven research, action-oriented meetings, and meaningful policy initiatives. 1250 Fourth Street 1101 New York Avenue NW, Suite 620 137 Market Street #10-02 Santa Monica, CA 90401 Washington, DC 20005 Singapore 048943 Phone: 310-570-4600 Phone: 202-336-8900 Phone: 65-9457-0212 #MIGLOBAL AGENDA | LOS ANGELES | APRIL 28 - MAY 1 E-mail: [email protected] • www.milkeninstitute.org download the Global Conference mobileapp download theGlobalConference descriptions and up-to-date programming information, information, descriptions andup-to-dateprogramming AT YOUR FINGER TIPS YOUR AT To find complete speaker biographies, panel findcompletespeakerbiographies, panel To SEE: requests andconnectwithparticipants requests CONNECT: speaker biographies,andvenuemaps Milken Institute Global Conference Global Institute Milken from the App Store orGooglePlay. theAppStore from CUSTOMIZE: the full agenda, panel descriptions, the fullagenda,paneldescriptions, and personalschedule opt-in to make meeting opt-in tomakemeeting your profile your profile MIGlobal WILSHIRE BOULEVARD WILSHIRE ENTRANCE 11 12 13 14 15 16 SALES & CATERING WELLNESS GARDEN CORPORATE EVENTS 21 CA WILSHIRE GARDEN TERRACE LOBBY EXECUTIVE GIFT SHOP BAR 17 18 19 20 OFFICES 4 Networking Areas 8 PAVILION LOUNGE VALET 22 7 5 Pavilion Lounge 9 6 Lobby Bar 10 Wilshire Garden Circa 55 (Lower Level)
    [Show full text]
  • Todd Boehly Makes Money by Thinking Inside the Box
    %THE DOW JONES BUSINESS AND FINANCIAL WEEKLY www.barrons.com APRIL 12, 2019 A Michael Milken protégé mixes annuities with stakes in the Los Angeles Dodgers and Hollywood Reporter. Todd Boehly Makes Money by Thinking Inside the Box By Mary Childs Photograph by Cole Wilson Todd Boehly’s visit to Topeka, Kan., wasn’t going as planned. It was one of his earlier trips in his negotiations to buy life insurer Security Benefit, but one dark morning in 2010 after his cab dropped him off, he found that the doors of his hotel did not open. The front desk was empty, his cab gone. A managing partner of the investment firm Guggenheim Partners, he walked across the highway to another hotel and took its last available room. But it reeked of smoke. So, wrapping himself in the hotel sheets, he walked outside to a park bench, laid down, and closed his eyes. That didn’t work either, so he went to Security Benefit’s offices at 5 a.m. and waited outside for it to open. On his next trip Boehly (pronounced “BO-lee”) stayed at the Eldridge Hotel, a 30-minute drive away in Lawrence, for a more reliable outcome. Boehly not only bought Security Benefit for Guggen- The simple version of Boehly’s method is that he builds heim that year, but he eventually also purchased the insurer a box and then puts assets in it. from his former employer. It’s now the center of a sprawl- “Most things are boxes that own things. And it’s not the ing constellation of investments overseen by Boehly’s firm box itself that’s good or bad—it’s what’s in the box,” Boehly Eldridge Industries.
    [Show full text]
  • William & Mary Ties Strengthen the Team Behind a New Sports And
    STRONG BONDS William & Mary ties strengthen the team behind a new sports and entertainment empire. BY TINA ESHLEMAN PHOTO: ADAM EWING ADAM PHOTO: 26 W&M ALUMNI MAGAZINE WMALUMNI.COM NSIDE THE ST. JAMES ON A CHILLY FRIDAY MORNING in early spring, members of the D.C. United team mingle around high-top tables inside Vim and Victor, the ele- gant restaurant to the left of the entrance, where a coffee counter serves pressed juices, banana loaves, paleo cran- berry scones and breakfast sandwiches. The MLS soccer club’s black and red eagle logos can be spotted elsewhere in the 450,000-square- foot sports, wellness and entertainment complex, as players practice moves on the FIFA-regulation- size turf field and lift weights in the training room. School is out today, so there are also children shooting down slides in the indoor waterpark, scaling colorful climbing walls and tying on figure skates in one of the center’s two ice rinks. In the other, there’s a hockey clinic going on, while a man working on a laptop watches through a large window in the adjacent lounge. A golfer prac- tices his swing in one of six simulator bays, and in the health club, a woman relaxes in the sauna. I Another day, you might see a Washington Wizards basketball player shooting baskets next to a group of 7-year-old children in one of four basketball courts, which convert to nine volleyball courts. If your timing is right, gold medalist Katie Ledecky might be doing laps in the Olympic- size pool.
    [Show full text]
  • The New Promotion
    THE NEW PROMOTION How To Win Fans And Influence People BPI Insight Sessions - Report 0 THE NEW PROMOTION How To Win Fans And Influence People BPI Insight Sessions - Report CONTENTS 1 Introduction 2 Critical Takeaways 3 ​The Landscape 4 Recommended Strategies The BPI Insight Sessions typically explore the relationship between technology, socio-cultural trends and music, and how they can shape consumer behaviour and the consumption of music. The BPI hosts around three sessions a year, sometimes in conjunction with the Entertainment Retailers Association, and typically curated by a respected industry media and insight provider or thought leader. Past events, which are often also supported by a detailed report, have covered a broad selection of subjects ranging from In-Car Technology, Blockchain, Artificial Intelligence, and Virtual Reality to Smart Speakers, Generation Z, and the Album in the Post-Streaming Era (for National Album Day). The Sessions can be attended free of charge by BPI members and guests, and industry associates are able to purchase tickets. This report was commissioned by the BPI as part of its Insights Sessions. An event was held at the BPI 28th March 2019 and this report captures insights from the research process undertaken hand-in-hand with the event. The work was done by music industry strategists/marketers Keith Jopling and Eric Karsenty - see biogs at the end. 1 THE NEW PROMOTION How To Win Fans And Influence People BPI Insight Sessions - Report 1 INTRODUCTION An everyday conversation in music marketing teams, is how to harness the power of influencers and curators to grow an audience for artists and songs.
    [Show full text]
  • Acoustic Sounds Catalog Update
    Analogue Productions and Quality Record Pressings are proud to announce the newest incarnation of titles to be pressed at 45 RPM on 200-gram vinyl. Ladies and gentlemen: The Doors! Additionally, these will also be available on Multichannel Hybrid SACD. The Doors Strange Days Waiting For The Sun Soft Parade Morrison Hotel L.A. Woman AAPP 74007-45 AAPP 74014-45 AAPP 74024-45 AAPP 75005-45 AAPP 75007-45 AAPP 75011-45 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 (two 45-RPM LPs) (two 45-RPM LPs) (two 45-RPM LPs) (two 45-RPM LPs) (two 45-RPM LPs) (two 45-RPM LPs) Multichannel Hybrid Multichannel Hybrid Multichannel Hybrid No SACD available No SACD available Multichannel Hybrid SACD SACD SACD for this title for this title SACD CAPP 74007 SA CAPP 74014 SA CAPP 74024 SA CAPP 75011 SA $30.00 $30.00 $30.00 $30.00 Cut from the original analog masters by Doug Sax, with the exception of The Doors, which was made from the best tape copy. Sax and Doors producer/engineer Bruce Botnick went through a meticulous setup to guarantee a positively stunning reissue series. This is an all-tubes process. These masters were recorded on tube equipment and the tape machine used for transfer for these releases is a tube machine, as is the cutting system. Tubes, baby! A truly authentic reissue project. Also available: Mr. Mojo Risin’: The Doors By The Doors The Story Of L.A. Woman The Doors by The Doors – a Featuring exclusive interviews with Ray huge, gorgeous volume in which Manzarek, John Densmore, Robby Krieger the band tells its own story – is colleagues and collaborators, exclusive per- now available.
    [Show full text]
  • 1 Wall Street's Content Wars
    1 Wall Street’s Content Wars: Financing Media Consolidation Andrew deWaard University of California, San Diego Forthcoming, in Content Wars: Tech Empires vs. Media Empires. Ed. Denise Mann. Oakland, CA: University of California Press, 2021. Abstract If we frame the ongoing streaming transition occurring in the cultural industries as ‘content wars,’ with metaphoric ‘battlefronts’ in Hollywood, in Silicon Valley, and on Madison Avenue, then the silent arms dealer in this conflict is Wall Street and the investor class, whose financial engineering goes largely unacknowledged in studies of the media industries. This chapter will explore the impact of private equity in the American film, television, and music industries since 2004. The mercenaries of these content wars, private equity firms have enacted leveraged buyouts in every sector of the cultural industries: major music labels (Warner, EMI), radio networks (Cumulus, Clear Channel/iHeartMedia), film and television production and distribution companies (MGM, Miramax, Univision, Dick Clark Productions), exhibition (AMC, Odeon), the top talent agencies (CCA, WME, IMG), audience measurement (Nielsen), and the trade press (Variety, The Hollywood Reporter, Billboard). The arms race in this conflict is the ability to monetize content catalogues across streaming platforms, which is a lucrative opportunity for financialization. From a critical political economy of media perspective attuned to the significance of financial capital, this chapter demonstrates that the financialization of various components of the media sector is facilitating a dramatic extraction of value from the cultural industries, leaving further consolidation in its wake. Who is profiting from the streaming transition and who is losing out? The answers are the same as in the wider economy of the second gilded age: the wealthy are extracting private, untaxed profit from the public arena while the middle class of creatives is being hollowed out.
    [Show full text]
  • Catherine Mountjoy William & Mary Investment Trust
    11th Annual FROM DOG ST TO WALL ST EVENT PROGRAM & PANELIST BIOGRAPHIES October 5-6, 2017 Miller Hall Thursday, October 5th Keynote Address, Miller Hall, Brinkley Commons (2nd floor) 5:45 pm - 7:00 pm Todd Boehly is Chairman, Chief Executive Officer and controlling member of Eldridge Industries. Eldridge operates a portfolio of diversified businesses, with over 2500 employees, across several industries. Prior to founding Eldridge, Mr. Boehly was the President of Guggenheim Partners, where he launched their credit investing business and later assumed responsibilities for the asset management business. He received his BBA from the College of William & Mary and studied at the London School of Economics. In addition to being the Chairman and CEO of Eldridge, Mr. Boehly is a member of the Cain International Board and serves as a trustee or board member of several other organizations. He is a principal owner of the Los Angeles Dodgers, Dick Clark Productions, Billboard and The Hollywood Todd Boehly ’96 Reporter, Media Rights Capital—the owner and producer of House of Cards—and A24—the owner and producer of Moonlight, winner of the Eldridge Industries Academy Award for “Best Picture” in 2016. Friday, October 6, 2017 Opening Session, Brinkley Commons: Continental Breakfast provided 8:30 - 9:45 am - Investment Banking Concurrent Sessions: see insert for room numbers 10:00 am - 11:00 am: Session 1 - Career Success Early Session 2 - Equity Analysis Session 3 - Strategy Consulting 11:15 am - 12:15 pm: Session 1 - Private Equity & Venture Capital Session 2 - Private Banking Session 3 - Corporate Finance 12:30 pm - 1:30 pm: Session 1 - Commercial Banking Session 2 - Risk Management Session 3 - Asset Management Panelist Biographies Karim Ahamed is a Partner and Investment Advisor in the Chicago office of HPM Partners LLC.
    [Show full text]
  • Private Equity Investment in Hollywood Is Booming
    Private equity investment in Hollywood is booming. Meet 13 players who backed hits from 'Knives Out' to 'Mare of Easttown.' By JP Mangalindan, Claire Atkinson, and Alison Brower July 15, 2021 Private equity investors are playing a larger role in showbiz as it recovers from the pandemic. Investments in media and telecom hit new heights during the first half of 2021, PwC research shows. From Apollo to Zelnick, these 13 private equity players are betting billions on Hollywood. The money never stops churning in Hollywood and entertainment, and private equity investors are now playing a bigger role in showbiz than ever as the industry recovers from pandemic shutdowns and production and deal-making rev up. "Theatricals were hit really hard, but there were a lot of success stories and transformations that occurred during the pandemic, and some of the private equities are trying to be opportunistic," said Bart Spiegel, media and telecom deals leader at PwC. Private equity investment in the media and telecom sector soared to new highs during the first half of 2021, according to PwC research, accounting for more than 170 deals and around $54.8 billion of deal value so far this year. Among the highest-drama moves, Silver Lake unloaded its stake in AMC Entertainment Holdings in January for $713 million, capitalizing on a Reddit-driven 10-fold rise in share prices and making one of the biggest exits in recent memory. With companies like Reese Witherspoon's Hello Sunshine seeking a buyer at a $1 billion valuation, according to the Wall Street Journal, and LeBron James' SpringHill company also considering a sale (for around $750 million, the Information reported), industry experts told Insider they expect to see more private equity investment in talent-led shingles, despite the perceived risks in creative industries.
    [Show full text]
  • The Novel and the Menagerie
    The Novel and the Menagerie Totality, Englishness, and Empire Kurt Koenigsberger The Ohio State University Press Columbus Copyright © 2007 by The Ohio State University. All rights reserved. Library of Congress Cataloging-in-Publication Data Koenigsberger, Kurt. The novel and the menagerie : totality, Englishness, and empire / Kurt Koe- nigsberger. p. cm. Includes bibliographical references (p. ) and index. ISBN 978–0–8142–1057–4 (cloth : alk. paper) — ISBN 978–0–8142– 9136–8 (cd-rom) 1. English fiction—19th century—History and criticism. 2. English fiction—20th century—History and criticism. 3. National charac- teristics, English, in literature. 4. Identity (Philosophical concept) in literature. 5. Whole and parts (Philosophy) in literature. 6. Literature and society—Great Britain—History—19th century. 7. Literature and society—Great Britain— History—20th century. 8. Social institutions in literature. 9. Imperialism in literature. I. Title. PR878.3557K64 2007 823'.809358--dc22 2007000236 Cover design by Dan O’Dair. Type set in Minion. Printed by Thomson-Shore, Inc.. The paper used in this publication meets the minimum requirements of the American National Standard for Information Sciences—Permanence of Paper for Printed Library Materials. ANSI Z39.48–1992. 9 8 7 6 5 4 3 2 1 For Aidan Contents List of Illustrations vii Preface ix Acknowledgments xv Introduction The Novel as Zoo: Animal Stories and English Style 1 Chapter 1 Picturing Britannia’s Menagerie: The Aesthetics of the Imperial Whole 32 Chapter 2 Circuses in Cabinets: The Victorian Novelist as Beast Tamer 82 Chapter 3 Elephants in the Labyrinth of Empire: Arnold Bennett, Modernism, and the Menagerie 118 Chapter 4 Monsters on the Verandah of Realism: Virginia Woolf’s Empire Exhibition 149 Chapter 5 The “Anglepoised” Novel after Empire: English Creatures and Postcolonial Exhibition 182 Epilogue Small Islands, Frozen Arks 212 Notes 219 Bibliography 245 Index 261 Illustrations Figure 1 Queen Elizabeth II and Runga-Rung Elephant, The Daily Telegraph, 10 May 2002.
    [Show full text]
  • Institutional Investment, Venture Capital, and Private Equity in the Film and Television Industry
    Financialized Hollywood: Institutional Investment, Venture Capital, and Private Equity in the Film and Television Industry Andrew deWaard JCMS: Journal of Cinema and Media Studies (formerly Cinema Journal) 59.4 (2020). Forthcoming. Post-print version including revisions. Andrew deWaard is an Assistant Professor of Media and Popular Culture at the University of California, San Diego and is the co-author of The Cinema of Steven Soderbergh: indie sex, corporate lies, and digital videotape (Columbia University Press/Wallflower, 2013). Abstract: The financial sector has a hidden, but dramatic effect on Hollywood: three institutional investors hold the largest investment stakes in nearly all major companies; corporate venture capital has arisen within every entertainment conglomerate; and private equity firms have enacted leveraged buyouts of companies in all sectors, including production, distribution, exhibition, talent agencies, audience measurement, trade press, and content catalogues. This article argues that “Financialized Hollywood” is a dangerous development; financial engineering strategies are extracting capital and reducing operational capacity, further depriving Hollywood of the diversity and heterogeneity it might provide the public sphere. Keywords: finance, media industries, political economy, venture capital, media consolidation After a breakdown in negotiations with the Association of Talent Agencies on April 12, 2019, the Writers Guild of America (WGA) took the unprecedented step of instructing its members to fire their agents. More than seven thousand writers—92 percent of the guild— dutifully fired their agent. At issue was the WGA’s new Code of Conduct that prohibited agents from taking packaging fees (which they claim is a breach of fiduciary duty, as it incentivizes agencies to negotiate a lower fee for talent) or engaging in production (which they claim is a conflict of interest, as the agencies are again incentivized to lower fees).
    [Show full text]