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    The company that produced ‘Parasite’ has bought Endeavor’s scripted content arm.

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    The South Korean media conglomerate whose entertainment arm produced the winner of the 2019 Oscar for best picture, “Parasite,” has acquired a majority stake in the scripted arm of Endeavor Content, a subsidiary of the entertainment company Endeavor Group.Upon closure of the $775 million deal, which was announced late Thursday night, the South Korean conglomerate, CJ ENM, will own 80 percent of the business and the Endeavor Group 20 percent. The companies said they expected the deal to close in the first quarter of 2022.The Wall Street Journal reported the news earlier.“At the end of the day, CJ ENM strives to become a major global studio that encompasses content that appeals to a global audience — like this deal with Endeavor Content, we will continue to expand our presence in the global market,” Kang Ho-Sung, the conglomerate’s chief executive, said in a statement.Endeavor is being forced to reduce its ownership stake in its scripted content business as a result of a settlement this year with the Writers Guild of America, whose writers went on strike to protest what they saw as a conflict of interest at agencies that owned both talent representation businesses and production companies.Endeavor is not required to sell its unscripted assets and will maintain 100 percent ownership of that business.Endeavor Content was formed in 2017 by Graham Taylor and Chris Rice. Today, it calls itself a global film and television studio, and it has produced such projects as “Nine Perfect Strangers,” a Hulu mini-series starring Nicole Kidman, and Maggie Gyllenhaal’s directorial debut, “The Lost Daughter.” It owns a minority stake in Bruna Papandrea’s production company, Made Up Stories, in addition to PictureStart and Media Res.Mr. Taylor and Mr. Rice will remain co-chief executives of the new company.CJ has been expanding its foothold in Hollywood in recent years. Miky Lee, the vice chair of CJ Entertainment, the Hollywood arm of CJ ENM, rose to the national stage when she accepted the best picture Oscar for “Parasite,” but she was an industry player before then, nudging CJ toward Hollywood in the 1990s with a stake in DreamWorks. Most recently, she invested $100 million in David Ellison’s Skydance Media and was elected vice chair of the board of the Academy Museum of Motion Pictures.“Having known Miky Lee for more than 25 years, I’m confident that CJ ENM will be excellent stewards of the studio, accelerating and amplifying its projects on a global stage,” Ari Emanuel, the chief executive of Endeavor, said in a statement. More

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      The company that produced ‘Parasite’ is in talks to buy Endeavor’s scripted content arm.

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      The South Korean media conglomerate whose entertainment arm produced the winner of the 2019 Oscar for best picture, “Parasite,” is in final talks to acquire a majority stake in the scripted arm of Endeavor Content, a subsidiary of the talent agent Endeavor Group, two people familiar with the negotiations said.Under the deal, which the people familiar with the negotiations said was being valued at $900 million to $1 billion, the South Korean conglomerate, CJ ENM, would own 80 percent of the business and the Endeavor Group 20 percent.The Wall Street Journal reported the news earlier. Neither Endeavor Content nor CJ would comment on the talks.Endeavor is being forced to reduce its ownership stake in its scripted content business as a result of a settlement this year with the Writers Guild of America, whose writers went on strike to protest what they saw as a conflict of interest at agencies that owned both talent representation businesses and production companies.Endeavor is not required to sell off its unscripted assets and will maintain 100 percent ownership of that business.Endeavor Content was formed in 2017 by Graham Taylor and Chris Rice. Today it calls itself a global film and television studio, and it has produced such projects as “Nine Perfect Strangers,” a Hulu mini-series starring Nicole Kidman, and Maggie Gyllenhaal’s directorial debut, “The Lost Daughter.” It owns a minority stake in Bruna Papandrea’s production company, Made Up Stories, in addition to PictureStart and Media Res.Mr. Taylor and Mr. Rice will remain co-chief executives of the new company, the people with knowledge of the deal said.CJ has been expanding its foothold in Hollywood in recent years. Miky Lee, the vice chair of CJ Entertainment, the Hollywood arm of CJ ENM, rose to the national stage when she accepted the best picture Oscar for “Parasite,” but she was a Hollywood player before then, nudging CJ toward Hollywood in the 1990s with a stake in DreamWorks. Most recently, she invested $100 million in David Ellison’s Skydance Media and was elected vice chair of the board of the Academy Museum of Motion Pictures. More

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      in Music

      Grammys Drop Anonymous Nominating Committees After Backlash

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      Since 1989, small groups have whittled down 61 of the awards’ 84 categories. The Weeknd, who criticized the process, applauded the change but said he would not lift his boycott.The governing body of the Grammy Awards voted on Friday to change its nominating process, eliminating a step that has recently come under fire — the use of anonymous expert committees to decide who makes the final ballot in dozens of categories.Each year, the Recording Academy convenes music professionals to serve on its nomination review committees for 61 of the Grammys’ 84 categories. They whittle down the initial nomination choices by the academy’s thousands of voters to determine the ballot, and their work is intended to protect the integrity of the awards process.The committees began in 1989, but in recent years they have come under intense criticism from artists, music executives and even Grammy insiders as examples of an unaccountable system rife with conflicts of interest and mysterious agendas.Before this year’s Grammys, in March, the pop star the Weeknd — who had been shut out of the nominations despite the success of his latest album, “After Hours” — announced that he would be boycotting the show from now on, and focused his blame on the nomination process.“Because of the secret committees,” the Weeknd told The New York Times, “I will no longer allow my label to submit my music to the Grammys.”The Weeknd’s rebuke came after years of complaints by musicians, particularly Black artists in genres like hip-hop and R&B, many of whom have been lauded repeatedly in genre categories but blocked in the four most prestigious awards: album, record and song of the year, and best new artist. Among the most outspoken have been Jay-Z, Drake, Kanye West and Frank Ocean.In a statement to The Times early Monday, the Weeknd, whose real name is Abel Tesfaye, applauded the move by the academy but said he would not lift his boycott.“Even though I won’t be submitting my music, the Grammys’ recent admission of corruption will hopefully be a positive move for the future of this plagued award and give the artist community the respect it deserves with a transparent voting process,” the Weeknd said.At this year’s ceremony, Beyoncé became the most-awarded woman in Grammy history, with 28 wins. But of her career total, only one prize was in a major category, when she took home a song of the year trophy in 2010 as one of the credited songwriters on “Single Ladies (Put a Ring on It).”In a statement, Harvey Mason Jr., the interim chief executive of the Recording Academy, praised the decision by the academy’s board as part of “a year of unprecedented, transformational change” at the institution.“This is a new academy, one that is driven to action and that has doubled down on the commitment to meeting the needs of the music community,” Mason added. The proposal was discussed for over a year, and involved a special committee of academy members and leaders, the organization said.The workings of the nomination committees have long been a subject of intrigue in the music industry. The identities of the committee members are kept secret to protect those people from outside influence and fan attacks, according to the academy.But the process came under particular scrutiny last year, when Deborah Dugan, the academy’s former chief, made a number of detailed accusations as part of a legal complaint over her ouster from the organization.According to her complaint, many people on the committees had conflicts of interest. In one example she gave, one artist who was up for the song of the year category was allowed to sit on the committee for that category, and was also represented by a board member.Last year, the academy instituted a rule that musicians on the committees must sign disclosure forms to prevent conflicts.The decision to cut the committees was made during a meeting of the academy’s board of trustees. Although they are being eliminated for the four top prizes and all genre categories, review panels will remain for 11 so-called craft categories, which cover awards for production, packaging, album notes and historical recordings.The board also decided to reduce to 10 from 15 the number of genre award categories the academy members may vote on, beyond the top four prizes, and added two awards: best global music performance and best música urbana album, a Latin category.The changes will take effect with the 64th annual Grammy Awards, to be held on Jan. 31, 2022, which will cover music released during a 13-month window from Sept. 1, 2020, to Sept. 30, 2021. More