Covering the Digital Age in Philadelphia
( Enterprise Software, Cloud, SaaS, Mobile, Telecom, Digital Media, IoT, eCommerce, Startups, Venture Capital)
Harbour Group Acquires SP Industries, Inc. (PR Newswire)
SP Industries, based in Warminster, designs and manufactures state-of-the-art scientific equipment, biological drug manufacturing solutions, and precision labware.
Joy is a film about a real-life woman of that name, Joy Mangano, who became a best selling inventor, designer snd marketer of products, first on QVC snd later on HSN. Directed by David O. Russell and starring Jennifer Lawrence, Robert De Niro and Bradley Cooper, it opens on Christmas Day from 20th Century Fox.
Mangano, a Long Island native, became a merchandising superstar on QVC, first with the 'Miracle Mop' and then with a succession of other products. She sold her company to QVC rival HSN (originally Home Shopping Network) in 1999. The film portrays the long period of struggle in both her personal life and in achieving her career ambitions.
O.Russell apparently strayed from the straight biopic format, fictionalizing or in some cases slightly altering details of her life. He also created an amalgam of a character in the QVC executive played by Cooper, in part intended to portray founder Joseph Segal. The late Joan Rivers is played by her daughter Melissa.
There won't be a premiere in West Chester (it was held in New York). There doesn't seem to be a great deal of local buzz. Joy is going up against a film named Star Wars. And it was filmed in Boston, so don't expect any local scenery. Still, Joy has generated considerable attention.
Another aspect of the film's production was the emphasis placed on recreating the QVC studio environment of the time. "It was a huge push to get that done on camera. It was like The Wizard of Oz, going from black and white to color and also the feeling of going to the Emerald City,” explained Joy production designer Judy Becker to The Hollywood Reporter.
Some have made an issue of Comcast's role in the film. Since I have not seen it, I can't say to what extent Comcast factors into it, but its reign as majority owner lasted from 1995 to 2003 when it sold its stake to John Malone's Liberty Media, and my understanding is that the film covers mostly an earlier period. So it will probably not end with a dramatic showdown between Joy and Brian Roberts before her deciding to sell out to HSN.
I asked QVC for comment on Joy snd got no response, but of course QVC's involvement with her ended a long time ago. Joy Mangano is still a big star at HSN, however. The shopping network recently celebrated her 15th anniversary there, and a new line of her products is scheduled for a January 9th launch in selected stores, a first for her company.
But Mangano's career path might come full circle. QVCA, the tracking stock created by Liberty Media to hold QVC and related assets, owns 38% of HSN. And Liberty Media management has made it clear that if the price and tax impact are right, and the stars are properly aligned in the universe, they would like to buy the rest of HSN and combine it with QVC.
Update 12/22: Comcast has poured very cold water on this. This Is Money, which appears to be the business section of the MAIL ON SUNDAY, is reporting that talks have been held between ITV and Comcast’s NBCUniversal, and that Comcast is considering making an €11 billion ($16.4 billion) bid for the UK broadcaster.
Comcast been signalling clearly its international ambitions for the past year, and other news sources have suggested that ITV could be its intended target, though no other report indicated anything so advanced.
John Malone's Liberty Global is ITV's largest shareholder at 9.9%, though Malone has indicated he has no interest in bidding for control.
ITV is primarily a broadcaster like NBC rather than a distributor. Comcast once owned cable systems in the UK, but exited from the UK market in 1998. Liberty Global is one of the largest cable distributors (or broadband poviders) in the UK.
Morgan Stanley's Americas M&A chief, Bob Eatroff, is joining Comcaast officially in January. He has frequently advised Comcast in the past, including on its NBCU acquisition. Eatroff's title at Comcast, notably, will be Executive Vice President, Global Corporate Development and Strategy.
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