Tom McGrath

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Tom McGrath
Tom McGrath

Thomas B. McGrath (born 1956, married, two children) though little known outside Hollywood, has been a leading, behind-the-scenes player in reshaping modern media throughout his entertainment career.

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[edit] Early life and education

McGrath grew up in Washington, DC, graduated from St. John's College High School ('72), received his A.B. at 19 from Harvard and earned his M.B.A. there as well. At Harvard he was music director of the Hasty Pudding Theatricals and conductor of both the Harvard Marching Band and the Gilbert and Sullivan Society.

[edit] Career

McGrath began his career as a musician, performing in the orchestra at the Wolf Trap Center outside Washington, DC, while in college. After college he was a Broadway press agent at the Kennedy Center in Washington, DC, work that included the original Broadway production of Annie and the first national tour of A Chorus Line. He also handled the U.S. Bicentennial visits of the La Scala opera, Berlin Opera, Royal Ballet, Cuba National Ballet, Bolshoi Opera and Ballet and the Stuttgart Ballet. These visits included the US debut of Jose Carreras and the American debut of the recently defected, Russian dancer Mikhail Baryshinikov.

[edit] Columbia Pictures (The Coca-Cola Company)

While in business school, McGrath wrote a thesis on future potential of the home videocassette for film distribution which brought him to the attention of Columbia Picture's then CEO, Fay Vincent (later the commissioner of Major League Baseball).

McGrath was then hired by Columbia Pictures in 1980 to start a home video distribution company as well as set up a licensing regime for the emerging pay TV channels such as HBO and Showtime, at a time when few had even heard of a videocassette. While at Columbia, McGrath wrote an econometric paper on movie theaters and video competition that contributed to the US Justice Department lifting a 30-year old "Paramount Consent Decree" which had prohibited film companies from owning movie theaters -- after which Columbia became the first motion picture studio since 1954 to acquire a chain of movie theaters. McGrath also lead the formation of TriStar Pictures, a partnership of Columbia, HBO and CBS—the first new movie studio in fifty years—which survives to this day as part of Sony Entertainment. With Warner Brothers, Fox, Goldcrest Films and Thorn/EMI, McGrath formed Premiere International, Europe's first Pay TV service. McGrath also led the acquisition of Belwin-Mills Music by Columbia, as well as Embassy Television (All in the Family, among many other shows) and Merv Griffin productions (Wheel of Fortune and Jeopardy).

[edit] President and CEO, Act III Communications

After Columbia, McGrath started up Act III Communications in partnership with famed TV writer Norman Lear, Bert Ellis, Scott Wallace and Paul Schaeffer. Act III was the first non-industry player to acquire movie theaters in a move that subsequently led to virtually all the major movie theater chains being acquired by financial players. Act III also owned TV stations (eventually becoming the largest Fox Network affiliate when that network was starting up), trade magazines such as Channels and produced a handful of movies.

[edit] President of Time Warner International Broadcasting

McGrath moved on in 1990 to become President of Time Warner International Broadcasting, where he worked with the legendary Steve Ross and HBO's Jeff Bewkes to take advantage of the deregulation of media internationally by launching radio and TV channels such as Classic FM in the UK, Channel Five (UK), VIVA-TV (Germany), the first major competitor to MTV and the only one to beat them in local ratings, NTV, a German language 24-hour news network in partnership with CNN, VOX (TV) a national German TV network with Bertelsmann, and others.

[edit] Chief Operating Officer, Viacom Entertainment Group

After Time Warner International, McGrath became chief operating officer of the Viacom Entertainment Group following Viacom's acquisition of Paramount Pictures in 1994. At Viacom McGrath headed up Famous Players Theaters which eventually obtained a 50% share of the Canadian market, and United Cinemas International which led the effort to modernize international movie theaters by building almost 1,300 movie theater screens in 13 countries including Brazil, China, Italy, Japan, Germany and others. McGrath acted as chairman of Famous Music, Paramount's music publishing subsidiary, doubling net publisher's share; also heading up licensing and merchandising (launching the Cheers and Bubba Gump Shrimp Company restaurant chains) and corporate finance.

McGrath also led up the build-up of the Paramount TV station group from 14 local independents to 27 stations for the launch of the UPN network, America's fifth major broadcast network. In new technology, he led the formation of Digital Cinema Initiatives, a movie studio effort to define standards for digital cinema projection, served on the committee for advanced DVD standards, formed the studio joint venture "Movielink" to offer internet downloading of major feature films, and led industry efforts to both combat internet film piracy and create viable online alternatives.

While at Paramount, McGrath formalized and rationalized the use of off-balance-sheet film financing, making it an indispensable tool of modern film making, including over $4bn in German tax partnerships, $2bn in UK sale-leasebacks and the Melrose Film Partners "slate" financing. Other accomplishments included tha acquisition and mergers of Viacom Television, Spelling TV and Rysher Entertainment (more than doubling Paramount's TV library) and heading up Paramount's theme park division, then the fifth largest theme park operator in North America.

[edit] Chairman, Key Brand Entertainment

On January 25, 2008 it was announced that McGrath, in partnership with UK producer John Gore, had acquired the live theater division of Live Nation known as "Broadway Across America." BAA is the largest producer and touring production company for Broadway musicals in the US. The company includes theaters in Boston, Toronto, Baltimore and Minneapolis and a touring subscription series in 42 cities across the US. It also includes a 50% interest in Networks LLC, a production and touring company for so-called "2nd Class" tours, and an interest in "The Booking Group," a booking agency for touring shows.

[edit] Film

Films produced by Act III under McGrath include: Fried Green Tomatoes, Stand by Me,Breaking In,and The Princess Bride.

[edit] Theater

First-class theatrical productions set up by McGrath include: Arsenic and Old Lace, Vacanza Romana (Roman Holiday), Irving Berlin's White Christmas, Footloose,Saturday Night Fever, Urban Cowboy, Flashdance, First Wive Club, Johnny Guitar, Ghost, Sunset Boulevard and the stage adaptation of Happy Days with Gary Marshall.

[edit] Theatrical Exhibition

McGrath has a particular association with theatrical exhibition. In 1948 the U.S. Supreme Court decided the major film studios (Paramount, Universal etc.) must divest themselves of their movie theaters (the "Paramount Consent Decree.") In 1985 Columbia Pictures, then a unit of The Coca-Cola Company, acquired a 58% interest in Walter Reade cinemas in New York. Columbia (which had not been a signatory to the original decree as it had owned no Theaters then) submitted an econometric study by McGrath showing that the inter-relationship and growth of the Home Video, cable TV and subscription Pay TV businesses eliminated the need to consider exhibition as a unique product market. The deal went forward and Tri-Star Pictures, Warner Brothers, Universal and Paramount all subsequently acquired theaters. At Act III McGrath built what was then the 6th largest theater circuit, notable for its early adoption of digital sound and extensive roll-out of the THX sound system. While at Paramount McGrath led the development of stadium-seated cinemas building 800+ stadium screens in Canada at Famous Players, eventually achieving a 50% market share; while spurring the re-birth of the contemporary international cinema business building some 1,300 screens in stadium "megaplexes" in 13 countries at United Cinemas International (UCI). McGrath also pioneered the use of screen advertising in cinemas first at UCI in England and then introducing the idea to North America at Famous Players. He is responsible for the 2001, $15mm renovation of the historic Grumann's Chinese Theater in Hollywood which included the replication of the original tapestries, carpets and drapes from the designer's hand-cut templates. With AMC and Sumner Redtone's Showcase, he formed the online movie ticketing company MovieTickets.com. Finally, McGrath led the formation of Digital Cinema Intitiatives, a joint venture of the major studios, which developed the standards and technology for the introduction of digital cinema. In 2006 he worked with Blackstone to form Cineworld, the largest (by box office) theater circuit in the UK (Steve Wiener, ceo) which went public in an IPO in the Spring of 2007.

[edit] Senior Managing Director, Crossroads Media

McGrath is currently Senior Managing Director of Crossroads Media, a private equity backed acquisition vehicle. Most recently Crossroads acquired a controlling interest in Bug Music which manages the catalogs of Johnnie Cash, Willie Dixon, Annie Roboff, Harry Ruby, Stevie Ray Vaughn and others. In June 2007 Bug Music acquired Windswept Music from Fuji (Japan) making Bug the largest independent music publisher in North America. The acquisition of Windswept which added the '60s catalog "Trio/Quartet" to Bug, included songs such as "(You Give Me) Fever,""Do You Believe in Magic," Summer in the City" and others. McGrath also serves on the boards of V-Media, Cineworld Cinemas UK, Universal Studios Orlando and Classic Media TV(sold to Entertainment Rights, UK in 2007).

[edit] References

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