Wednesday, November 24, 2010

Summit Shareholder Responds to Execs

Well it turns out that the so called 'twilight biz impostor' owns 20 percent of Summit Entertainments parent company and has rights and an option to fire the execs with whom he is currently in a war of words over his rejection of their demand for higher bonuses. Here is a response from Omar Amanat's powerhouse trial law firm Quinn Emanuel which has won 94.7% of it cases. This response balances out the full story behind the Deadline Hollywood article.
3777706_11!15!10 Letter to David Friedman-1











18 comments:

  1. I always knew there was something fishy behind that Deadline.com article calling him a twilight biz imposter. In the emails he clearly states he is a former member of the Board of Directors of Summit Entertainment so clearly he is somebody to be taken seriously. This letter from his lawyer spells it out clearly. The employees wanted higher bonuses --as one of the contolling owners he and his rep rejected them and now think they can use their temporary clout to abuse him. Seems like they won't be working there for long.

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  2. This Friedman guy better dust off the old resume, after reading that letter I dont think his contract is getting extended...

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  3. Anonymous6:09:00 PM

    There is an old hollywood truism. "A fool and his money will soon be parted." In this case sounds like this investor hit the jackpot and the execs, who are used to cushy salaries and big egos just cant handle it anyone else taking any credit for success which his money allowed. Why antagonize "indirect" investors? Arrogance or just plain stupidity? Another Hollywood truism:
    "A fool and his hollywood studio job will soon be parted"

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  4. LALA-Wood, CA6:12:00 PM

    Twilight was a lucky strike with a bit of magic sprinkled on top. The Summit exec team hasnt exactly built a string of hits beyond this franchise so the shareholders must be getting anxious, this letter seems representative of that.

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  5. Anonymous6:29:00 PM

    Umm, what the f$%ck?? Don't these knucklehead employees have anything better to do with their time than write letters to piss off their own investors? If an investor wants to throw a premiere party FOR CHARITY that's a GOOD THING. Do Twilight fans know about this?? Are these guys that creepy that they would throw him under a bus for that and leak the letter publically? Probably alot of internal problems inside this company that look like they are about to go public. Its amateur hour at Summit.

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  6. Har Dee Har8:43:00 PM

    question: how many studio execs does it take to screw in a lightbulb?
    answer: dunno, lightbulbs last longer than studio execs

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  7. Anna_Kay9:40:00 PM

    Curious to see how this guy Friedman responds. I mean, I dont think he has a leg to stand on, it was a charity event and this guy had no business opening that can of worms over charity. That's sooooo wrong!

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  8. Studio_Crow11:07:00 AM

    this Friedman guy changes studio jobs more than most people do socks

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  9. Anonymous2:39:00 PM

    The above letters stating that Summit actually approved the charity screening. Why would this exec put his neck out for something so trivial (and in dispute) to make an enemy of someone who could fire him? Bonehead move!

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  10. dreadline_holly2:41:00 PM

    It wasnt Friedman that published the letters, it was Deadlinehollywood.com aka Nikki Finke

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  11. Anonymous2:45:00 PM

    Of course it was the exec at Summit that leaked the documents to Deadline. If what these above letter says is true, then the statements made public by Summit will get them in heaps of legal trouble (libel/slander awards are not pretty when you are dealing with someone who actually can show stated earnings based on reputation) I wouldnt be surprised if the same guy that leaked the letters is the same guy who is drafting the apology letter to the investor.

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  12. Someone sent me this on facebook, ohhh the behind the scenes dramaaaa

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  13. Sick_with_it11:28:00 AM

    what is with all the baboonery, can't we all just get along? It's for charity, the studio doesn't own the stars of Twilight, if they are friendly with the investors of the company, they are free to do charity.

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  14. balllllin3:24:00 PM

    Ah so wallstreet was behind Summit and now because they have a hit on their hands they don't want to pay Wallstreet. What a tug-of-war its always interesting to see the inner workings of the Hollywood financing machine. I always wonder how films get those huge fundings like 90 Milliion. Here is a great article I found http://www.edwardjayepstein.com/LaraCroft.htm

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  15. phil_uk8:22:00 PM

    I met Omar during the Cannes Festival a couple of years ago where he was hosting the media titans, technology mavericks and A-List Celebrities at a party at his Villa. Everyone in these inner circles knows who he is and he would be the last person one would call an 'impostor'. Anyone who has been to Cannes or has worked in Hollywood knows who Omar Amanat, this guy walks the talk.

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  16. JAY Gould6:24:00 AM

    Someone sent me this link on Facebook. I had no idea this drama was going on. Sheez, everyone who knows Omar knows he is the nicest guy around with only the best of intentions. Humble to a fault. Not some hollywood jackass braggart. Most people don't even know what this guy has done because he doesn't walk around bragging. He literally changed the way the world buys and sells stocks--there is a Harvard case study on him. He was voted one of "Wall Street's Top Ten Most Influential Technologists," has made billions of dollars for his partners and shareholders over the years and sits on the Board of Human Rights Watch with Barry Meyer (CEO of Warner Brothers), Malaria No More alongside Peter Chernin (fmr President of News Corp) and numerous other A Listers. This interview by Oprah Winfrey's show http://www.oprah.com/oprahradio/Global-Philanthropist-Omar-Amanat says it all. He survived the 9/11 attacks where his business was destroyed, and then decided to devoted his life to charity and socially responsible films. These guys are creeps for attacking him like this. They will get their due.

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  17. Chris bubble5:50:00 PM

    What a stupid management ploy, they all know Omar and its sick that people try to exploit people who provide the money who found success. Omar, I hope you really stick it too these ‘Hollywood’ thief’s, get some people who will manage your interests with a better heart and business edict.

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  18. Glad this came out Omar! You handled it great. Always in your corner! You're a good dude.

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