“I’ve been reading a lot about Daniel Loeb, a hedge fund guy who describes himself as an activist but who knows nothing about our business, and he is looking to take scalps at Sony because two movies in a row underperformed? When does the clock stop and start for him at Sony? Why didn’t he include Skyfall, the 007 movie that grossed a billion dollars, or Zero Dark Thirty or Django Unchained? And what about the rest of a year that includes Elysium, Captain Phillips, American Hustle and The Monuments Men? You can’t cherry pick a small time period and point to two films that didn’t do great…[Loeb] calls himself an activist investor, and I would call him a carpet bagger, and one who is trying to spread a climate of fear that pushes studios to want to make only tent poles…To have this guy portraying it that Sony management is the bad stepchild and doesn’t know what it is doing and he’s going to fix it? That is like Walmart saying, let me fix your town, putting in their store, strangling all the small shops and getting everyone who worked in them to work for minimum wage with no health insurance. It’s crazy he has weight in this conversation at all…You want to see what happens if outside forces start to scare the industry and studios just make tent poles out of fear? You will see a lot of crap coming out.”. [Deadline]

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Comments (28)

  1. Posted by guestie | August 2, 2013 at 6:20 PM

    Tough, but fair.

  2. Posted by D. Ocean | August 2, 2013 at 6:26 PM

    1. Proceed to bitch about someone not knowing anything.
    2. Bitch about something you know nothing about
    3. ???
    4. Profit

  3. Posted by Rick Pipples | August 2, 2013 at 6:36 PM

    I mean he runs a hedge fund, he is clearly the smartest guy in the world.

  4. Posted by St. Copious | August 2, 2013 at 6:49 PM

    He was doing so well until the Walmart tangent. And there goes the credibility.

  5. Posted by Just sayin | August 2, 2013 at 8:25 PM

    He has "weight in the conversation" because he's Sonys largest shareholder. Perhaps Clooney shouldn't be pontificating on corporate governance either. Jackass.

  6. Posted by Guest | August 2, 2013 at 11:28 PM

    Crap like Batman and Robin?

  7. Posted by Anonymous | August 3, 2013 at 12:03 AM

    "You will see a lot of crap coming out." and that's different from the fare currently on offer from the major studios how?

  8. Posted by shareholder | August 3, 2013 at 4:53 AM

    interesting how this clooney guy considers himself qualified to tell shareholders to stay out of the business they OWN while he and his cronies suck off their tits (like a lot of society). Mr Clooney, he has "weight" in the conversation because he OWNS the studio, it's his money at stake – you need to be put in your place as a mere employee or collaborator in his venture.

  9. Posted by Leo DiCaprio Levin | August 3, 2013 at 8:30 AM

    Pretty sure what he's really trying to say is "Bess, quote me like one of your hedge fund guys."

  10. Posted by Guest | August 3, 2013 at 2:39 PM

    What's with this dude's obsession with tent poles?

  11. Posted by L.B. Mayer | August 3, 2013 at 3:52 PM

    I don't remember Loeb singling out anyone in particular, but other than that, good summary.

  12. Posted by Guest | August 3, 2013 at 3:54 PM

    Actually his investors' money, but l'etat c'est moi, non?

  13. Posted by EL_Kabong | August 4, 2013 at 12:14 AM

    Oh mai gawd! You soooo smaht with the French! Actually, playa, most of that fund is Loebs cash. But hey, I like your French.

  14. Posted by Guest | August 4, 2013 at 9:44 PM

    It was nice that he took the time to offer his insights while waiting for his next girlfriend to go through puberty.

  15. Posted by Guest | August 4, 2013 at 9:46 PM

    Oh, French and English. Congrats on being bi-sexual.

    - UBS Language Quant

  16. Posted by Dead_cat | August 5, 2013 at 9:26 AM

    Is that a clip-on?!?

  17. Posted by Begorrah | August 5, 2013 at 9:33 AM

    His film production company has a deal with Sony and I would think some of his employees asked him to say a few words on their behalf to the effect that they would prefer the film unit to be left inside the conglomerate so they wouldn't have to renegotiate with hedge fundy types.

    PS The American. Not good, not good at all. Apart from Violante Placido and Thekla Reuten.

  18. Posted by Al Czervik | August 5, 2013 at 9:41 AM

    I'm a man of constant sorrow.

  19. Posted by TT. | August 5, 2013 at 10:15 AM

    No way that's a clip on. It looks much too good. Besides, if you have the time to put on your diamond encrusted buttons, you have the time to tie your bow tie.

  20. Posted by PermaGuestII | August 5, 2013 at 10:21 AM

    Why are you telling our gals that I was hit by a train?

  21. Posted by Clayton Capital | August 5, 2013 at 11:37 AM

    Do I look like I'm negotiating?!!!!!

  22. Posted by Lawrence | August 5, 2013 at 12:09 PM

    Not so smart in his affairs. -Davos fling

  23. Posted by mr mcknuckles | August 5, 2013 at 1:48 PM

    Exactly! Because conversations about corporate governance and shareholders matter deeply to Japanese firms.

  24. Posted by Buboe | August 6, 2013 at 12:04 AM

    Worked out well for clooney..

  25. Posted by Buboe | August 6, 2013 at 12:06 AM

    They haven't been employee's since the twenties.
    Clooney is to Sony Pictures as big holes in the ground are to iron ore miners – where the money comes from.

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