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Tom McGrath (media executive)

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Tom McGrath born 1956 is an American media executive and the current Chief Operating Officer of STX Entertainment He is Senior Managing Director of Crossroads Media, Inc an entertainment industry specialist investor and consulting firm He was previously the Executive Chairman and co-owner of Key Brand Entertainment, a leading producer and distributor of live theatre in the United States and parent of e-commerce web site Broadwaycom He is currently on the Board of Prime Focus World He serves on the Advisory Council to the Office of the Arts at Harvard, the Board of Directors of the International Academy of Television Arts & Sciences, a member of The Recording Academy and is Member of the Board of Trustees of The New England Conservatory of Music and the American Repertory Theater in Cambridge, MA

Contents

  • 1 Early life and education
  • 2 Career
  • 3 Theatrical Exhibition
  • 4 Senior Managing Director, Crossroads Media
  • 5 Footnotes
  • 6 References
  • 7 External links

Early life and educationedit

McGrath grew up in Washington, DC, graduated from St John's College High School '72, received his AB at 19 from Harvard and earned his MBA there as well At Harvard he was music director of the Hasty Pudding Theatricals and conductor of both the Harvard University Band and the Harvard-Radcliffe Gilbert and Sullivan Players

Careeredit

McGrath began his career as a musician, performing in the orchestra at the Wolf Trap National Park for the Performing Arts 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 Line1 He also handled the US Bicentennial visits in 1976 of the La Scala Opera, Berlin Opera, The Royal Ballet, Cuban National Ballet, Bolshoi Opera and Ballet and the Stuttgart Ballet These visits included La Bohème with José Carreras and the world premiere of Russian dancer Mikhail Baryshnikov's production of Tchaikovsky's The Nutcracker23

Theatrical Exhibitionedit

McGrath has a particular association with theatrical exhibition In 1948 the US 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 mitigated the argument that theatrical exhibition was a distinct and unique product market The deal went forward and Tri-Star Pictures, Warner Brothers, Universal and Paramount all subsequently acquired movie theaters4

At Act III McGrath built what was then the 6th largest theater circuit Scott Wallace, president, notable for its early adoption of digital sound and extensive roll-out of the THX sound system5 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 He spurred the rebirth of the contemporary international cinema business by building some 1,300 screens in stadium-seated "megaplexes" in 13 countries at United Cinemas International UCI6 From 2006 to 2013 McGrath served as a board member of Cineworld, the leading UK theatrical exhibitor His association began with the acquisition and consolidation of several UK cinema chains under Blackstone, through the company's IPO on the London Stock Exchange in April 2007 and thereafter7

McGrath also pioneered the use of screen advertising in cinemas first at UCI in England Joe Peixoto, president and then introducing the idea to North America at Famous Players8 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 Redstone's Showcase, he formed the online movie ticketing company MovieTicketscom9

Finally, McGrath led the formation of Digital Cinema Initiatives, a joint venture of the major studios, which developed the standards and technology for the introduction of digital cinema10 In 2006 he worked with Blackstone to acquire Cineworld, the largest by box office theater circuit in the UK Steve Wiener, ceo which went public in the Spring of 200711 Cineworld's achievements include leading the introduction of "3D" exhibition technology and currently has more than 50% of the "3D" screens in the UK and Ireland12

Senior Managing Director, Crossroads Mediaedit

McGrath is currently Senior Managing Director of Crossroads Media, a private equity backed acquisition vehicle McGrath also serves on the boards of Cineworld UK, The Aramid Entertainment Fund a specialty hedge fund for the entertainment industry, Prime Focus World and previously on the boards of Movie Gallery, Universal Studios Orlando, Classic Media TV and Cineworld UK which he took public with Blackstone UK in 200713

Footnotesedit

  1. ^ Darling, Lynn January 1, 1977 "Bicentennial Hailed for Its Legacies" The Washington Post 
  2. ^ Meersman, Roger 1980 "The Kennedy Center: From Dream to Reality" Records of the Columbia Historical Society
  3. ^ Kriegsman, Alan M January 2, 1977 "The New 'Nutcracker': An Artistic Coup" The Washington Post 
  4. ^ Box-Office Potential Entices Large Chains, Movie Makers from Los Angeles Times July 27, 1986
  5. ^ "Paramount Revisited: the Resurgence of Vertical Integration in the Motion Picture Industry" Hofstra Law Review Winter 1992
  6. ^ The Business of Media: Corporate Media and the Public Interest pp 71-107, by David Croteau and William Hoynes, 2001
  7. ^ Blackstone to IPO Cineworld
  8. ^ Cineplex Odeon Corporate History
  9. ^ PR Newswire December 15, 2000
  10. ^ Studios Do Digital Dance from Variety July 27, 2005
  11. ^ Blackstone Press Release December 2, 2004
  12. ^ wwwcineworldplccom
  13. ^ Cineworld Sets IPO Price

Referencesedit

  • "Executives at the Gate", Vanity Fair
  • Vanity Fair
  • "Serious Money", Vanity Fair
  • Thomas B McGrath Profile from Fathomcom
  • Norman Lear, Act III Communications
  • Gore and McGrath acquire Live Nation Legit Theater Biz from the NY Times
  • Bug Music Records Four Consecutive Quarters as #1 Indie Publisher from Billboard
  • "Mining Gold in Tin Pan Alley" from The Deal 9/15/2008
  • "The New Song of Broadway" from The Deal July 17, 2009
  • "Bug Music Number 99 on INC Magazine 500 Fastest Growing Small Companies" from Inc Magazine
  • "The Future of Theater" from Harvard Magazine January 2011

External linksedit

  • Tom McGrath at the Internet Broadway Database
  • Tom McGrath on Internet Movie Database
  • LinkedIn Profile
  • TED Profiles
  • Bug Music
  • Channel 5 UK
  • Famous Players Theaters
  • Crossroads Media McGrath
  • N-TV Nachrichten Fernsehen in German
  • Paramount Pictures
  • United Cinemas International
  • VIVA TV German and English
  • Broadway Across America
  • Broadwaycom
  • BroadwayBox
  • NETworks Presentations, LLC
  • The Booking Group
  • Prime Focus World
  • New England Conservatory of Music
  • ART American Repertory Theater
  • Cineworld PLC
  • Cineworld Board of Directors
  • TBS Events; Tokyo, Japan

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