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Tom McGrath (media executive)

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Tom McGrath
BornThomas Berard McGrath
1956 (age 67–68)
Washington, DC
OccupationCEO of Crossroads Live
NationalityAmerican
EducationHarvard University
Years active1980–present
Notable awardsTony Award, Drama Desk Award, Olivier Award
Website
www.xroadslive.com

Thomas Berard McGrath (born 1956) is an American media executive. He is the chairman of Crossroads Media, a company which invests in live and location-based entertainment on a global scale. He was formerly the Chairman of Crossroads Live, a global distributor of theatrical entertainment. Previously, the president and COO of STX Entertainment; executive chairman of Key Brand Entertainment, a producer and distributor of live theatre in the United States and parent company of Broadway.com; president and COO of Act III Communications; and executive vice president and COO of Viacom Entertainment Group. [1] [2] He is a nine-time Tony Award-winning producer,[3] member of the National Recording Academy, and board member of the International Academy of Television Arts and Sciences.[4] He also serves as trustee of New England Conservatory of Music[5] and American Repertory Theater at Harvard.[6]

Early life and education

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McGrath was born and raised in Washington, DC.[7] He received his B.A. from Harvard University in 1976, where he was music director for Hasty Pudding Theatricals and conductor for the Harvard University Band. He earned his M.B.A. from Harvard Business School in 1980.[8][9] While at business school, he wrote a thesis on the potential of home video distribution for film distribution.[10]

Career

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Columbia

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Main article: Columbia Pictures

McGrath began his career in entertainment at Columbia Pictures Industries in 1980. While at Columbia, McGrath established RCA Columbia Home Video and served as senior vice president of corporate development for Coca-Cola, following its acquisition of Columbia in 1982.[11] McGrath also engineered the creation of TriStar Pictures through the conglomeration of Columbia, HBO and CBS. He led the acquisitions of Embassy Communications from TV producer Norman Lear and Merv Griffin Productions, producers of Wheel of Fortune and Jeopardy!.[12][13]

Act III

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Main article: Act III Communications

After serving two years as senior vice president,[14] McGrath was named president and COO of Norman Lear's entertainment company Act III Communications in December 1987.[15] He filled that role until 1990.[10] While at Act III, McGrath expanded its broadcast, publishing, and exhibition operations, worked on television station acquisitions, and financed multiple films, including Stand By Me, The Princess Bride, and Fried Green Tomatoes.[13]

Time Warner

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In the 1990s, McGrath was named President International of Time Warner International Broadcasting.[12] At Time Warner, he created Classic FM, a national radio network in the UK; n-tv, a German-language national cable news channel; and VIVA, a national German music video channel.[16]

Viacom

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Main article: Paramount Pictures

McGrath led Viacom's acquisition of Paramount Pictures in the 1990s.[12] He joined Viacom in 1994 as executive vice president and chief operating officer of the Viacom Entertainment Group, where he served until 2004.[10] While at Viacom, McGrath was involved in several musical adaptations of Paramount films, including White Christmas, Footloose and Saturday Night Fever.[17] In February 2002, McGrath was named President of Paramount Enterprises, Viacom's division for non-studio entertainment properties, including Paramount Parks, Canadian cinema chain Famous Players, and United Cinemas International.[18]

Key Brand Entertainment

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Main article: Key Brand Entertainment

From 2008 to 2013, McGrath served as chairman of Key Brand Entertainment, later renamed The John Gore Organization.[8][19] McGrath led the company's acquisition of Live Nation's theater division in 2008, which included Broadway.com, its group ticket sales division Theatre Direct, and its promotional branch Broadway Across America.[12][19][20] Through Broadway Across America, McGrath produced several Broadway shows, including the revivals of Promises, Promises (2009),[21] Hair (2009),[22] and How to Succeed in Business Without Really Trying (2011).[23] In 2013, McGrath joined with Broadway producer Kevin McCollum and film producer John Davis on a development deal with 20th Century Fox, in which they would choose Fox film properties from its library to be adapted into theater productions.[17] Initial projects include Mrs. Doubtfire and The Devil Wears Prada.[24] McGrath has received nine Tony Awards.[25]

Crossroads Media

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McGrath serves as the Chairman of Crossroads Media,[26][27] a private equity firm that acquires music publishing catalogues.[28] Working with Spectrum Equity Investors, he led the acquisitions of independent music publishing companies, including Bug Music in 2006[26][29][30] and Windswept Holdings in 2007.[28] McGrath served as chairman of Bug Music[27] through its sale to BMG in 2011.[26]

STX Entertainment

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Main article: STX Entertainment

McGrath was the chief operating officer of media company STX Entertainment from its formation in 2014 until May 2019.[31][32] The company specializes in financing, developing, producing, and distributing midtier-budget star-driven films.[33] STX has produced and distributed such films as The Gift, Bad Moms, The Edge of Seventeen, The Foreigner, and Molly's Game.

In April 2018, STX filed for an initial public offering on the Hong Kong Stock Exchange.[34] This was originally reported in 2017 with an estimated market value as high as $3.5bn±.[35][36]

Crossroads Live

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McGrath was the CEO of Crossroads Live, which produces and tours Broadway musicals in international markets.[4] Crossroads Live invests in multiple live entertainment ventures, including festivals, immersive attractions, musical theatre production and touring, and financial transactions with live entertainment companies and assets. The company also spans across film, television, music, and theme park industries. In 2019, Crossroads Live acquired David Ian Productions, and, in December 2020, the company also acquired the Gordon Frost Organization.[37][38] Most recently, Crossroads Live has produced Mrs. Doubtfire, Company and Almost Famous the Musical.[39]

References

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  1. ^ Los Angeles, Business Journal (23 July 2007). "Acquisition Means Bug Music Becomes Top Publisher". Los Angeles Business Journal. {{cite news}}: |first= has generic name (help)
  2. ^ Broadway.com, Staff (16 December 2010). "Done Deal! Key Brand Entertainment Acquires Leading Theater Website Broadway.com". Broadway.com.
  3. ^ Internet Broadway Database
  4. ^ a b Wall, Mine (1 November 2020). "Thomas McGrath New Worth". Wallmine.
  5. ^ NEC Board of Trustees
  6. ^ A.R.T. Board of Trustees
  7. ^ Thomas B. McGrath Broadway and Theatre Credits, Broadway World. Accessed February 14, 2018.
  8. ^ a b Craig Lambert, "The Future of Theater," Harvard Magazine, January–February 2012.
  9. ^ Tom McGrath bio, Crossroads Live. Accessed February 14, 2018.
  10. ^ a b c Michael Wolff, "Executive at the Gate," Vanity Fair, December 2004.
  11. ^ New York Times, AP (23 June 1982). "Coke Completes Columbia Merger". The New York Times.
  12. ^ a b c d Hilary Potkewitz, "Media mogul builds a Broadway empire," Crain's New York Business, December 30, 2009.
  13. ^ a b "Tom McGrath Named President of Paramount Enterprises," thefreelibrary.com, 2002.
  14. ^ "Los Angeles County". Los Angeles Times. December 12, 1987. Archived from the original on April 19, 2022.
  15. ^ "Executive Changes". The New York Times. December 14, 1987. Archived from the original on April 26, 2022.
  16. ^ Hans-Jürgen Jakobs (10 January 2005). "Der V-Faktor". Süddeutsche Zeitung. Retrieved 26 April 2012.
  17. ^ a b David Rooney, "Kevin McCollum, John Davis and Tom McGrath Pact With Fox on Theatrical Joint Venture," The Hollywood Reporter, July 11, 2013.
  18. ^ Justin Oppelaar, "McGrath has Enterprises," Variety, February 19, 2002.
  19. ^ a b Gordon Cox, "Live Nation sells off theater division," Variety, January 24, 2008.
  20. ^ Campbell Robertson, "Live Nation Finds a Buyer for Its Theater Business," New York Times, January 25, 2008.
  21. ^ Dave Itzkoff, "'Promises, Promises' Gets Its First Broadway Revival," New York Times, October 26, 2009.
  22. ^ Dave Itzkoff, "'Hair' Extends From Broadway to London," New York Times, November 17, 2009.
  23. ^ Dave Itzkoff, "Daniel Radcliffe to Star in 'How to Succeed' Revival on Broadway," New York Times, April 15, 2010.
  24. ^ Gordon Cox, "Fox Stage Prods. Shores Up Executive Suite as Studios Storm Stage," Variety, July 28, 2015.
  25. ^ Thomas B. McGrath, IBDB. Accessed February 14, 2018.
  26. ^ a b c David Lieberman, "BMG Continues Music Publishing Spree With Bug Music," Deadline Hollywood, September 12, 2011.
  27. ^ a b Ayala Ben-Yehuda, "Bug Music Secures $200M Credit Line," Billboard, September 17, 2008.
  28. ^ a b "Crossroads, Bug Sweep Up Windswept," Billboard, May 30, 2007.
  29. ^ Ed Christman, "Bug Music For Sale Again," The Hollywood Reporter, July 20, 2011.
  30. ^ Michael Wolff, "Serious Money," Vanity Fair, May 2007.
  31. ^ "Robert Simonds, Gigi Pritzker Pact with TPG, China's Hony Capital on Production Venture," Variety, March 10, 2014.
  32. ^ Michael J. de la Merced, "New Movie Studio Is Formed, With China and Self-Distribution in Mind," New York Times, March 10, 2014.
  33. ^ Brent Lang, "STX Entertainment Chief Says Huayi Deal 'Supercharges Our Business Plan'," Variety, April 1, 2015.
  34. ^ David Ng, "STX Entertainment files for planned IPO in Hong Kong," Los Angeles Times, April 26, 2018.
  35. ^ Wayne Ma and Julie Steinberg, "'Bad Moms' Movie Studio Plans Hong Kong IPO," Wall Street Journal, September 27, 2017.
  36. ^ Anita Busch, "STX To Launch IPO On Hong Kong Stock Exchange In 2018," Deadline.com, September 27, 2017.
  37. ^ Masso, Giverny (8 December 2020). "Crossroads Live acquires Australian producer Gordon Frost Organisation". The Stage.
  38. ^ Hershberg, Marc. "Theatre Touring Company Expands Global Footprint With Australian Acquisition". Forbes. Retrieved 2022-01-26.
  39. ^ Playbill, Playbill (2020). "Crossroads Live". Playbill.com.
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