Terry Semel Joins SnagFilms' Board, Invests in Online Distributor
Terry Semel Joins SnagFilms' Board, Invests in Online Distributor
Indiewire Team
Terry Semel, former chairman of Warner Bros. and Yahoo, has joined SnagFilms' board of directors.
Semel is also investing in SnagFilms, the parent company of Indiewire.
"While more great films are being made every year, it is increasingly difficult to get indies into theaters or on TV," Semel said in a statement. "At Yahoo, we were one of the early proponents of the power of content showcased through new media. SnagFilms, with its large library and breadth of digital distribution, can help shape this next phase, bringing great stories to broad new audiences."
"SnagFilms is a company uniquely positioned at the intersection of great filmmaking, changing consumer behavior and new forms of distribution," stated SnagFilms' CEO Rick Allen. "Terry is a giant in both the film industry and digital platforms; his insight and leadership will be tremendously valuable as SnagFilms continues its rapid expansion as a high-quality entertainment provider and social video platform."
"We are thrilled that Terry has agreed to join the SnagFilms board," said Snag Films' founder and board chairman Ted Leonsis. "Terry's unmatched experience and extraordinary success, including at both Warner Bros. and Yahoo, makes him an incredible addition to our board. We look forward to his counsel as SnagFilms continues its mission of bringing quality independent films to audiences worldwide via new digital technologies."
Semel is chairman and CEO of Windsor Media, which he founded after leaving Yahoo in 2008. Before joining Yahoo in 2001 as chairman and CEO, Semel was chairman and co-CEO at Warner Bros.
SnagFilms currently holds rights to more than 3,000 feature films and documentaries; its most recent acquisitions included "Dragonslayer," "Enron: The Smartest Guys in the Room," "We Live in Public," "Jesus Camp" and "Casino Jack and the United States of Money." Films are available via ad-supported streaming on the SnagFilms site as well as via Netflix, Apple, Hulu, VOD and multiple platforms.
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