The management team of the SPAC is yet to be announced but several leading names from the film industry have been approached as the team sound the market for the right mix of executives to execute on their ambitious plans.
According to the sponsors, the timing of such a SPAC, themed on the film industry couldn’t wish for a better launch window. Hollywood has suffered the perfect storm of eroding market share and an unprecedented slow down and freeze of the industries activities due to the pandemic. The situation was already tense before Covid 19 as many studios unhealthy debt burden meant that they were on the cliff edge. Today the only hope to revitalize and give new direction to Hollywood is fresh capital and bold management.
The Hollywood SPAC plans to lead the way of an industry wide disruption that is much needed to ensure that Tinsel Town remains the driving force of the World’s entertainment sector.
