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BUSINESS UPDATE: Attracting World-Renowned Piercing Educators to Oswego
Growing number of renowed piercers are coming to Oswego to share knowledge at newly opened Aqua Spa Float Center piercing suite Submited by Aqua Spa Float Center & Wellness Boutique [caption id=attachment_11066 align=alignright width=450] Recent opening of Aqua Spa Float Center piercing suite.[/caption] Professional piercers and educators from countries including France, Scotland and India have come to Oswego’s Aqua Spa Float Center & Wellness Boutique to share their knowledge In the past year and a half, the Port City has become a destination for some of the industry’s most respected educators through the efforts of the Aqua Spa Float Center & Wellness Boutique. Beginning in January of 2025, Aqua Spa Float Center envisioned a new version of body piercing, one where elegance, safety and personal expression could converge. According to the Aqua Spa, piercing is no longer just a trend — it’s a refined form of personal identity, luxury styling and self-investment. It’s not only about the jewelry — it’s about the entire experience. The team welcomed first guest piercer Ruben Triguero, a senior French piercer, piercing stylist and international educator, who has over two decades of experience and has worked in some of the world’s best studios, including Paris, Rome, New York, Miami, Los Angeles and Dubai. In those studios, he offered his expertise and refined styling skills. Triguero is a prominent figure and leader in the piercing community and shares his knowledge with piercers teaching classes for the industry’s most prestigious organizations, including Latinoamérica Body Piercing Association (LBP) and Association of Professional Piercers (APP). He is currently the senior international instructor of the APP. Triguero has a passion for creating stunning, personalized piercings for clients around the world. Education and Mentorship Following a year of success and popularity, Aqua Spa Float Center hosted the grand opening of its private dedicated piercing suite in March. Aqua Spa Float Center & Wellness celebrated this next chapter with a grand opening and ribbon-cutting ceremony attended by the Oswego Mayor Robert Corradino, members of the Greater Oswego-Fulton Chamber of Commerce, local business owners and community members. The educational focus, aligned with Aqua Spa Float Center’s vision and mission, had already begun expanding beyond clients. Aqua Spa has hosted multiple workshops and continuing education opportunities for professional piercers, inviting studios from across the region to gain hands-on experience from internationally recognized instructors without the expense of traveling to national or international conferences. These educational events have welcomed nationally and internationally recognized professional piercers and educators from countries including France, Scotland, India, and throughout the United States. Aqua Spa also continues to collaborate with talented regional and local professionals, creating opportunities for education and mentorship that benefit both industry peers and clients throughout Central New York. Aqua Spa Float Center & Wellness Boutique owners — Tammy Wilkinson and Terry LeRoi — have been deeply rooted in the piercing industry with over 30 years in business as LeRoi Fine Body Jewellery. Combining that experience with holistic wellness, self-care and self-expression is the new concept with the client Luxe Piercing Experience at the Aqua Spa Float Center. “At LeRoi Fine Body Jewellery and Aqua Spa Float Center, we’ve been fortunate to work with many of the world’s most respected piercers through our involvement with the Association of Professional Piercers and by attending conferences across North America and Europe,” said LeRoi, founder of LeRoi Fine Body Jewellery and co-owner of Aqua Spa Float Center & Wellness Boutique. “Those experiences have shown us that education is what drives our industry forward. “Not every piercer or studio can travel to major conferences like the APP Conference in Las Vegas or APP Benelux in the Netherlands, so we’re committed to bringing that level of education here. Hosting internationally respected educators like Jef Saunders allows our clients to experience the highest standards of professional piercing while giving piercers throughout the Northeast the opportunity to learn from some of the very best in the profession. That’s something we’re incredibly proud to offer our community.” When asked about the client experience, Wilkinson explained that education is at the heart of every appointment as well. “Our vision is to nurture and enhance wellness, balance and harmony through a multi-modality-centered facility, and we aspire to empower sustained, positive change, well-being and self-awareness; and educate to the benefits of natural health, holistic wellness and life balance,” Wilkison explains. “Piercing is no different. The piercing experience feels just as peaceful and rejuvenating as any other spa services. From the moment our clients arrive, they are in the very best hands with our kind and professional Wellness Ambassadors and experienced APP guest piercers.” Wilkinson also explained that piercing clients receive stellar care: every Luxe Piercing appointment includes a one-on-one private piercing in Aqua Spa’s dedicated piercing suite, their choice of custom jewellery by LeRoi Fine Body Jewellery, thorough after-care instructions and complementary check-up appointment, complementary whole-body red light therapy session in the Class II NovoTHOR medical device to promote healing, and access to many rejuvenating spa services. Piercing clients get 15% off during any event. According to Wilkinson, “Health and safety are always our highest priority when you come in for a piercing or jewelry installation. Before each appointment, all tools and jewelry are sterilized in a Statim autoclave, and every surface in the piercing room is carefully disinfected. During the procedure, your piercer will wear a mask and change gloves as needed to maintain a sterile environment. Once your piercing is complete, your piercer will go over detailed aftercare instructions with you. Following these steps is crucial to ensure proper healing before you leave our sanctuary.” As a part of the experience, guest piercers include a thorough anatomy review of the client’s desired piercing to ensure the new addition will work in harmony with the existing. “Our clients are enjoying building and creating ear curations with these international professionals. It’s a unique styling event and a chance to highlight self-expression,” Wilkinson said. Clients and piercers throughout the region are flocking to this piercing destination in Upstate New York. The Luxe Piercing Experience has welcomed clients and piercers alike from around the globe. Owners Wilkinson and LeRoi hope to continue the momentum with more educational seminars with industry experts to be a hub of knowledge and expertise. They hope to establish LeRoi Fine Body Jewellery and Aqua Spa Float Center as legacy businesses known for their lasting, positive impact on the piercing and holistic wellness industries.
ECONOMIC TRENDS: Oswego County Launches Micro-Enterprise Grant Program
Small businesses will soon be able to apply for grants of up to $35,000 through a new program aimed at supporting local growth by Austin Wheelock | ooc@oswegocounty.org A strong, small business ecosystem is essential to a thriving local economy. Small businesses in Oswego County provide critical goods and services, create jobs and bring investment […]
N. Syracuse Manufacturer Marks Milestone, Plans for the Future
Air Innovations has grown from a small local manufacturer into a global business, selling its products in 74 countries organizations. Some of its clients include NASA, Blue Origin and SpaceX. By Stefan Yablonski [caption id=attachment_11117 align=alignright width=450] Michael Wetzel, president and CEO, and his father, Larry, who currently is an adviser to the board of directors. Larry served as the chairman of the board until 2024, when the company was acquired by Altus Capital Partners, a private equity firm.[/caption] Air Innovations in North Syracuse hopes to add more employees and possibly even expand its facility in the near future. The company is a global leader in designing and building environmental process control systems for applications that can’t be addressed with standard HVAC equipment, according to Michael Wetzel, president and CEO. “We customize solutions for temperature, humidity, filtration and pressurization, with additional capabilities in direct-expansion, chilled-water and thermoelectric technologies. Our business now is entirely focused on specialty or niche markets.” Air Innovations celebrated its 40th anniversary on Sept. 18, marking four decades of doing business, manufacturing products and growing in Central New York. In the beginning [caption id=attachment_11138 align=alignright width=451] A worker, Ezzy Salehi, tests a Wine Guardian condenser unit at Air Innovations.[/caption] “A guy by the name of Jim Kelley started the business [known as Floratech] in 1986. It was focused on refrigerated display cases for supermarket fresh flowers,” Wetzel said. “My father [Larry] started Clean Room Technology in the early 1980s, then sold that to a French company called Clestra Cleanroom. “My father and I bought Floratech in 1996 — 30 years ago, 10 years after it was started. Then in 1999, Floratech bought a portion of Clestra and their building. At that point everything was still called Floratech. But, as that was not reflective of the diversity of the business, we rebranded as Air Innovations in 2001.” The company rebranded to pursue a strategy of diversification in specialty HVAC systems. Wetzel explained that since then, it has become a trusted global partner, earning the President’s “E” Award for Exports and securing contracts in the most demanding fields, including aerospace, defense and semiconductor manufacturing. Air Innovations has grown from a small local manufacturer into a global business, selling nearly 70,000 units in 74 countries and territories and developing custom environmental control systems for companies and organizations including NASA, Blue Origin and SpaceX. “We work with all the big names you ever heard of and some you never heard of,” Wetzel added. The Wetzels sold the business two years ago to Altus Capital Partners, a private equity firm focused on control investments in lower middle-market, niche manufacturing companies in North America. Founded in 2003, Altus Capital Partners’ headquarters is in Wilton, Connecticut, with an additional office in Lincolnshire, Illinois. “They are an equity firm. Both my father and I both maintain a small minority share. I am going to continue to be involved. I call myself a part-time CEO. I will continue that role for the foreseeable future; I don’t see any change there.” Building to the future “We are at 58 employees right now, which is a little bit down. We had a high of 70. That moves along with the activity we have,” Wetzel said. “We’ll start ramping up here in the fourth quarter into next year. More than 20% of our employees have been with the company for more than a decade. “I am fairly certain that sometime in the next several years we are going to have to enlarge the footprint of our facility and for sure we are going to have to add employees. We already are. We are probably going to have to add five or six people next year. We are always in the market for HVAC technicians; we always need those.” Air Innovations will remain in Central New York, with its current workforce staying in place, he added. “I believe the primary driver of our success over time is the diversity of our business which is a direct result of our willingness to tackle new challenges,” Wetzel said.
Mom-and-Pop Business Owners Grapple with Harsh Times
Report shows small business owners in NYS less optimistic about the economy. Taxes, inflation, labor costs and competition from larger businesses are major concerns right now, they say By Aaron Gifford [caption id=attachment_11067 align=alignright width=300] Ashley Ranslow is director for New York state at The National Federation of Independent Business (NFIB).[/caption] Owners of mom-and-pop businesses in New York state have been less optimistic lately than their peers in other parts of the country, a recent report indicates. The National Federation of Independent Business (NFIB), based on a survey of 11,000 of its members in the Empire State, reported that taxes, inflation, labor costs and competition from larger businesses are major concerns right now. “Indeed, while taxes are a major problem in New York and the United States overall, New York small businesses notably are struggling more with the state’s onerous, multi-level tax burden,” Ashley Ranslow, NFIB’s director for New York state, said in the July report. Compared with surveys of business owners in other states, far fewer New York respondents rated their businesses as in excellent or good health. The report also said labor costs here are about 25% higher than the national average and are the “single most important problem” facing businesses. One respondent to the New York-specific survey complained that too much red tape, taxes and laws that restrict high-yielding companies have stifled their operation’s growth. Others said high disability and workers’ compensation insurance costs, alarming increases in utility rates and excessive building regulations are discouraging. Statewide, New York has a gross domestic product of $2.53 trillion (third in the nation, followed by Texas, $2.90 trillion; and California, $4.25 trillion), a per capita income of $90,500 (sixth) and an unemployment rate of 4.6% (34th). There are 2.4 million small businesses that employ 3.9 million people. [caption id=attachment_11112 align=alignright width=451] Member of the Greater Liverpool Chamber of Commerce gather at one of the several functions the chamber organizes monthly. “Everyone in this business community encourages each other to shop local. Everyone just wants to see each other succeed,” says Megan Wilmot, the chamber director[/caption] “New York state boasts one of the largest, wealthiest and most diverse cities in the world — and that’s still only about half the state’s population,” the report said. “In other words, the state is both its iconic city and so much more — geographically, demographically, economically. But New York is not without its challenges, challenges that include notably high taxes and other weaknesses that impact the small business environment,” it said. The report includes an optimism index that compares responses from New York (NFIB) members with those of their peers in other states across several categories. This ranges from plans to increase employment to expectations for higher sales, to plans to increase inventory or expand. The scores for Empire State business owners were lower in most categories, but they did score higher than the national average in noting that they have current employment openings, and that they are hopeful that the economy will improve. “The metrics so far paint a picture of a state with a series of challenges for small businesses, from a slightly below national average Optimism Index to a more seriously below national business health to very substantially below national Employment Index. What is going on with businesses that are creating these differences?” the report stated. In Central New York, the regional labor force comprises nearly 398,000 workers. The median household income here is $71,463, and the gross domestic product for the region last year totaled $61.3 billion, according to the CenterState CEO economic development and research organization. About half of the region’s labor force works for small and mid-sized businesses, although the number of people employed in that sector has decreased by 7% since 2010, according to CenterState’s 2026 economic forecast report. “While record-high employment in large-scale enterprises provides a strong foundation for Central New York,” the report says, “the long-term health of communities depends on a thriving small business sector to serve as a stabilizer.” Area employers identify several barriers to Central New York’s anticipated growth, including lack of specialized or skilled workers, government regulations, unaffordable housing options and long-term construction disruptions. In the city of Syracuse, the number of jobs in retail trade decreased by 1,500 or 4.7% between July 2025 and this past July. By contrast, the number of jobs in the leisure and hospitality sector increased by 2.5% or 700 jobs, in the same annual period, according to the New York State Department of Labor. Still, there’s plenty of interest for new businesses across Central New York. U.S. Census figures show that the number of applications for new businesses in all four counties increased significantly in the past 20 years. In Cayuga County, there were 324 applications in 2005 compared to 470 last year. In Madison County, the number increased from 385 to 480; Onondaga County, from 2411 to 4132; and Oswego County, from 553 to 836. Downtown Cazenovia is exemplary of Madison County’s trend: In the past year, the village welcomed a bait shop, a thrift store, a vitamin infusion center, a pizzeria, a Pilates studio and an Italian restaurant. A candy store is scheduled to open on the main drag in the months ahead. Oswego’s list of interesting new businesses in the past year includes a bubble tea shop, a hot dog eatery in Fulton, a specialty grocery store that features New York state products in Mexico, a beauty and esthetics studio in Hannibal and a hardware and farm supply store in Sandy Creek. In Onondaga County, the Liverpool area has also enjoyed a steady stream of new shops and eateries in recent years. That suburban community is unique in that, unlike neighboring communities, most of the restaurants are family-owned and not part of a national chain. [caption id=attachment_11116 align=alignright width=300] Megan Wilmot is the executive director of the Greater Liverpool’s Chamber of Commerce.[/caption] Megan Wilmot, executive director of the Greater Liverpool Chamber of Commerce, said independent business owners in her community maintain a strong sense of pride in holding their own against national companies. The chamber helps boost morale with red carpet events, ribbon cuttings, coffee hours and five-year anniversary celebrations for participating businesses. “We have built such a strong community,” Wilmot said. “Everyone in this business community encourages each other to shop local. Everyone just wants to see each other succeed.” In Syracuse, the downtown retail occupancy rate last year was about 82%, a slight improvement from 2024, according to the Downtown Syracuse Committee’s most recent annual report. Buildings with the largest amount of vacant space included The Galleries, One Park Place, and Equitable Towers, though not all of those spaces are designated for retail use. New businesses that opened in downtown Syracuse last year: Better with Time Clothing, Dakshin Curry & Biriyani, Havana Tattoo Society, Milano Bean Café, Miss Daisy, Pausa Coffee, Sweets for Babe, The Society CNY and Yafah Beauty Studio. The Destiny USA mall’s occupancy rate decreased from 80% in 2023 to 72% by the end of 2024, according to Integra Realty Resources. That leaves more than a quarter of the mall’s retail space vacant. “Looking ahead, the retail market is expected to see minimal rent growth, with vacancy rates likely remaining stable in community and neighborhood centers but continuing to rise in enclosed malls,” Integra’s report said. “New construction activity is low and redevelopment plans for former malls like Shoppingtown and Great Northern are still in the planning stages. The proposed Micron chip plant may spur development, but challenges remain in finding co-developers for large-scale projects.” Nationally, the U.S. Chamber of Commerce expects that small businesses will remain resilient and see their sales and revenues eventually improve. That organization, in a recent national survey, found that 25% of small business owners expect the economy to improve in 2027, while 45% indicated that they plan to increase employment in the next 12 months. And 69% said they believe their small business is in good shape and 70% said they are comfortable with their current cash flow. Thirty-one percent of small businesses reported raising their prices in July and 28% are planning to raise their prices within the next three to four months, the report said. Twelve percent indicated that this is a good time to expand their business. “Small business owners voice optimism for future revenues and hiring,” the report said. “High costs continue to be a wet blanket on reinvestment.” The NFIB reported in July that Main Street, despite gas price hikes, “is OK … for now.” Its small business economics trend report said sales across the country have been strong compared to last year, but continued inflation and higher prices from mom-and-pop establishments are causing some “cracks” to show. “If costs stay this high for much longer, reduced investment will have a tangible economic impact,” the report said. “The status quo is OK, but the outlook? The outlook is uncertain.”
Retiring from Farming
Start now to ensure your farm passes to the next generation Deborah Jeanne Post [caption id=attachment_11062 align=alignright width=405] Adam C. Howell, outreach director at Cornell’s NY FarmNet: “Retirement from farming is atypical planning,” he says.[/caption] Roughly 70% of family-owned farms will transfer ownership withing the next two decades, according to data from to the USDA census. Only 30% of those will remain in the family. The number of farms in New York is shrinking as the size of farms increases. In other words, there are fewer farms in the state, but they’re much larger. This is why succession planning is so important for family farms. A farm represents not only a way to make a living but a legacy and family tradition. Many families want to preserve the small farm segment of agriculture and the values it represents. Passing the family farm to the next generation can’t be left to chance. And it shouldn’t be left for “the kids to figure out” after the older generation dies. Succession planning in agriculture isn’t like other types of business retirement planning or personal final planning. “Retirement from farming is atypical planning,” said Adam C. Howell, outreach director at Cornell’s NY FarmNet. “Most farmers, their assets and the way they live and survive in retirement is tied up in the equity in the farm. Those conversations must take place a lot earlier than they think. They’re dealing with something asset-heavy that may require a trust and tax planning.” NY FarmNet offers farmers free, confidential consultation services regarding financial and business management, and family, and mental health support for farmers in New York state. It’s a program of Cornell University in Ithaca. Howell urges farmers to begin the conversation early. Most family farms are run by generations with the oldest generation most involved and typically with fewer of the middle-aged adults and young adults involved. Some of the younger generation may have off-farm jobs and not live on the homestead. “Different people have different expectations on their legacy,” Howell said. “Intergenerational conflict and discussions can be difficult. It may be good to check with NY FarmNet or Ag Mediation to help mediate these conversations with a third party. A lot of farms have broken up because people can’t decide how to divide things.” New York State Agricultural Mediation Program is a USDA‑certified, free or low‑cost service for farmers. Fair is not always equal. A sole owner simply stating that he wants to divide things equally among his children may leave one-quarter of the farm operation to an adult child who moved away and hasn’t sat in a tractor for decades. The three adult children who have toiled on the farm for 30 years may need to buy out the fourth, non-farming sibling but cannot because all of their money is tied up in the equipment, land and stock that supports their livelihood. Their payrate may not allow them to set aside much to buy out the non-farming sibling. As a result, they may need to sell parts of the farm off in order to keep it. However, doing so may limit their ability to sufficiently support their families. The farm owner may need to bequeath more assets to the farming siblings because their efforts have kept the farm going and without those assets and their work, the farm will cease operations. Howell advises seeking professional help on tax and legal issues. Without it, families can be exposed to expensive problems and infighting. A third-party expert can help farm families navigate what is truly fair in the family’s succession plans. Beyond the practical aspects of inheritance, succession also relies upon planning who will operate the farm and how. “I think it’s important that farmers understand the means and methods of farming are always changing,” Howell said. For example, many young adult farmers earn a degree at a school such as Cornell, SUNY Cobleskill or Morrisville, work on a different farm for a while and then return to their family farm with big ideas on how to improve the farm — if only their dad and uncles will agree. Intergenerational conflict is often centered on newer ideas such agritourism, online marketing and shipping goods. “It causes conflict,” Howell said. “A lot of it comes down to communication and respect within the family. If no one in the family wants to take on farming, what we’ll see is older farmers start to help trusted managers buy into the farm.” The middle-aged generation, now in their 40s and 50s, often struggle with wresting the helm from their parents. Howell said that many older farmers don’t discuss with their grown children their vital business information such as vendors, ordering supplies, pricing, recordkeeping and farm planning. They even claim that “the kids” aren’t ready yet. These gaps in cross-training may cause significant problems even before the older generation dies, if there’s an illness or injury. Howell urges farmers to document these processes and cross-train others on the farm how to handle these areas “to make sure if one person is incapacitated, the entire operation is not at risk,” he said. Mark Modzeleski, financial adviser, financial planner and president at Legacy Wealth Advisors of NY in Syracuse, advises families to talk sooner than later about who should be operating the farm. “Someone is driving the farm,” he said. “Have you decided who? Be honest when you have that conversation. Who do they turn to when there’s a question? Or who has the potential to be leaders?” Planning for leadership continuity is vital. Unfortunately, talking like this can become fraught with emotions if it’s only the family involved. Modzeleski advised finding a third party who can help drive the conversation. “Invite the right people to the conversation who can get you from point A to point B,” he said. “This is a marathon, not a sprint.” It may take sitting down a few times with an estate planning attorney who specializes in farm transition, along with a tax professional and others who can help moderate and plan. Family members, owners and possibly, integral farm managers should attend the meetings. “Figure out what you want your legacy to be,” Modzeleski added.
Former Buccaneers tight end Devin Culp signs with Browns
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Week of Well-Being highlights health and personal growth
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Broward Health Medical Center Introduces Bispecific T-Cell Engager Therapy for Cancer Patients - Florida Hospital News and Healthcare Report
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Former assisted living facility in Huxley converted into apartments
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Byrum Brown's Turnovers Headline Joel Gordon's Concerns Before Georgia
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Voter suppression is happening in the South. This organizer fights it.
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Backlash grows as 'World of Warcraft: Midnight' continues to represent the most painfully, miserably weak writing in all of Blizzard (12.1.5 SPOILERS)
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Italian growth outlook brightens but slowdown ahead, business lobby says
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Cleveland Browns 2027 Week One Roster Prediction
Previous Position RoomWe will start by looking at how Andrew Berry's position room has been built to start the season each year:2020 - Hooper, Njoku, Bryant, Carlson 2021 - Hooper, Njoku, Bryant 2022 - Njoku, Bryant, James 2023 - Njoku, Bryant, Akins 2024 - Njoku, Akins 2025 - Njoku, Fannin, Whiteheart 2026 - Fannin, Whiteheart, RyanCash Spending Per YearHere is the cash they have spend on the...
IMF sounds alarm on rising government borrowing costs
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Yemen: Health system faces mounting pressure as fighting intensifies
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Sean McVay reveals Alaric Jackson’s next move after NFL suspends Rams star for throwing punch
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Dodgers Reveal Important Shohei Ohtani Decision Before NLCS Game 3
The Los Angeles Dodgers will enter Game 3 of the NLCS against the Milwaukee Brewers tomorrow night. Ahead of the meeting, the organization revealed a decision on Shohei Ohtani. According to Jon Morosi of MLB Network, skipper Dave Roberts announced that Ohtani will be in the lineup for Game 3. NEWS: Dave Roberts says Shohei […] The post Dodgers Reveal Important Shohei Ohtani Decision Before NLCS Game 3 appeared first on HEAVY.
Former Buccaneers Draft Pick Signs With Browns
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Justin Baldoni makes rare public appearance in “DWTS ”audience after “It Ends With Us” legal battle
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BROWARD HEALTH MEDICAL CENTER INTRODUCES BISPECIFIC T-CELL ENGAGER THERAPY FOR CANCER PATIENTS - Florida Hospital News and Healthcare Report
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Cattle futures lower waiting on direct business
At the Chicago Mercantile Exchange, live cattle were lower, feeders were mostly lower waiting on direct business to develop. December live cattle closed $.22 lower at $226.37 and February live cattle closed $1.00 lower at $228.57. November feeder cattle closed $.07 lower at $341.02 and January feeder cattle closed $.10 higher at $335.85. Direct cash […]
When 1 + 1 = 1: The Miserable Math Behind Many Media Mergers
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) The last few issues of this newsletter have circled two topics: September’s streaming viewership and all the Paramount/Skydance/Warner Bros./Discovery merger news. I’m happy to say on the Streaming Ratings Report front, we’ll be all caught up by early next week, then the SRR will come out on a tight weekly schedule. Then, after today, I’ll have slayed my PSWbD dragon. It’s such a big story, it demanded multiple issues. With the announcement of a name (just Skydance) and executive team, though, I think we can almost close the book on this story. In terms of topics, it becomes just another studio to cover. So today, I have one last set of takes on that merger. As I’ve sat with it, reading about who was staying and who was going, a big worry crystallized in my brain, and I gotta get that take out. Plus, I still owe you a host of “ugliness” that didn’t fit in my previous “The Good, The Bad and The Ugly” takes. Let’s dive in! Subscribe Most Important Story of the Week - As Paramount Shuffles Deck Chairs, Will They Build or Consolidate? On social media—I try to avoid most social media platforms, but sometimes I end up checking in—the best joke I saw about the announcement of the new name of Skydance was from fellow reporter Claire Atkinson who pointed out… Yeah, I laughed out loud at that one. Later, though, I saw another Twitter response (that later got deleted, so I can’t shout the person out) that did give me pause. The person noted that the Titanic film made the better analogy: a super expensive project everyone in the town doubted that went on to conquer the globe. So yeah: on one hand, the image of the Titanic recalls the actual ship and its infamous end, but that clip is from a movie which proved the doubters wrong. So for all the skepticism of the latest massive media merger, one could wonder which way this one goes. Does it crash like the Titanic or rise to glory like Titanic, the movie? Either way, this deal is “Titanic”, looking at the massive debt required to close the deal, which is not going well when it comes to borrowing costs for Paramount… …or borrowing costs for Oracle. But I’ve started to get worried about another outcome: the sum of this merger will be smaller and weaker and less profitable than its former parts. In other words, one plus one won’t equal three or two, but an even smaller number. Skydance paid to take a traditional studio off the board, but they won’t really capture the upside. Let me explain what I mean, but first, let’s look at the series of news that inspired this thought. Skydance Sets Its Leadership Team As soon as the Paramount-Skydance-Warner Bros.-Discovery merger closed, the new leadership team announced a new name—Skydance, which I’ll use going forward—and a new executive leadership team. You’ve probably read through all the executive shuffling, but if you haven’t, here’s a quick, incomplete summary, in rough order of importance: Mattel’s CEO Ynon Kreiz—who previously ran Maker Studios—joined as co-CEO with David Ellison. HBO/HBO Max’s Casey Bloys will stay and run streaming. Former head of streaming for Paramount-Skydance Cindy Holland—who was also at Netflix—will depart. The former heads of Warner Bros.—Pam Abdy and Mike De Luca—are out. The film studios will be run by Dana Goldstein and Josh Greenstein. George Cheeks of Paramount will run Skydance TV, controlling all the TV production units. In comic book news, the DC films will still be run by Peter Gunn and Peter Safran. Lastly, the head of CNN, Mark Thompson, will stay in place. Let’s quickly opine on the particulars before diving into the broad ramifications. We’re just getting started with this issue, but the rest is for paid subscribers of the Entertainment Strategy Guy, so if you’d like to find out… Who I like and dislike in their next gigs… Why I think this consolidation will likely leave Skydance worse off… The math behind which mergers succeed and which don’t… A lot more ugliness in this merger… And a whole lot more... ...please subscribe! We can only keep doing this great work with your support.
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