MEDIA VALUATION PARTNERS

About Larry Gerbrandt

Larry Gerbrandt
Media Valuation Partners
2931 S. Sepulveda Blvd., Suite I
Los Angeles, CA 90064
Phone: 323-988-0506
Email: larry@mediavaluation.com

Bio: More than 30 years of experience as a media & entertainment analyst and as a research and publishing executive. Founder and principal of Media Valuation Partners, which provides valuation, market research and litigation support. A leading media and entertainment executive, research analyst and consultant for more than 25 years, have focused on the economic and strategic implications of the intersection between traditional media and emerging content delivery technologies. Background includes experience in film and video production, commercial photography, cable TV system operations and magazine publishing. Joined Kagan World Media, a groundbreaking media research organization, in 1984. As senior analyst and senior vice president of Kagan’s entertainment division, oversaw more than two dozen of its newsletters and databooks and led its valuation practice. In 2000, after Kagan’s sale to Primedia, became COO and led its integration into Primedia’s MediaCentral division. Upon Kagan’s subsequent sale to MCG Capital joined AlixPartners to lead its entertainment consulting and litigation support practice. In 2005 was recruited by The Nielsen Company to become SVP/general manager of Nielsen Analytics, focusing on emerging media technology economics and conducting primary research on consumer adoption of new media platforms. Widely quoted as an expert on trends and economics in the M&E industries and has served as moderator of more than 200 Kagan and industry panels and conferences. An award-winning fine art photographer and a graduate of Regis University with a bachelors degree in business administration.

Media Valuation Partners, Beverly Hills, CA 2007-Present
Founder and Principal
MVP provides valuation, appraisal, fair market value, strategic research, market analytics, litigation support, expert witness, strategic consulting and market forecasting services with an emphasis on media, entertainment, cable, broadcasting, motion picture, home video, television programming and emerging technologies.

Nielsen Analytics, a division of The Nielsen Co. Hollywood, CA 2005-2007
Senior Vice President/General Manager
Creating leading edge research, analysis, strategic advisory and valuation services to companies in the media & entertainment space with a particular focus on the convergence of content delivery and consumer media technology and the underlying economic models in the television, motion picture, cable, satellite, music, home video, video game, mobile entertainment and publishing industries. Author of the Nielsen Economics of On-Demand Programming and Benchmarking The Digital Household reports. Also developed the concept of the Uber Media Consumer and performed extensive research on this category of heavy media and entertainment user. A member of Nielsen’s Primary Research Council, which focused on improving cross-platform and fusion research activities within Nielsen and coordinating the wide range of consumer level research initiatives.

AlixPartners LLC, Los Angeles, CA 2004-2005
Director
Joined firm in July 2004 to build AlixPartners’ media and entertainment practice, focusing on valuation, consulting and litigation support. Headquartered in Southfield, MI, AlixPartners is a leader in providing financial advisory services, including litigation support, consulting, valuation and restructuring to a wide range of industries.

Kagan World Media, a Primedia company. Carmel, CA 1984-2004
Chief Operating Officer/Senior Analyst
Joined firm in 1984 as associate editor and was promoted to analyst in 1985. Became vice president, with added corporate responsibilities, in 1988. Promoted to senior vice president in 1992 and was responsible for Kagan's entertainment and programming research operations and oversaw a team of analysts covering the cable and broadcast network programming, DBS, TV syndication, home video, motion picture, pay TV and Internet industries in 1992. Named chief operating officer, responsible for all Kagan content, publishing, research, appraisal and consulting operations, in February 2001. Kagan was acquired by Primedia Corp. in October 2000 and then merged into the Media Central LLC joint venture between Primedia and Steven Brill in February 2001. Media Central was dissolved in May 2003 and Kagan was sold to MCG Capital in March 2004. Over a span of two decades, helped build Kagan into one of the leading media and entertainment research firms, with a client base of over 5,000 individuals and firms.

Served as senior analyst and contributor to more than 20 different newsletters, including CONSUMER MEDIA TECHNOLOGY, HOME SHOPPING INVESTOR, INTERNET ADVERTISING, CABLE PROGRAM INVESTOR, STREAMING MEDIA INVESTOR, VOD INVESTOR, THE PAY TV NEWSLETTER, CABLE TV ADVERTISING, MOTION PICTURE INVESTOR, DIGITAL TELEVISION, MARKETING NEW MEDIA, CABLE TV TECHNOLOGY, ELECTRONIC PUBLISHER, THE DBS REPORT, INTERNET MEDIA INVESTOR, TV PROGRAM INVESTOR, TV PROGRAM STATS, MOVIESTATS, CABLE TV INVESTOR and KAGAN MEDIA MONEY.

Also authored or contributed to numerous special reports on entertainment topics, including THE CONNECTED HOUSEHOLD, MEDIACAST 2006/2007/2008, THE PAY-PER-VIEW REPORT, THE CHANNEL CAPACITY REPORT, THE CABLE INTERCONNECT REPORT, THE CABLE ADVERTISING REPORT, KAGAN MEDIA TRENDS, THE STATE OF HOME VIDEO, THE STATE OF DBS, HOME SHOPPING, ECONOMICS OF BASIC CABLE NETWORKS (1995, 1996, 1997, 1998, 2000), CHANNEL COMPRESSION: A STRATEGIC ANALYSIS, CABLE MODEMS: A STRATEGIC ANALYSIS. Had corporate oversight responsibilities for PKA's investment In two leading cable trade publications, Cable World and Cable Avails, which were sold in January 1994 to Cowles Media. As senior analyst, also moderated numerous Kagan Seminars, Inc. conferences, including The Digital Household Summit, The Future of Pay-Per-View, Motion Picture Production & Finance, TV Program Finance, Interactive Multimedia Forum, Video-On-Demand, High Speed Access Summit, as well as conferences dealing with home shopping and streaming media. Wrote a monthly column "Letter From America" for Kagan’s Euromedia magazine from 1999-2002. Also oversaw company’s investment in a TV syndication company run by Drew Levin.
Was also senior consultant to KAGAN MEDIA APPRAISALS, which engaged in consulting, expert witness and valuation assignments and has performed appraisals of media assets aggregating to more than $85 billion. Acted as consultant on many of KMA's entertainment and programming-related assignments and has been responsible for fair market value appraisals of numerous movie libraries, totaling in excess of 4,000 titles, including being designated as Disney’s expert witness in the Katzenberg v. Disney case. Other valuation assignments included numerous cable networks, movie theater chains and TV libraries. Strategic consulting assignments include assessments of market opportunities in the motion picture, home video, cable programming, PPV/VOD, home shopping and TV syndication sectors, both U.S. and international markets.

ORION CABLE SYSTEMS, INC. Denver, CO 1982-1984
Operations Manager
Managed 15 private cable/SMATV systems with over 2,000 subscribers operating along the front range of Colorado for this division of Orion Broadcast Group (a startup media company which went public in 1983). Was responsible for all phases of system operations, including franchise negotiations, construction,
marketing, programming and billing. Left the company after overseeing the successful sale of division operations to another SMATV firm.

BRIMSTONE FILMS Dallas, TX 1978-1982
Producer
As one of the founders of Brim, Stone, Gerbrandt & Guetzlaff, Inc. (dba Brimstone Films) in 1978, acted as line producer on dozens of TV commercials, award- winning industrial films and museum documentaries. Clients included Tandy Corp. (Radio Shack), Dr Pepper, Pizza Hut, Precision Tune, Neiman-Marcus, Texas Sports Hall of Fame and the East Texas Oil Museum. After completing a one-hour TV special on the Hemingway family, sold interest in company to an outside investor. During this period, Brimstone also formed a joint venture with Chuck Bua to form a creative boutique advertising agency: Brimstone & Bua.

THE NATIONAL COURIER Plainfield, NJ 1976-1977
Freelance Photojournalist
A regular contributing photographer and reporter for this national weekly newspaper, launched by Logos Publishing in 1976.

CHRIST FOR THE NATIONS, INC. Dallas, TX 1974-1978
Managing Editor
Was responsible for all publishing at this non-denominational missionary organization and Bible institute, including a monthly magazine with a circulation of 144,000 and a book catalog of over 200 titles. Also served as part-time photography instructor at the CFN Institute.

EDUCATION:
Alameda Senior High School, Lakewood, CO. Graduated in 1970
Colorado State University, Ft. Collins, CO. Major: Plant Pathology 1970-1972
Metropolitan State College, Denver, CO Major: Journalism 1972-1973
Regis University (formerly Loretto Heights College), Denver, CO 1984-1985
Received Bachelor of Arts degree in Business Administration in 1985.

LITIGATION CONSULTING HISTORY:

Deposition              Bella Abzug, et al v. Kirk Kerkorian/MGM/UA

Deposition              Credit Lyonnais v. Houlihan, Loki, et al

Deposition              Filerman, et al vs. Fox Broadcasting Co.

Declaration             Fox Family Properties, Inc. v. CBS, Inc; Touchstone TV; Jerry Bruckheimer; CAA

Testimony               Internal Revenue Service vs. Marian B. estate (RKO library rights, Tax Court, Washington, DC)

Testimony               Joseph Murana et al vs. Bank of Montreal and Peat Marwick Thorne (Canada)

Testimony                Litchfield Theatres, Ltd. bankruptcy court hearing (Charlotte, NC)

Deposition               Mainline Pictures v. Kim Basinger

Affidavit                   MCA v. Viacom  New York)

Deposition &           
Michael DeWoody, et al v. Hopkins & Sutter (Ft. Worth, TX)
Testimony       

Deposition                MTA/Persik v. MGM/UA Pictures, et al

Testimony                 New Visions Productions vs. Cineplex Odeon (AAA Arbitration)

Deposition                 Persky-Bright v. Columbia Pictures        

Deposition                 Rafelson, et al. v. Columbia Pictures Industries (The Monkees)

Deposition &              Recreation Broadcasting, Inc. and KTV, Inc. vs. United Cable TV of Colo. et al (Denver, CO)
Testimony

Deposition                 SelecTV v. Amway

Deposition                 Simon Marketing, Inc. v. Promotional Concept Group

Affidavit                     Singer v. Danson (affidavit filed, Los Angeles)

Testimony                  Sonic Cable vs. CableAd Image (San Luis Obispo, CA)

Deposition &              Syufy Enterprises v. State of California
Testimony

Deposition                  T. Rex Productions v. Whoopi Goldberg

Deposition                  Vestron v. Security Pacific

Testimony        1994    Copyright Arbitration Royalty Proceedings, Copyright Office,         
                                 Library of Congress

Testimony        1996    Digital Performance Right In Sound Proceedings, Copyright 
                                 Office, Library of Congress

Testimony        1997    Satellite Arbitration Royalty Proceedings, Copyright Office, Library
of Congress

Deposition        1997    Schonfeld v. Hilliard

Deposition        1997    Wherehouse Video bankruptcy reorganization (Delaware)

Testimony        1998    Sheldon, et al v. Columbia Pictures, Inc. et al (CA Superior Court)

Deposition        1999    County of Alameda v. St. Michael Investments, et.al

Deposition        1999    Katzenberg v. Disney

Deposition        1999    Leonard Ross vs. @Radical, Levi Strauss, Foote, Cone & Belding
                                  and David LaChapelle

Deposition        1999    USA v. ASCAP (Civil Action #13095, Southern District Court of New
                                  York, rate proceeding)

Deposition        2000    Belo Holdings, Inc. and PJ Health Programming, Inc. v. AHN
                                  Holdings, Inc. and Columbia/HCA Healthcare (Dallas, TX)

Deposition        2000    Lipson v. New Frontier Media

Testimony         2000    Ticketmaster vs. N2K (California Superior Court)

Deposition        2000    USA v. ASCAP (rebuttal)


Declaration &    2001    Bochco vs. Fox
Deposition

Testimony         2001   Click vs. Trimark (AAA proceeding in Los Angeles)

Deposition &     2001   PJ Health Programming, Inc. v. AHN Holdings, Inc. and
Testimony                   Columbia/HCA Healthcare (Dallas)"

Deposition &     2001    Wex vs. TVN (Arbitration)
Testimony

Deposition        2002    Furtherfield Partners, L.P. v. Perelman, et al. (Panavision)

Deposition        2003    Blatty/Friedkin v. Warner Bros (Exorcist)

Deposition &     2003    Echostar v. TV Azteca
Testimony

Deposition &     2003    Ivy Street Productions v. Sony Pictures, Columbia, et al. (George)
Testimony

Deposition &     2003    Modi v. ESPN
Testimony

Testimony        2004    Arclight v. Bob Yari International (AAA Arbitration)

Declaration      2004    Attachment to the Supplemental Comments of TV One, Federal
                                 Communications Commission, In the Matter of Notice of Inquiry
                                 on A La Carte and Themed-Tier Programming and Pricing Options
                                 for Programming Distribution on Cable Television and Direct
                                 Broadcast Satellite Systems, MB Docket No. 04-207

Deposition        2004    Krikorian v. Westminster

Deposition        2004    Logix v. Emerald Entertainment

Deposition &     2004    Promark Sports v. Gateway Computers (San Diego, CA)
Testimony

Deposition        2004    USA v. ASCAP (Local broadcasting rate setting proceeding)

Deposition        2005    Medical Illustrators v. Advanstar

Deposition &     2005    Wolf v. Walt Disney Enterprises (Los Angeles, CA)
Testimony

Deposition        2006    Intertainer v. Movielink

Testimony        2006     Krikorian v. Westminster (Riverside County, CA)

Declaration      2008     Film Musician’s Secondary Market Fund v. Nu Image, Inc. et al
(Damages)

Declaration      2008     In Support of Comments of the National Cable &
                                  Telecommunications Association, In the Matter of Leased
                                  Commercial Access, Federal Communications Commission,
                                  MB Docket No. 07-42

Testimony       2008      Dick Wolf v. NBC Universal (Arbitration)

Deposition &   2009      Universal Studios LLLP, et al. v. RealNetworks Inc., et al.
Declaration


Testimony       2009      North American Residential Communities, Inc. v. Woods et al
                                  California Superior Court, San Bernardino County


Declaration &   2009     Herring Broadcasting, Inc. v. Comcast Corp, Federal Communica-
Deposition                   tions Commission, MB Docket No. 08-214, File No. CSR-7907-P

Declaration,     2009     NFL Enterprises LLC v. Comcast Cable Communications, LLC,
Deposition &                Federal Communications Commission, MB Docket No. 08-214
Testimony                   File No. CSR-7876-P

Declaration,     2009      TCR Sports Broadcasting Holding, LLP, dba Mid/Atlantic Sports
Deposition                    Network vs. Comcast Corporation, Federal Communications
                                  Commission, MB Docket No. 08-214, File No. CSR-8001-P

INDUSTRY CONFERENCES:
1996 CTAM PPV Conference, Orlando, FL--Keynote presentation
1997 CTAM PPV Conference, Atlanta, GA--Keynote presentation
1997 USC Entertainment Law Institute, Los Angeles, CA--Keynote presentation
1998 North American Broadcasters Association (NAMBA)--Panel presentation
1999 NATPE, New Orleans—Panel presentation
1999 CTAM Digital Conference, New Orleans—Keynote presentation
1999 Women In Cable National Leadership Conference, San Francisco—“Programming 101” seminar
1999 Streaming Media West—Roundtable discussion
2000 CTAM Digital & PPV Conference—Los Angeles—Keynote presentation
2000 Streaming Media East—Panel presentation
2000 Yack Program Partners--Moderated panel2000 TiVo Advertising Partners--Panelist
2000 Streaming Media West--Panelist
2001 Accenture Media & Entertainment Partners Conference--Keynote presentation
2001 Streaming Media West--Moderator
2001 National Association Broadcasters--Moderated New Media track sessions
2001 CTAM Pre-Western Show Panel—Moderator
2002 OSTA—Panelist
2003 Consumer Electronics Show—Panelist
2003 OSTA—Panelist
2004 Digital Hollywood—Moderator
2004 Digital Media—Panelist
2004 BCFM—Moderator and Panelist
2004 adTech—Panelist
2004 Great States/Boxoffice Conference--Moderator
2005 NATPE—Moderator
2005 Digital Hollywood—Moderator
2005 Banff World TV Festival—Moderator/Panelist
2006 VON Conference—Moderator
2006 Digital Hollywood—Panelist
2006 Dow Jones VentureWire Consumer Technology Ventures
2007 Digital Hollywood—Panelist
2008 Digital Hollywood Spring—Host/Moderator
2008 Building Blocks—San Jose—Host/Moderator
2008 Digital Hollywood Fall—Host/Moderator
2008 Consumer Electronics Show—Digital Hollywood--Moderator

MCLE PRESENTATIONS:
Oct. 2004--Impact of Emerging Technologies on Entertainment Asset Values—Strook, Strook & Lavan
Jan. 2005—How To Value a Motion Picture Library—Akin Gump
Feb 2005—How To Value a Motion Picture & Television Library—Lord Bissell

ASSOCIATIONS:
Interactive Television Alliance, Advisory Board
National Association of Photoshop Professionals

MEDIA:
Interviewed on FNN, CNN, Good Morning, America
ABC Evening News, 4/24/97
ABC Evening News, 5/26/97
Pundits Panel, The Cable Channel, 1997/1998/1999/2000 Western Show and National Show
Silicon Spin show on ZDTV cable network, May 1999
PBS Frontline, 11/22/01
CNBC Europe, 1/25/05
National Public Radio, 12/9/08
ABC-TV News, 12/31/08
Extensively quoted in Wall Street Journal, New York Times, The Los Angeles Times, The Atlanta Journal-Constitution, The Philadelphia Enquirer, The Denver Post, USA Today, Newsweek, Business Week Time Magazine, The Washington Post, Forbes, Crain’s New York, Business Week, Daily Variety, Hollywood Reporter, Cable World, Electronic Media, Broadcasting & Cable, Multichannel News, Boxoffice Magazine, TV Guide, San Francisco Chronicle, San Jose Mercury News, Fortune Magazine, Sports Illustrated.

AWARDS & EXHIBITIONS:
National Science Foundation Summer Fellowship, Clemson University, 1969
New York International Film Festival (various in 1979-81)
Underwater Photo Society (1993 & 1995 California Beach Dive Photo Competition)
Monterey County Fair 1994, 1995, 1996, 1997, 1998 Photography Exhibition (1996 & 1997 1st place awards, Best of Show in 1998)
Center For Photographic Art 1997, Center Awards, Exhibiting Artist
Featured in Polaroid's Test magazine in 1998 (developed a new technique for creating Polaroid transfers)
Center For Photographic Art 1999, Center Awards, Exhibiting Artist
MRCSD 2000 Division IIB Socko Team Champs (catcher)

A portfolio of photographic images can be viewed here.

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