Industry leaders gathered at Spago in Beverly Hills on Wednesday for The Hollywood Reporter’s 16th annual Power Managers breakfast, a high-stakes event that highlighted the shifting landscape of entertainment finance. Presented by City National Bank and sponsored by Venable LLP, the morning served as a backdrop for the release of the publication’s annual Business Managers Power List, which honors the architects behind the fortunes of Hollywood’s elite.
Navigating the Seismic Shifts in Media Consolidation
The event featured a keynote conversation between THR editor-in-chief Maer Roshan and United Talent Agency (UTA) CEO David Kramer. The dialogue centered on the recent, industry-shaking merger of Paramount Skydance and Warner Bros. Discovery. Kramer acknowledged that such consolidation creates volatility for talent representatives, noting, “Like all sellers, you need more buyers, not less. But you need those buyers to be healthy.”
While Kramer remains optimistic about the potential for the new entity to greenlight fresh stories, other industry voices were more skeptical. Lisa Callif, a founding partner at Donaldson Callif Perez, delivered a candid assessment of the merger’s impact on the indie sector. “I wouldn’t say it’s the best thing for independent content creation,” Callif stated, revealing that some of her clients have already seen projects previously backed by the studio suddenly lose their momentum following the corporate shuffle. Her advice to clients remains cautious: do not rely on the merged behemoth to sustain independent film production.
The Intersection of Generative AI and Copyright
Beyond corporate mergers, the event delved into the increasingly complex role of generative AI in creative workflows. Callif, who manages a portfolio of documentary filmmakers, noted that the technology is currently used primarily as a backend tool for postproduction tasks, such as enhancing graphics.
However, the legal threshold for using AI remains a significant hurdle. Callif highlighted the rigid stance of the U.S. Copyright Office, which mandates human authorship for legal protection. She advised creators that using AI requires a high degree of transparency with regulators to ensure that the resulting work does not fall into a legal gray area. As the tech industry continues to integrate AI into creative software, legal experts are urging producers to maintain detailed documentation of their process to navigate these evolving copyright requirements.
Honoring Excellence in Business Management
The ceremony’s marquee moment was the presentation of the Business Manager Icon award to Michael Ullman, CEO of Platinum Financial Management Inc. The tribute emphasized the deep, personal connections that exist behind the glitz of the entertainment business. Steven Shapiro, Ullman’s longtime banker, praised his “fierce loyalty,” while boxing legend Sugar Ray Leonard shared a touching story of Ullman’s personal support during the 2025 Palisades Fire.
In his acceptance speech, Ullman reflected on a career that spanned nearly four decades, tracing his roots back to a classified ad in the Los Angeles Times. “As I look back at the past 37 years, what strikes me most isn’t the business we’ve built or the milestones we’ve reached, it’s the people,” Ullman remarked. With tributes from high-profile stars like Brooke Shields and Miles Teller, the event underscored that despite the rapid evolution of technology and the corporate volatility of Hollywood, the industry continues to function on the strength of long-term personal relationships and professional trust.
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