Shari Redstone was not in the market for another studio’s gig. But the opportunity to invest and participate in the board of Israel’s fast-growing Sipur production company was an opportunity she was unable to pass away despite still holding her breath from the long slogan selling Paramount Global to Skydance Media for $8 billion.
Redstone was appointed chairman of Tel Aviv-based Sipur and has grown rapidly since it was founded in 2019 by Israeli investor Gideon Tadmall Emilio Schenker. Redstone talks about diversity as Sipur (which means “story” in Hebrew) works to advance its mission to build a global production power, making it a practical investment for her.
Redstone and Schenker met last year when Paramount acquired the rights to distribute Sipur’s documentary “We Will Dance Again.” He is also known for his popular Israeli ROM-COM “Noah,” featuring pop stars Noah Killer and Agustin Bernasconi.
“The more I learned about (Schenker), the more I was excited about this opportunity to meet his team and understand what he was doing,” Redstone says.
“To be honest, I wasn’t trying to join another business. I wanted to focus on my foundation and the work I’m doing. But the reality is that between the work he does in my foundation, he creates great content. They have an incredible business model. “And that’s not just a vision. It’s something they’re already doing and successful. So it’s been very exciting for me. I think it’s an extraordinary opportunity.”
Sipur has worked with Peter Chernin’s North Road Co. on international series such as Heart of a Killer and Netflix drama Bad Boy. He also produced this year’s documentary, “Aly We Good,” about comedian Marc Maron, and is working on “Buddy,” a horror photo starring Cristin Milioti.
The business model of Sipur’s production model was able to make the company thriving, even as content demand cooled down from its pre-pandemic peak TV peak, thanks to its low-end high-end show with international partners. Schenker’s business insight was key to landing Redstone’s involvement.
“The Hollywood system is broken in many ways,” Schenker tells Variety. “We provide solutions as a very young studio with a lot of ambitions. We are not a solution, but we provide solutions. The meaning of a studio is to be the owner of an IP, monetize that IP, build a library with the IP you own, and build value for the company.”
Gideon Tadmer
Schenker has maintained this laser focus from day one. To that end, he nurtured external capital from private sources. Sipur also launched with a seemingly contract with MGM TV. Other investors include Israeli banks Hapolim and Kraal Insurance.
“What we did from day one was to have stock in projects that require that fairness and build the value of that studio according to IP that could be exploited in the international market,” he says. “From her most important perspective, you need a lot of money to own an IP. When she thinks we can do it, we can get a very, very interesting victory with just a small portion of the investments that American studios need to make.
Redstone’s involvement will raise Shipur’s profile on the global stage. Sipur recently made a round of the festival and invested in Gus van Sant’s hostage thriller, “Dead Man’s Wire.”
“Shali’s key position in the entertainment and media industry, as well as her vast experience and passion, will allow Sipur to shape an exciting new chapter and become a unique and important global studio,” Tadmore said.
Another reason SIPUR appeals to Redstone is that much of the company’s work fits her Redstone Family Foundation goals.
“We are very focused on tackling the issues of racism and anti-Semitism that exist all over the world today,” Redstone tells Variety. “When I sit across the table from one-on-one people, my foundation is very focused on trying to expand one-on-one relationships to influence issues that concern us all.
