Jay Firestone

Jay Firestone (born October 31) is a Gemini award-winning film and television producer.

Early career

Growing up in a suburb of Toronto, Ontario, Firestone was the third child of six born to Jewish parents Esther and Paul. He attended Hamilton's McMaster University, graduating in 1979 with a degree in commerce and aspirations to springboard off of accounting into business. After wedding University of Toronto student Sherry Barad and earning his CA a few years later, Firestone joined accounting firm Peat, Marwick, Mitchell and Co.cite news
last = MacDonald
first = Gayle
coauthors =
title = Common touch
publisher = Report on Business Magazine
date = October, 2000
url =
accessdate = 2007-06-11]

Alliance Years

Firestone found himself disenchanted with the profession of accounting, and left the firm in 1985 to help found Alliance Communications with four of Canada's top producers. Firestone began as chief financial officer, but rose quickly, gaining a reputation as a talented dealmaker and creative businessman. In addition to his role as CFO, Firestone set up a tax-shelter financing arm which made the company plenty of money. He rose to the position of Vice-Chairman, and was the principal dealmaker for the company, overseeing its worldwide operations.cite news
last = McLaughlin
first = Gord
coauthors =
title = Jay Firestone buys Labatt film unit
publisher = Financial Post
date = January, 1996
url =
accessdate = 2007-06-11]

However, Firestone and Lantos (both known to be short-fused) had a serious and publicized falling out over the direction of the company, which lead to Firestone's abrupt departure in 1995 and "stunned the Canadian film and television industry." cite news
last = Enchin
first = Harvey
coauthors =
title = Firestone has Skyvision
publisher = Daily Variety
date = January 11, 1996
url =
accessdate = 2007-06-16] Firestone cashed in his company interests, leaving with respectable film and television credits such as ReBoot, for which he received a Gemini Award for "Best Animation Series." cite news
last = Shecter
first = Barbara
coauthors =
title = Fireworks to sell up to $30M worth of shares
publisher = Financial Post
date = October 25, 1997
url =
accessdate = 2007-06-11] cite news
last = Olijnyk
first = Zena
coauthors =
title = Have sword, will cut up critics
publisher = Financial Post
date = September 21, 2000
url =
accessdate = 2007-06-11]

Fireworks Entertainment

Building Years

After his departure from Alliance, Firestone was required to honour a one-year non-compete clause that prevented him from taking advantage of the surging Canadian film industry. But days after the clause expired, Firestone made headlines by purchasing SkyVision Entertainment (the film and television production arm of Labatt Breweries of Canada,) through his newly created company, Fireworks Entertainment, Inc. Firestone has said the name for his company was derived from his own last name, but is also symbolic of the exploding film and television industry. He often alludes to his company name in press, such as when asked by "Daily Variety" of the significance of his SkyVision purchase:In SkyVision, Firestone acquired 170 program episodes, including reality police series "Secret Service", and "", a television series based on the movie of the same name. Firestone and SkyVision also acted on plans for a pilot episode of a series based on the successful "F/X" films.

A year after Fireworks started, the company and its leader had gained a reputation for a quirky but highly effective method of conducting business,fact|date= April 2008 approaching $100 million in production through television series "La Femme Nikita", "" and "Pacific Blue". As Fireworks "came out of nowhere to nip at the heels of Canada's big integrated film and television companies,"cite news
last = Enchin
first = Harvey
coauthors =
title = Fireworks blazes into show business
publisher = Report on Business Magazine
date = March 17, 1997
url =
accessdate = 2007-06-11] Firestone was pitching shows with a squirt gun in his hand, casually referring to his company's unparalleled success as "having fun."

Less than a year later, Firestone was able to cash in this "fun" when he took Fireworks public in the fall of 1997. The stock offering came after Alliance, the company he helped build with Lantos, issued shares of its own in an attempt to capitalize on the increased appetite of investors for stock in Canadiant entertainment companies. The IPO saw about $30 million in shares sold by the company, with shares selling at over 10 times the expected 1997 earnings per share.

Acquisition by CanWest

A few months after taking Fireworks public, Firestone caught the eye of media magnate Izzy Asper, founder of CanWest Global Communications. In another headline-making move, Firestone sold the company to CanWest for over $60 million, making CanWest the sole shareholder and Firestone the chairman and CEO of Canwest Entertainment.cite news
last = Vlessing
first = Etan
coauthors =
title = CanWest ignites a deal for 79% Fireworks stake
publisher = Hollywood Reporter
date = May 6, 1998
url =
accessdate = 2007-06-17]

The deal gave Firestone access to a new pool of resources, and along with his past success earned him worldwide recognition. Firestone was a finalist for the 1998 Ontario Entrepreneur of the Year, and was featured prominently in the news media.cite news
last = Acharya
first = Madhavi
coauthors =
title = Entrepreneur gets 'big kick' from awards
publisher = Toronto Star
date = June 16, 1998
url =
accessdate = 2007-06-17]

Firestone was involved in over 20 film and television projects over the next five years and furthered his reputation as an intelligent and creative businessman. [ [http://www.imdb.com/name/nm0278649/ Internet Movie Database — Jay Firestone] ]

Earning credits on films such as "Rat Race", "Hardball" and "Rules of Engagement", as well as successful television shows "Relic Hunter", "Mutant X" and "Andromeda", Firestone cemented his place as one of the world's premier producers and dealmakers. Firestone also received accolades for the independent film "The Believer", which won the Saint George prize for "Best Film" at the 23rd Moscow International Film Festival. [ [http://www.jayfirestone.com Jay Firestone Dot Com] ]

Through all of his success, Firestone maintained his casual persona and fun-loving nature. Upgrading from a squirt gun to an elastic band gun, Firestone understood the important of a positive work environment and employee loyalty, though neither stopped him from shooting rubber projectiles at his officemates. A chalk outline of a dead body bearing the inscription "here lies the last person who said 'I don't know'" lay on his office floor, a fun reminder of his free but no-nonsense style of business.

Though a leadership change in CanWest would not affect Firestone's unique style of business, his relationship with the parent company would falter. After Izzy Asper fell ill and was unable to continue maintain his role in the company, his son Leonard was made CEO of the company. With the film industry rounding off its upward spiral and heading in in the opposite direction, CanWest implemented plans to downsize its entertainment arm, limiting the freedom Firestone had enjoyed previously as owner.

Firestone left the company in May 2003 along with Fireworks Pictures president Daniel Diamond, and was replaced by Gerry Noble, former CEO of Global TV. Firestone had a one year non-compete clause, which he honoured.cite news
last = Tillson
first = Tamsen
coauthors =
title = Fireworks founder Firestone exits
publisher = Variety.com
date = May 5, 2003
url =
accessdate = 2007-06-17]

Present

Firestone laid low for a while after his departure from Fireworks and CanWest, but has recently produced a horror film set to be released in 2007. The film, titled "Stuck" and starring Mena Suvari and Stephen Rea, tells the true story of a man hit by a car and left for dead in the driver's garage.

Firestone is also in the middle of a deal to make a television series out of the popular comic book series XIII.

His current work is done under the name "Prodigy Pictures", his most recently founded company.

External links

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* [http://www.jayfirestone.com Jay Firestone Dot Com]

References