Latest Business News
WGA Asks Tony-Nominated Guild Members Not to Attend Tony Awards
The Writers Guild of America has asked Tony nominees who are WGA members not to attend the Tony Awards on June 11, The Hollywood Reporter has learned. The WGA recently sent out an email to Tony nominees, who are also guild members, saying that instead of attending, they may pretape acceptance speeches, in case of […]
- By
Barack Obama: Studios “Wouldn’t Be Around If It Weren’t for Writers,” Says He’s “Hopeful” About Deal
Former President Barack Obama said he was “hopeful” that writers would get “a fair share of the fruits of their labor” as a result of the ongoing writers strike. During a live-streamed interview with Ira Glass in Washington, D.C., to promote his Netflix docuseries, Working, Obama opened up the conversation by sharing his support for […]
- By
Paramount Owner National Amusements Takes $125M Strategic Investment
Paramount Global owner National Amusements Inc. is getting a $125 million cash infusion that the Redstone family holding company says will help shore up its ownership of the entertainment firm. The strategic preferred equity investment, from BDT & MSD Partners, will be used to pay down its debt and pay back loans that had been […]
- By
Lionsgate Trims Quarterly Loss on Strong Revenue Gain
Lionsgate has released its fourth quarter financial results while continuing talks with multiple bidders on a possible sale or spinoff of the premium cable and streaming platform Starz or its studio business. The Hollywood studio trimmed its fourth quarter net loss attributable to shareholder to $96.8 million, against a year-earlier loss of $104.6 million, on […]
- By
Actors Settle Case On Inclusive Hair and Makeup Styling On Film and TV Sets In Canada
Canadian actors have settled an arbitration case to get makeup artists and hairstylists on predominantly white film sets trained in how to style hair or do makeup for performers of color, including those who are Black and Indigenous. ACTRA, the country’s actors union, last year filed a grievance against the Canadian Media Producers Association, representing […]
- By
Rebooted MoviePass Says It’s Expanding Nationwide
MoviePass, a rebooted version of the app that once burned through cash promising theatergoers all-you-can-watch features for a single fee, says it’s now going to expand nationwide again during the busy box office Memorial Day frame. In its latest incarnation, the firm, run by Stacy Spikes, has subscription plans that range from $10 a month […]
- By
World of Wonder Co-Founders to Receive The Hollywood Reporter’s Impact Award at Banff World Media Festival (Exclusive)
World of Wonder co-founders Fenton Bailey and Randy Barbato, the creative force behind the RuPaul’s Drag Race franchise, are set to receive The Hollywood Reporter’s Impact Award at the Banff World Media Festival. To honor the duo’s achievements, THR editorial director Nekesa Mumbi Moody will present the award to Bailey and Barbato, whose reality TV and other […]
- By
Cineworld Now Expects to Emerge From Bankruptcy in July
Movie theater giant and Regal owner Cineworld said on Thursday that it now expects to emerge from Chapter 11 bankruptcy in July. The second-largest exhibitor in the world had previously targeted to do so “by mid-year.” Cineworld had filed for Chapter 11 bankruptcy protection in September to look for ways to restructure its big debt burden. It then […]
- By
Endeavor President Frames Strike as a “Growth Opportunity” as Deal Will Give Writers More Cash
The ongoing WGA strike will ultimately be a net positive for Endeavor, the owner of talent agency WME, predicts Mark Shapiro, the company’s president and COO. Speaking at a JPMorgan conference Wednesday, Shapiro said that with regards to the strike, “both sides are really trenched in and there are significant issues, but it’s temporary.” However, […]
- By
Cinemark CEO: Studios’ Theatrical Slate Will Get Back to Pre-Pandemic Levels
Cinemark CEO Sean Gamble sees the number of Hollywood tentpoles at the multiplex catching up to 2019 levels so domestic box office can potentially surpass pre-pandemic highs. “We see content recovering to levels consistent with pre-pandemic levels, if not a touch higher as we look forward. It’s really a question of how long it takes […]
- By
Imax CEO Touts Premium Ticket Prices Amid Box Office Recovery
The global box office recovery for Imax has been driven by drawing premium ticket prices and releasing local language blockbusters in Asia. So says Imax CEO Richard Gelfond, who told an investors conference that consumers coming out of the pandemic are willing to pay a premium for “something special,” whether for music concerts or live […]
- By
Charter CFO on the “Vicious Cycle” of Pay TV Bundles
Cord-cutting has hit new heights. Cable giant Charter Communications has performed better than peers in this regard, but even its CFO Jessica Fischer acknowledged the challenges of the traditional pay TV bundle business on Wednesday. “The biggest issue in video has been and continues to be a cost issue,” she told the J.P. Morgan 51st […]
- By
Warner Bros. Discovery CFO On Streaming Bundles: “I Don’t Think It’s an Easy Thing to Pull Off”
Warner Bros. Discovery CFO Gunnar Wiedenfels has talked up Max, the studio’s revamped streaming service combining programming from both the original HBO Max streaming service and Discovery+ after it launched Tuesday. “It’s day one, but so far, so good,” the WBD finance chief told the JP Morgan Global Technology, Media and Communications Conference during a session that […]
- By
The Great Rebundling: Who Will Figure Out How to Rebuild Pay TV First?
At this point in the streaming wars, bundling, rather than M&A, is back in the spotlight. During a May 18 investor conference, Warner Bros. Discovery CEO David Zaslav was asked whether he would be interested in exploring a sports- and news-led “skinnier bundle” with content from the streamers. Zaslav, who had earlier been bemoaning the irrationality […]
- By
Tiger Woods and Rory McIlroy’s TMRW Sports Adds Justin Bieber and DJ Khaled As Investors (Exclusive)
A handful of heavyweights from the music industry are betting that America has an unmet appetite for golf content. Justin Bieber, DJ Khaled, Macklemore, Darius Rucker and Jake Owen have signed on as investors in TMRW Sports, a sports, media and entertainment company co-founded by golfers Tiger Woods and Rory McIlroy, and media veteran Mike […]
- By
Shaquille O’Neal Sued Over Astrals Crypto Ownership and Promotion
Shaquille O’Neal has been sued again over his cryptocurrency promotions, this time in connection to his Astrals Project. A proposed class action filed in Florida federal court on Tuesday alleges that O’Neal violated securities laws by selling unregistered Astrals tokens. Investor Daniel Harper claims that the former NBA star “should have known of potential concerns […]
- By