Cannes: Download THR's Day 5 Daily
The fest's fifth daily issue includes a look at Amazon's $1.5 million deal to nab U.S. rights to a popular French-language drama and how Donald Trump’s escalation of the U.S.-China trade war has rattled Chinese buyers.
The Hollywood Reporter has released its fifth Cannes Film Festival daily, which includes news that Amazon Studios has acquired Les Miserables and a look at how the trade war has rattled the film sales relationships between the U.S. and China.
An Oscar Contender?
Amazon Studios has nabbed U.S. rights to the French-language drama Les Miserables, marking the first significant deal for a domestic acquisition at the Cannes market. The film, from writer-director Ladj Ly, screened in competition Wednesday and drew raves for its gritty, loose take on the Victor Hugo novel of the same name. THR has learned a source pegged the deal at $1.5 million, making it the biggest sale ever at Cannes for a first-time director.
"I Don’t Feel Confident About Buying American Movies Right Now"
Donald Trump’s escalation of the U.S.-China trade war on the eve of Cannes has left China’s once cash-flush film buyers newly wary of U.S. product this week. Few analysts expect Beijing to retaliate against Trump’s tariffs by blocking Hollywood studio tentpoles from distribution — local exhibitors are too reliant on such titles for revenue, and their absence from screens would generate unwelcome attention to the trade war among the Chinese public — but small and mid-range American films could be more exposed, Chinese buyers fear. THR takes a look at how tensions with Beijing has limited acquisitions of small and mid-range indie projects in the Middle Kingdom