Filed under: MISC
The Disney film, "The Jonas Brothers: The 3D Concert Experience," was a dud at the box office earlier this year; "Jonas," a new Disney Channel comedy, is a ratings disappointment. One of the group’s managers says: "We are transitioning to a slightly older audience." (Iwantmedia 5/26, http://www.nytimes.com/2009/05/25/arts/music/25jonas.html 5/25)
Filed under: MISC | Tags: Arts, Entertainment, Hollywood, Jonas Brothers, Miley Cyrus, Miramax Films, movie, Walt Disney Company
Film flops threaten to leave Disney in last place at the box office among its Hollywood peers for the second-straight year, as movies featuring television stars Miley Cyrus and the Jonas Brothers disappoint. Also: Indie filmmakers fear Disney will dump its Miramax Films unit. (Iwantmedia 5/18, http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aXbZJx0NdNz4 5/18)
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Filed under: MISC | Tags: Blockbuster, Business, Metro-Goldwyn Mayer, Minimal instruction set computer, Movie studio, Providence Equity Partners, United States, Wall Street Journal
The Wall Street Journal reports that Blockbuster’s first-quarter revenue shrank nearly 20% to $1.12 billion and earnings dropped 39%. Blockbuster said few strong movies were available for rental during the quarter, but big titles, including “Watchmen,” will be out soon. The Wall Street Journal (5/15)
Metro-Goldwyn-Mayer, the movie studio controlled by Providence Equity Partners and TPG, is in talks to restructure $3.7 billion in debt. The studio says it aims to stay independent. (Iwantmedia 5/15, http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aAkQCXqtlHvg 5/14)
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Filed under: MISC
If Hollywood mogul David Geffen ends up acquiring the New York Times, he would convert it into a nonprofit institution, confidantes say. Geffen regards the newspaper as a national treasure meriting preservation into perpetuity. Still, "David would hope the newspaper makes a profit." (Iwantmedia 5/13, http://www.newsweek.com/id/196997 5/13)
Sumner Redstone’s National Amusements has received a first round of bids for its theater chains, with bidders offering enough to help the company pay off its debts. Also: Redstone is being sued by Midway Games creditors over claims the video-game maker was hurt by his stake sale. (Iwantmedia 5/13, http://www.reuters.com/article/americasPrivateEquityNews/idUSTRE54B7ED20090512 5/12)
IMAX and AMC may have some damage control to do here. Bloggers, Diggers and tweeters are passing around a posting by Parks and Recreation co-star Aziz Ansari calling for a boycott of the companies, claiming that the exhibitors are selling an inferior bill of goods. Aziz complains that he paid $5 extra to see Star Trek on an IMAX-branded screen at an AMC multiplex in Burbank, only to discover that the screen size was a fraction of the size of the traditional 76 x 97 feet IMAX screen. The two companies teamed last year to begin offering cheaper co-branded screens in multiple AMC locations. (Cynopsis 5/13)
Filed under: MISC
Blockbuster, the movie-rental company that was once the only game in town, now finds itself scurrying for market share against a number of competitors on a variety of fronts, including online and in vending machines, according to this report. The once-dominant player in the video space reports its quarterly earnings on Thursday. The Wall Street Journal (5/11)
The new "Star Trek" film, from Viacom’s Paramount Pictures, opened with $72.5 million in ticket sales, the best debut in the 11-movie franchise. The debut may pave the way for still more "Star Trek" films. The media giant is likely to reap additional revenue from spin-off consumer products. (Iwantmedia 5/11, http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aNsNjedi7cp4 5/10)
Filed under: MISC
The new "Star Trek" film from Viacom’s Paramount Pictures is forecast to rake in more than $70 million its opening weekend. A hit could offer new opportunities for merchandising. The studio promoted the film through the Internet, mobile phones and other non-traditional media. (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aLesMe8OgzQ8 5/8)
