Category: Business

‘James Bond’ studio demanded $600M deal to move from theatres to streaming: Report

Bosses at MGM Studios reportedly put a $600 million price tag on new James Bond movie No Time To Die as they considered a streaming deal in place of a theatrical release.

The movie, Daniel Craig’s final outing as 007, was supposed to be released back in April 2020, but was pushed back until November right at the start of the Covid-19 pandemic. It has since been pushed back again until April 2021 – and Variety reported producers considered scrapping the theatrical release altogether.

“The studio was said to be looking for a deal of roughly $600 million — a price tag that was deemed too rich for two of the free-spending streaming services,” the publication claimed, with Apple TV+ and Netflix among the platforms reportedly in the mix for the possible acquisition.

A representative told Variety: “We do not comment on rumours. The film is not for sale. The film’s release has been postponed until April 2021 in order to preserve the theatrical experience for moviegoers.”

No Time to Die, directed by Cary Joji Fukunaga, also stars Jeffrey Wright, Lea Seydoux, and Rami Malek.

Netflix, Bell Media reduce video quality to lower internet bandwidth use

Netflix is lowering video quality for its subscribers in Canada as it attempts to reduce soaring demands on internet bandwidth in the midst of the COVID-19 pandemic.

The streaming giant says it introduced changes on Thursday that are designed to slash its data traffic by 25 per cent, as internet service providers deal with a surge in user activity.

The lower bandwidth streams of Netflix programs should still deliver the usual quality of each plan, the company said, whether it’s ultra-high definition 4K, high-definition or standard definition.

“We believe that this will provide significant relief to congested networks and will be deploying it in Canada for the next 30 days,” said Ken Florance, vice-president of content delivery, in a statement on Thursday.

The move comes as telecom companies are seeing a rise in bandwidth usage while Canadians self-isolate at home and use video-streaming services more frequently than usual.

Bell Media said it’s planning its own traffic measures for its Crave streaming service, which offers programming from HBO and Showtime. The telecommunication company’s quality reductions may downgrade higher-definition streams even more than Netflix.

“Crave does plan to temporarily reduce the quality of streams on certain devices,” the company said in a statement late Thursday.

The Crave 1080p and 4K streams will be reduced to 720p on Android mobile devices, Chromecast and Apple products, including its Apple TV devices, it noted.

Netflix previously introduced bandwidth measures in other parts of the world over the past two weeks. Similar reductions in video quality were made in Europe, India, Australia, New Zealand and some Latin American countries.

In a blog post last week, Florance explained that Netflix has many different levels of streaming quality for each title within each resolution tier. With the changes, Netflix is simply removing the highest bandwidth streams, which lowers the bitrate per second on the streams, he said.

“If you are particularly tuned into video quality, you may notice a very slight decrease in quality within each resolution. But you will still get the video quality you paid for,” Florance wrote at the time.

“We are living through a global crisis, and we all have a responsibility to help where we can,” he added.

Other streaming companies have made changes in certain regions to limit bandwidth.

YouTube announced similar moves to ease the pressures on internet traffic earlier this week, while Disney Plus and Amazon’s Prime Video have enacted bandwidth measures in Europe.

Disney told CBC News it is lowering its overall bandwidth utilization by at least 25 per cent throughout Canada as a proactive measure.

“We are monitoring Internet congestion and working closely with Internet service providers to further reduce bitrates as necessary to ensure they are not overwhelmed by consumer demand,” Disney said in a statement.

Representatives for Amazon did not immediately provide comment.

Marvel Studios President Kevin Feige On Spider-Man: “It Was Never Meant To Last Forever”

Marvel Studios president Kevin Feige has issued his first public comments about the Disney/Sony dispute over future Spider-Man film financing.

“I’m feeling about Spider-Man gratitude and joy,” Feige said, speaking at D23’s Entertainment Weekly booth. “We got to make five films within the MCU with Spider-Man: two standalone films and three with the Avengers. It was a dream that I never thought would happen. It was never meant to last forever. We knew there was a finite amount of time that we’d be able to do this, and we told the story we wanted to tell, and I’ll always be thankful for that.”

Earlier this week, Deadline’s Mike Fleming broke the story about Disney seeking a 50/50 co-fi stake (sources said the original Disney ask was more reasonable) as the price for Marvel and Feige’s continued guiding hand on the films, which resulted in the delivery of Sony’s biggest-grossing film ever.
The dispute that has taken place over the past few months at the top of Disney and Sony has essentially nixed Feige participation and the future involvement of Marvel from the Spider-Man universe, sources said.
This comes at a moment when the last two films Kevin Feige produced broke all-time records — Disney’s Avengers: Endgame became the highest-grossing film of all time, and Spider-Man: Far From Home this week surpassed the James Bond film Skyfall to become the all-time highest-grossing film for Sony Pictures

Sony declined to meet those terms or even counter with anything worth considering. It was an aggressive stance by Disney, which already owns the merchandise on Spider-Man, and a tough nut for Sony to swallow, giving up half of its most valuable franchise. But these talks had been going on for some time. Had Sony agreed to Disney’s ask, Marvel and Feige would not have withdrawn from the Spider-Man films, sources said.
Sony is planning two more Spider-Man installments, though it is an open question whether those will include Jon Watts, director of the first two films guided creatively by Feige.

Holy Rocket Raccoon! James Gunn Is Back on Guardians of the Galaxy Vol. 3

Months after a manufactured controversy about crude tweets saw Disney eject Gunn from the third movie in his Marvel cosmic series, Marvel Studios has confirmed that, shockingly, the director will return after all.

Deadline reports that Gunn and Marvel have now confirmed that he will helm production on the third Guardians movie, and that the actual decision made to re-hire Gunn—brought about by Gunn’s apology over his prior tweets and through extensive talks between the director and Walt Disney Studios president Alan Horn—occurred months ago, despite allegations at the time that Disney was still not ready to bring the director back on board. io9 has confirmed with Disney that the details of Deadline’s report are accurate.

Gunn was removed from Guardians of the Galaxy Vol. 3 in July of last year, after right-wing commentators resurfaced years-old crude commentary Gunn had made on social media, targeting the director for his outspoken disapproval of Donald Trump as part of what became a pattern of bad-faith harassment campaigns by internet trolls over the last year. Gunn immediately apologized for the tweets, but at the time, the apology was not enough for Disney.

Furor from both fans and members of Guardians cast in the months that followed led to production on the third movie in the saga—always rumored to be Gunn’s last with the current iteration of the cosmic superhero team that first ventured out in 2014’s surprise smash hit movie—being put on hold, allegedly while a replacement for Gunn was sought out.

According to Deadline however, Marvel never actually met with another director for Guardians, despite rumors that Thor: Ragnarok’s Taika Waititi or Ant-Man’s Adam McKay could step in. Although complications arose when Gunn was snapped up by Warner Bros. to write and direct the DC Comics sequel The Suicide Squad last October, Kevin Feige’s team at Marvel Studio and Horn’s at Disney were willing to wait for Gunn to become available again before bringing him back to the fold.

Production on Guardians for Gunn will begin after production has concluded on The Suicide Squad, which is currently expected to hit theaters in August 2021.

James Gunn has now weighed in, with his first tweet since July 19, 2018:

I am tremendously grateful to every person out there who has supported me over the past few months. I am always learning and will continue to work at being the best human being I can be. I deeply appreciate Disney’s decision and I am excited to continue making films that investigate the ties of love that bind us all. I have been, and continue to be incredibly humbled by your love and support. From the bottom of my heart, thank you. Love to you all.

Aquaman overtakes Wonder Woman at global box office

Aquaman just swam past another superhero box office milestone.

As of Wednesday, the film has overtaken 2017’s smash Wonder Woman in global ticket sales, putting Warner Bros.’ Dec. 21 release in second place among all DC Extended Universe titles.

Aquaman now has $822.9 million in international sales, edging past Wonder Woman’s cume of $821.8 million.

The King of Atlantis has been helped enormously by overseas interest, with international sales responsible for 75 percent of the film’s revenue — a significantly greater percentage than the other DCU titles (China leads the way, where Aquaman has grossed a whopping $275 million to become the country’s second-biggest superhero film of all time behind Avengers: Infinity War). If you look at domestic ticket sales, however, Aquaman is still running well behind Wonder Woman, $189 million to $330 million. Wonder Woman also remains the best reviewed of the DCEU titles (ranked 93 percent fresh to Aquaman‘s 64 percent — though the ultra-fantastical still rates higher than all other DECU titles).

Aquaman is also on track to easily become the DCEU’s top global title, with only 2016’s Batman v Superman: Dawn of Justice ($873.6 million) yet to surpass — and that should happen by the end of the week. The James Wan film already shot past 2017’s Justice League ($657 million) during its first week of U.S. release, then surpassed 2013’s Man of Steel ($668 million) and 2016’s Suicide Squad ($746 million).

Next up for the DCEU is Shazam!, which comes out April 5.

CBS in ‘Preliminary Discussions’ to Renew ‘Big Bang Theory’ for Season 13

“Big Bang Theory” could be back for a thirteenth season.

During an appearance at the TCA summer press tour on Sunday, CBS Entertainment head Kelly Kahl said that the company and Warner Bros. Television, which produces the show, are already discussing renewing the show beyond its upcoming twelfth season.

“We don’t believe it’s the final year,” Kahl said. “We are in preliminary discussions to renew the show with Warner Bros.” The announcement drew tweets of “huh” and “fascinating” from series co-creator and executive producer Bill Prady.

Warner Bros. declined to comment.

Series star Johnny Galecki also said back in January that he and the cast would be comfortable ending the show with Season 12.

“The only way we’ve discussed wrapping the show is we’re all going to be very sad when that day comes,” he said. “I think at this point everyone is very comfortable with 12 seasons being a good time to go home and see our families.”

“Big Bang” was renewed for Seasons 11 and 12 last year, with the five original members of the series ensemble — Jim Parsons, Galecki, Kaley Cuoco, Kunal Nayyar and Simon Helberg — all striking new deals. The previously mentioned stars are said to have taken pay cuts in order to free up funds for pay increases for newer stars Melissa Rauch and Mayim Bialik.

The show remains a major force not just on CBS but across all of television. Season 11 averaged a 2.7 rating in adults 18-49 and 14 million viewers an episode in Live+Same Day and was frequently the top shows in Live+7 as well.

Cineplex’s latest idea: movie theatre snacks delivered to your home

Some Canadians with a hankering for movie theatre popcorn without the trek to a cinema are in luck.

Cineplex Inc. has started to offer delivery of concession stand snacks — popcorn, hot dogs, candy, nachos and soft drinks — to customers in 60 communities throughout Ontario, Alberta, B.C. and Quebec this week.

One offering under the plan, which the company dubs its ‘Cineplex Movie Night In Combo’ would see anyone who signs up get a HD movie rental, two medium popcorns, two medium candies and two medium drinks for $28.99. All of which they would consume without ever leaving their home.

The offering, a partnership with Uber Eats, comes months after Cineplex tested delivery in university towns in southern Ontario and as the entertainment giant ramped up its efforts to diversify its revenue beyond movie screenings, whose profits can be unpredictable because they are dependent on the strength of the films studios roll out.

To combat that unpredictability and the popularity of on-demand streaming services that are increasingly convincing film lovers to stay home to watch movies, Cineplex has expanded concession stand products, offered VIP seating and opened Rec Room gaming bars and a Playdium arcade centre in Ontario.

Those ventures have drawn in a young demographic that is also likely be a fan of the delivery service, Cineplex chief executive Ellis Jacob said.

“I know when I was studying for exams, I didn’t want to leave (the house), but I still wanted a treat,” he said. “This allows you to do that or if you’ve got little kids and you want to watch something at home, you can do that and have the goodies at the same time.”

The service is available in cities including Vancouver, Edmonton, Calgary, Ottawa and Montreal, but parts of downtown Toronto will be left out of the offering because some theatre concession stands aren’t easily accessible for Uber Eats drivers.

If there is demand for an expansion to unserviced areas, Jacob said Cineplex will look at using its Rec Room gaming bars and head office as hubs for delivery or consider opening a distribution centre.

For now, he said the company will focus on Ontario, Alberta, B.C. and Quebec because of their high populations and the company’s large network of theatres there.

The foods Cineplex will deliver from theatres in those provinces will be packaged for deliveries. Popcorn will be double-bagged and sealed at the top, so kernels don’t spill out in transit and hot dogs will be wrapped in foil and dropped off alongside condiments in small packages.

On top of concession stand treats, customers will also be able to order combos that include movie rentals from the Cineplex Store.

If the service takes off, Jacob said delivery customers might see new treats crop up for delivery.

Lisa Marie Presley says her share of Elvis’ $100M fortune is gone

Lisa Marie Presley claims her former business manager squandered her entire share of late father Elvis‘ $100 million fortune.

In new court documents obtained by The Daily Mail, Presley, 50, alleges that Barry Siegel assured her that her finances were in “good shape” while he whittled her $100 million trust down to just $14,000 in poor investments, including a hefty investment in the “American Idol” holding company, which went bankrupt after the show’s initial run ended in April 2016.

In her filing, Presley alleges that Siegel and Provident Financial Management billed her $4.9 million to manage her $100 million trust, amounting to a salary of just over $700,000 per year for Siegel.

“Had Siegel disclosed the trust’s true financial condition to Presley and restricted spending to the trust’s ‘income’ rather than its principal assets, Presley would have lived comfortably on an annual budget of between $1.5 and $2 million per year, after taxes,” the documents claim. “On this budget, Siegel’s lucrative compensation package would have amounted to between 40 to 50 percent of Presley’s post-tax annual budget — an amount she undoubtedly would not have agreed to had she been aware of her true financial condition.”

She accuses Siegel of liquidating the trust’s assets after the “Idol” investment failed to generate income in order to accommodate her lifestyle, alleging that he recommended she spend twice her annual post-tax income. That spending reportedly includes a $9 million estate in England with a balloon payment of $6.5 million in 2015 that the trust didn’t cover. She also claims that mortgages on her Hidden Hills, Calif., and Hawaii homes were worth more than the properties themselves by 2010.

Siegel and Provident Financial Management scoffed at Presley’s allegations, claiming in a countersuit that her money problems are simply due to her own exorbitant spending. They’re seeking a cool $800,000 in damages and argued that because Presley is going through a difficult time with her divorce from fourth husband Michael Lockwood, she’s pinning her troubles on them.

Lockwood, 57, demanded $40,000 in spousal support from Presley, who claimed she was $16 million in debt, $10 million of which was back taxes alone. A judge ruled that while she doesn’t yet need to shell out monthly spousal support to the unemployed musician, she would have to pay $50,000 to his attorney for court fees.

Ryan Reynolds Teases ‘Deadpool 2’ Could Be End of Franchise

Although “Deadpool 2” is tracking for an enormous opening weekend of $150 million and the first film broke records, Ryan Reynolds isn’t sure whether there would be a third movie in the franchise.

“I don’t know that there would be a ‘Deadpool 3,’ I really don’t,” Reynolds told Entertainment Weekly. “I feel like the character, in order for him to function properly within his own universe, you need to take everything away from him. I don’t think that you can keep doing that.”

However, while Reynolds isn’t sure whether Deadpool would get another solo film, the actor does see the Merc with a Mouth as part of a team.

“I do see him as being a part of X-Force, obviously. I would love to see him in a team-up sort of thing, like a mano a mano or a great female character from the X-Men universe,” he said. “I just think if you’re going to do another Deadpool solo film, you’ve got to really, like, get that budget down to nothing and just swing for the fences, and break all kinds of weird barriers, and do stuff that no one else can do.”

Reynolds is already part of the “X-Force” film that Drew Goddard will write and direct. Zazie Beetz and Josh Brolin are also already attached as Domino and Cable, respectively. The film was originally announced in 2013 with “Kick-Ass 2” director Jeff Wadlow attached to direct.

For now, Reynolds will reprise his role as the character in “Deadpool 2,” which will hit theaters on May 18. Morena Baccarin, T.J. Miller, Brianna Hildebrand, Beetz and Brolin also star.