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Category: Hollywood

  • Relativity Media gets $100 million in new funding

    Relativity Media gets $100 million in new funding

    MUMBAI: It seems as if the financial woes of the Ryan Kavanaugh-led  Relativity Media LLC might just be over. The company has claimed to have successfully completed new financing commitments in excess of $100 million, in anticipation of its emergence from chapter 11 in February.

     

    The new financing includes more than $100 million in additional commitments from current investors including Macquarie Bank; Joseph Nicholas and Kavanaugh, Atorus Investment Management LLC chief investment officer Carey Metz and new investors such as TomorrowVentures and Carat Global as well as VII Peaks Capital.

     

    The new financing is separate from the approximately $180 million in Relativity senior debt acquired by Kavanaugh and Nicholas during the course of the company’s chapter 11 process, however it is anticipated that this debt will be converted pursuant to the plan of re-organisation.

     

    This financing is in addition to the post emergence ultimate facility, an asset backed facility being syndicated by GHL & Company and Aperture Media Partners.

     

    In addition, since Carat Global has agreed to extend credit to Relativity for its P&A capital, Relativity’s debt need is much less than expected.

     

    “With the total financing commitments now successfully in place, we remain focused on emerging from chapter 11 and moving forward with our robust slate of films and our continued evolution as a 360 degree content engine,” said Kavanaugh.

     

    Kavanaugh and Nicholas, will be co-managers of Relativity’s parent company, Relativity Holdings, with a robust management and finance team to oversee the 360 vertical from film and television to branding, sports, digital and Relativity Education.

     

    As was reported by Indiantelevision.com, earlier this month, Relativity acquired Kevin Spacey and Dana Brunetti’s entertainment production company Trigger Street Productions. At Relativity, Spacey will become chairman of RelativityStudios and Brunetti will become president of Relativity Studios where they will oversee all film and television operations.

  • Sony Pictures names Randy Lake as president – studio ops & Imageworks

    Sony Pictures names Randy Lake as president – studio ops & Imageworks

    MUMBAI: Sony Pictures Entertainment has appointed Randy Lake as president – studio operations & Imageworks.

     

    Lake oversees all operations, strategy and planning for Sony Pictures Imageworks, Post Production Services, Production Services, Global Mastering and Servicing, and Asset Management.

     

    He will continue to report jointly to Sony Pictures Television chairman Steve Mosko and Sony Pictures Motion Picture Group chairman Tom Rothman.

     

    Lake was previously executive vice president, studio operations and general manager – Imageworks.

     

    “Randy is a skilled executive with a keen sense of strategy and clear vision for the future of the studio. He has proven his value to the company in a variety of roles over the years and we are delighted to acknowledge his contribution with this promotion,” said Mosko

     

    Rothman added, “Randy has one of the sharpest minds in the business and we are thrilled to have him at the helm of our leaner, more efficient, and more effective studio operations and visual effects businesses.”

     

    Lake joined Sony Pictures in 2006 from Booz Allen, where he served as a strategy consultant to the entertainment, media, and technology industries. He began his career as a securities attorney with Brobeck, Pheleger, Harrison in San Francisco, advising emerging growth technology companies, underwriters and venture investors.

  • Sony Pictures names Randy Lake as president – studio ops & Imageworks

    Sony Pictures names Randy Lake as president – studio ops & Imageworks

    MUMBAI: Sony Pictures Entertainment has appointed Randy Lake as president – studio operations & Imageworks.

     

    Lake oversees all operations, strategy and planning for Sony Pictures Imageworks, Post Production Services, Production Services, Global Mastering and Servicing, and Asset Management.

     

    He will continue to report jointly to Sony Pictures Television chairman Steve Mosko and Sony Pictures Motion Picture Group chairman Tom Rothman.

     

    Lake was previously executive vice president, studio operations and general manager – Imageworks.

     

    “Randy is a skilled executive with a keen sense of strategy and clear vision for the future of the studio. He has proven his value to the company in a variety of roles over the years and we are delighted to acknowledge his contribution with this promotion,” said Mosko

     

    Rothman added, “Randy has one of the sharpest minds in the business and we are thrilled to have him at the helm of our leaner, more efficient, and more effective studio operations and visual effects businesses.”

     

    Lake joined Sony Pictures in 2006 from Booz Allen, where he served as a strategy consultant to the entertainment, media, and technology industries. He began his career as a securities attorney with Brobeck, Pheleger, Harrison in San Francisco, advising emerging growth technology companies, underwriters and venture investors.

  • Disney delays ‘Star Wars: Episode VIII’ release; replaces it with ‘Pirates’

    Disney delays ‘Star Wars: Episode VIII’ release; replaces it with ‘Pirates’

    MUMBAI: Walt Disney Studios has postponed the release of Star Wars: Episode VIII from 26 May, 2017 to 15 December of the same year.

     

    With Star Wars: Episode VIII jumping to December, Disney’s Pirates of the Caribbean: Dead Men Tell No Tales will set sail on 26 May, 2017, from its previously scheduled 7 July, 2017, berth.

     

    The move follows the success of Star Wars: The Force Awakens, which was the first Star Wars movie to premiere in December. In the popular holiday moviegoing corridor, it smashed numerous records, including biggest domestic and global debuts of all time as well as the biggest domestic second and third weekends, en route to becoming the highest grossing domestic release of all time with over $861 million and the third biggest global release ever with $1.887 billion.

     

    Written and directed by Rian Johnson, Star Wars: Episode VIII is currently in pre-production and will begin principal photography in London next month. Kathleen Kennedy and Ram Bergman will produce and J.J. Abrams, Tom Karnowski, and Jason McGatlinwill executive produce.

     

    In Pirates of the Caribbean: Dead Men Tell No Tales, Johnny Depp returns as Captain Jack Sparrow with Geoffrey Rush back on board as Barbossa, Orlando Bloom resurfacing as Will Turner, and a terrifying new adversary, Captain Salazar, played by Javier Bardem, in the mix. Produced by Jerry Bruckheimer and directed by Joachim R?nning and Espen Sandberg, the film is currently in post-production.

  • Disney delays ‘Star Wars: Episode VIII’ release; replaces it with ‘Pirates’

    Disney delays ‘Star Wars: Episode VIII’ release; replaces it with ‘Pirates’

    MUMBAI: Walt Disney Studios has postponed the release of Star Wars: Episode VIII from 26 May, 2017 to 15 December of the same year.

     

    With Star Wars: Episode VIII jumping to December, Disney’s Pirates of the Caribbean: Dead Men Tell No Tales will set sail on 26 May, 2017, from its previously scheduled 7 July, 2017, berth.

     

    The move follows the success of Star Wars: The Force Awakens, which was the first Star Wars movie to premiere in December. In the popular holiday moviegoing corridor, it smashed numerous records, including biggest domestic and global debuts of all time as well as the biggest domestic second and third weekends, en route to becoming the highest grossing domestic release of all time with over $861 million and the third biggest global release ever with $1.887 billion.

     

    Written and directed by Rian Johnson, Star Wars: Episode VIII is currently in pre-production and will begin principal photography in London next month. Kathleen Kennedy and Ram Bergman will produce and J.J. Abrams, Tom Karnowski, and Jason McGatlinwill executive produce.

     

    In Pirates of the Caribbean: Dead Men Tell No Tales, Johnny Depp returns as Captain Jack Sparrow with Geoffrey Rush back on board as Barbossa, Orlando Bloom resurfacing as Will Turner, and a terrifying new adversary, Captain Salazar, played by Javier Bardem, in the mix. Produced by Jerry Bruckheimer and directed by Joachim R?nning and Espen Sandberg, the film is currently in post-production.

  • Cinepolis creates video to correlate the love between movies and popcorns

    Cinepolis creates video to correlate the love between movies and popcorns

    MUMBAI: On the occasion of National Popcorn Day on 19 January 2016, India’s first International cinema chain and the world’s fourth largest exhibitor, Cinépolis releases a heart-warming video celebrating the intrinsic link between movie-going and this universally loved snack. The video illustrates how watching a film in a theatre is absolutely incomplete without digging into a bag of delicious popcorn.

    Conceptualized by Cinépolis Global Team, the film light-heartedly turns the spotlight on several people who walk into the cinema resisting the urge to buy the snack. These very movie-goers end up indulging whole-heartedly in their companion’s bag of popcorn when they are immersed in their films. The video sums up this trend by saying, 60% people buy popcorn at Cinépolis. 100% eat!

    A tribute to the light, fluffy, flavoured favourite of cine-lovers, the video is backed by a study of popcorn consumption patterns in India which suggests that the money spent on this snack has almost doubled between 2012 and 2015 and currently stands at Rs 2,034 crore. The most loved flavours in the country are butter salted, caramel and cheese. The combination of a cold beverage and popcorn stands out as the most preferred snack inside cinema halls which comes as no surprise. After all, the identities of popcorn and movie watching are inherently tied together and Cinépolis has been fuelling this relationship with the superlative popcorn it serves at its cinema screens across the globe!

  • Relativity Media acquires Trigger Street; Kevin Spacey & Dana Brunetti to run studio

    Relativity Media acquires Trigger Street; Kevin Spacey & Dana Brunetti to run studio

    MUMBAI: In what can be called a shocker of a development, Ryan Kavanaugh’s Relativity Media, which filed for Chapter 11 bankruptcy last year, has now acquired Kevin Spacey and Dana Brunetti’s entertainment production company Trigger Street Productions.

     

    Effective mid-February, Spacey will become chairman of Relativity Studios, whereas Brunetti will become the company’s president. Together, they will oversee all creative content and film production for the company. Financial terms of the transaction were not disclosed.

     

    “I am thrilled to welcome Kevin and Dana to Relativity. Kevin’s incredible creative success as a two-time Academy Award winner and star and producer of the critically acclaimed House of Cards speaks for itself. Dana has remarkable instincts and an impressive track record of producing films such asFifty Shades of Grey and Captain Phillips. Both men share my passion for film and Relativity’s unique 360 degree content engine, and I could not be more excited to partner with such talented professionals,” said Relativity chairman and CEO Ryan Kavanaugh.

     

    “They thought we were crazy when we chose to do House of Cards with an online streaming service; they thought I was crazy when I went to run The Old Vic Theatre when no one thought it could be saved; and this move with Relativity will be proof for some that we really are crazy,” said Spacey. “This is an incredible opportunity to make great entertainment. I’m thrilled at this next evolution in my career, having run an independent production company to now be able to run a studio is a great challenge, and I’ve learned that in the end it’s the risk takers that are rewarded.”

     

    “While other studios are focusing on tentpoles and franchises, there is a void with an eager audience for films that are character driven with great storytelling that can be made at a reasonable budget,” added Brunetti. “Being a disruptor at heart, I look forward to the opportunities that being inside a studio system will present.”

     

    Trigger Street Productions’ credits include Academy Award-nominated Captain Phillips, Academy Award-nominated and Golden Globe-winning The Social Network, and the Emmy nominated House of Cards, Bernard and Doris and Recount, as well as numerous other films including 21, Shrink,Fanboys and the stage production The Iceman Cometh.

  • ‘Star Wars: The Force Awakens’ pips ‘Avatar’ to become highest grossing film in N. America

    ‘Star Wars: The Force Awakens’ pips ‘Avatar’ to become highest grossing film in N. America

    MUMBAI: With early box office results in mid-wee, Star Wars: The Force Awakens became the highest grossing film of all time in the North American market, surpassing the $760.5 million lifetime gross ofAvatar in a record-shattering 20 days of release. In addition, the film crossed the $800 million mark at the international box office on 6 January.

     

    Through 5 January, the film had grossed $758.2 million in North America and $799.1 million for a global total of $1,557.3 million since its 16 December global debut.

     

    Star Wars: The Force Awakens debuted in the US and Canada on 18 December, its first two weeks pushing the North American annual industry box office to an all-time high of $11 billion. 

     

    The movie has set numerous individual records including:

     

    · Fastest film to reach $100 million (21 hours), $200 million (3 days), $300 million (5 days), $400 million (8 days), $500 million (10 days), $600 million (12 days), and $700 million (16 days)

     

    · Biggest all-time debut and biggest December debut ($247.966 million), propelling the industry to the biggest overall moviegoing weekend of all time ($313.3 million for all films, 18 – 20 December)

     

    · Biggest second weekend of all time ($149.2 million), propelling the industry to the biggest overall Christmas weekend of all time ($296.4 million for all films, 25 – 27 December)

     

    · Biggest third weekend of all time ($90.2 million)

     

    · Biggest Thursday preview gross ($57 million)

     

    · Biggest Friday, opening, and single day ($119.1 million)

     

    · Biggest Sunday ($60.55 million), Monday ($40.1 million), and Tuesday ($37.3 million)

     

    · Biggest Christmas Day ($49.3 million) and New Year’s Day ($34.39 million)

     

    · Highest per-theater average for a wide debut ($59,982)

     

    · Biggest opening week ($390.85 million)

     

    · Biggest IMAX debut ($30.1 million)

     

    Globally, the film posted the highest global opening weekend of all time of $528.967 million and surpassed $1 billion in a record 12 days. It also had the biggest global IMAX debut ($48 million) and surpassed $152 million in IMAX in a record 19 days. It was the highest international debut in December history with $281 million, and it remains #1 in many territories after posting the biggest opening weekend in at least 18 major markets.

     

    Star Wars: The Force Awakens now heads into its fourth weekend of global release ahead of a debut in its final international market, China, on 9 January.

  • Justin Timberlake to write original music for DreamWorks’ ‘Trolls’

    Justin Timberlake to write original music for DreamWorks’ ‘Trolls’

    MUMBAI: Nine-time Grammy and four-time Emmy Award winning musician and actor Justin Timberlake will serve as executive music producer as well as pen original music for DreamWorks Animation’s Trolls. In this role, Timberlake will oversee all creative direction for the film’s music as well as perform multiple songs on the soundtrack. The multifaceted artist also stars as Branch, a hilariously hardcore survivalist who hides his surprising true colors, in DreamWorks Animation’s upcoming comedy.

     

    Joined by Academy and Tony Award nominee Anna Kendrick as Princess Poppy, the two embark on a hair-raising adventure as the globally iconic Trolls make their motion picture debut. The film will be distributed on 4 November, 2016, by 20th Century Fox.

     

    “Justin is an amazingly versatile artist and producer whose unprecedented creative talents provide a unique voice and sound for our movie.Trolls is a comedy with fantastic music at its core and we can’t think of a more perfect artist to elevate this soundtrack to incredible heights,” said DreamWorks Animation co-presidents of feature animation Bonnie Arnold and Mireille Soria.

     

    “Working with Justin has been a dream come true from day one,” added director Mike Mitchell.

     

    “Between the fantastic work he’s doing in bringing to life the character of Branch and his production oversight on the soundtrack, we couldn’t be in more inspired hands,” said co-director Walt Dohrn.

     

    “I have always envisioned bringing the two worlds of film and music together for one epic event.  I couldn’t be more excited that they will collide in DreamWorks Animation’s Trolls. This film is very special, the music is going to be very special and I can’t wait for everyone to experience it all,” said Timberlake.

     

    Produced by Gina Shay, the film for the first time tells the story behind the beloved Trolls and their gravity defying and colourful manes.

  • Worldwide 2015 box office sets new record with $38+ billion

    Worldwide 2015 box office sets new record with $38+ billion

    MUMBAI: The global box office crossed the $38 billion benchmark, making 2015 the highest-earning year at the global box office in movie history according to Rentrak.

    An incredibly strong line-up of movies inspired audiences worldwide to flock to cinemas in 2015 and with Rentrak data culled from more than 125,000 screens in more than 25,000 theaters across the globe, the industry posted its biggest overall revenue in worldwide box office history, with a total of $38 billion-plus projected for the year. 

    “The importance of the international marketplace to the overall success of the motion picture studios, the exhibition business and the movies themselves cannot be overstated, with key territories across the globe plus North America providing the collective horsepower to push us near the $40 billion mark for the first time ever. Following hot on the heels of a record-breaking first-time ever $11 billion-plus year at the box office in North America, this global record proves that going to the movies is a beloved pastime that is enjoyed throughout the world, with moviegoers from a wide array of backgrounds and cultures all coming together for the shared in-theater experience,” said Rentrak senior media analyst Paul Dergarabedian.

    A vast lineup of films in 2015 including this summer’s mega-hit Jurassic World, the action-packed Furious 7, the superhero-filled Avengers: Age of Ultron, the family-friendly Minions and of course the record breaking Star Wars: The Force Awakens, helped to fuel this incredible year’s record performance. Notably, global hits came from virtually every studio and included the latest James Bond installment Spectre, the action-packed Mission: Impossible Rogue Nation, the final film in The Hunger Games franchise,Mockingjay, Part 2, Ridley Scott’s hit science fiction drama The Martian and Dwayne Johnson in San Andreas among many others.

    Below is a list of the top five highest-earning films at the Global box office in 2015: