FILM INDUSTRY – UNITED STATES

High-flyer takes on Hollywood

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Original article by Jessica Toonkel, Joe Flint
The Australian – Page: 17 : 10-Jul-24

Skydance Media founder David Ellison says he aims to transform Paramount Global into a "media and tech hybrid" to enable it to compete with rivals such as Disney and Netflix. The complex merger deal will initially see Skydance acquire Paramount’s major shareholder, National Amusements, for $US1.75bn; Paramount will in turn acquire Skydance for about $US4.7bn. Skydance has identified around $US2bn worth of cost savings at Paramount, and aims to make the iconic film studio cashflow positive by the end of 2026. Paramount’s assets include the Ten Network in Australia.

CORPORATES
SKYDANCE MEDIA LLC, PARAMOUNT GLOBAL, NATIONAL AMUSEMENTS INCORPORATED, TEN NETWORK HOLDINGS LIMITED

Hollywood writers in deal to end strike

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Original article by Geordie Gray
The Australian – Page: 8 : 26-Sep-23

The Writers Guild of America has advised that it has reached a deal to end Hollywood’s 146-day writer’s strike. The ‘tentative’ three-year deal follows five days of negotiations with film studios and production companies. However, the WGA has emphasised that the strike will continue until members vote on the deal and it is ratified. Amongst other things, WGA members will receive increased royalty payments for streaming content and guarantees regarding the use of artificial intelligence to generate content. Separate industrial action by Hollywood actors is continuing, and no talks between the actors’ union and film studios are currently scheduled.

CORPORATES
WRITERS GUILD OF AMERICA

Netflix, Disney, Warner Bros sue telcos to block popular piracy websites

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Original article by Matthew Elmas
The New Daily – Page: Online : 23-Nov-21

Major Hollywood studies including Disney and Netflix have launched legal action against ISPs such as Telstra and Optus, demanding that they block Australians from accessing 34 websites that are linked to illegal content. With Australia regarded as a global ‘hotspot’ for film piracy, Victoria University’s senior lecturer in screen media Marc C-Scott suggests that the legal action will attract a lot of interest around the world.

CORPORATES
WALT DISNEY COMPANY, NETFLIX INCORPORATED, TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, VICTORIA UNIVERSITY

Amazon to buy MGM for $US6.5 billion, excluding debt

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Original article by Joe Flint, Dave Sebastian
The Wall Street Journal – Page: Online : 27-May-21

Electronic commerce giant Amazon.com has struck a deal to acquire Hollywood film studio MGM. The deal will bolster Amazon’s subscription video-on-demand service as competition in the streaming market intensifies. MGM’s library of more than 4,000 films includes franchises such as James Bond, while the studio also produces television shows such as The Handmaid’s Tale. There is also scope for Amazon to create spin-offs from MGM’s popular franchises, a strategy used by rival streaming services. Amazon will pay $US6.5bn for MGM, or $US8.45bn including debt.

CORPORATES
AMAZON.COM INCORPORATED, AMAZON PRIME VIDEO, METRO-GOLDWYN-MAYER INCORPORATED

Pollak sceptical about Disney’s deal with Fox

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Original article by Natasha Gillezeau
The Australian Financial Review – Page: 18 : 18-Jan-19

Loftus Peak’s chief investment officer Alex Pollak has queried Disney’s decision to pay $US71.3bn ($97bn) for 21st Century Fox’s entertainment assets in 2018. He notes that both Disney and Fox largely generate their revenue streams from the sale of content to cable and pay-TV companies, but these sources of revenue are under increasing threat from video-on-demand services like Netflix. Pollak says Rupert Murdoch sold 21st Century Fox because he decided that it could not compete with companies like Netflix and Amazon.

CORPORATES
WALT DISNEY COMPANY, 21ST CENTURY FOX INCORPORATED, NETFLIX INCORPORATED, AMAZON.COM INCORPORATED, SEEK LIMITED – ASX SEK, CARSALES.COM LIMITED – ASX CAR, FAIRFAX MEDIA LIMITED, NEWS CORPORATION – ASX NWS, COMCAST CORPORATION, LOFTUS PEAK

Comcast surrenders to Disney in bid for 21st Century Fox

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Original article by Anousha Sakoui, Gerry Smith
The Australian Financial Review – Page: Online : 20-Jul-18

Comcast will press ahead with its takeover bid for pan-European broadcaster company Sky after withdrawing from the bidding war for the bulk of 21st Century Fox’s entertainment assets. Comcast’s cash offer of $US65bn for the Fox assets forced rival bidder Walt Disney Company to increase its offer to $US71bn. Disney’s bid has received clearance from antitrust regulators.

CORPORATES
21ST CENTURY FOX INCORPORATED, COMCAST CORPORATION, WALT DISNEY COMPANY, SKY PLC, AT&T CORPORATION, TIME WARNER INCORPORATED, UNITED STATES. DEPT OF JUSTICE, UNIVERSAL PICTURES, NBC TELEVISION NETWORK, MOODY’S INVESTORS SERVICE INCORPORATED

Disney’s Fox bid wins US approval

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Original article by Edmund Lee, Cecilia Kang
The Australian Financial Review – Page: 16 : 29-Jun-18

Walt Disney’s proposed $US71bn deal to acquire the bulk of 21st Century Fox’s entertainment assets has been cleared by the US Justice Department, only six months after it was initially proposed. However, the Justice Department has ruled that ESPN owner Disney must divest Fox’s regional sports to satisfy competition concerns. Jefferies media analyst John Janedis says the Fox board will probably be obliged to see if rival suitor Comcast makes a revised bid, but he notes that any such offer would take at least six months to receive approval from the DoJ.

CORPORATES
21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, UNITED STATES. DEPT OF JUSTICE, ESPN INCORPORATED, JEFFERIES AND COMPANY, HULU LLC, AT&T CORPORATION, TIME WARNER INCORPORATED, CNN, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, SKY PLC, STAR INDIA, MARVEL ENTERPRISES, LUCASFILM, PIXAR, FOX NEWS CHANNEL

Disney, Fox agree on $97bn merger

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Original article by Keach Hagey, Erich Schwartzel
The Australian – Page: 24 : 22-Jun-18

Walt Disney Company CEO Bob Iger has ruled out a deal with Comcast to carve up the entertainment assets of 21st Century Fox. Sources have indicated that Fox and Disney are finalising the terms of the latter’s $US71.3bn ($A96.8bn) cash and scrip deal, which has trumped Comcast’s $US65bn cash bid. Fox shareholders are expected to emerge with about 19 per cent of the enlarged Disney via the revised deal, compared with around 25 per cent under its previous scrip-only offer.

CORPORATES
21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, COMCAST CORPORATION, FOX NEWS, FOX BROADCASTING COMPANY, COWEN AND COMPANY, MOODY’S INVESTORS SERVICE INCORPORATED, S&P GLOBAL RATINGS, NETFLIX INCORPORATED, SKY PLC, STAR INDIA, HULU LLC

Fox agrees to Disney offer

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Original article by
The Australian – Page: 22 : 21-Jun-18

Rupert Murdoch’s 21st Century Fox has accepted Walt Disney Company’s revised offer of more than $US70bn for the bulk of its entertainment assets. Disney had originally proposed a scrip-only bid worth $US52.4bn, but it has agreed to allow Fox shareholders to accept a combination of cash and shares. The cash component will be attractive to major Fox shareholders such as the Murdochs, given the capital gains tax implications of a cash-only bid. Disney’s latest offer has trumped Comcast’s $US65bn cash bid.

CORPORATES
21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, COMCAST CORPORATION, SKY PLC, STAR INDIA, HULU LLC, FOX NEWS, FOX BROADCASTING COMPANY

$86bn bid for Fox ignites Disney fight

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Original article by Shalini Ramachandran, Erich Schwartzel
The Australian – Page: 25 : 15-Jun-18

US media group Comcast has offered $US35 per share for the bulk of 21st Century Fox’s entertainment assets, valuing its bid at about $US65bn ($A86bn). Fox has advised that it will "carefully review and consider" the cash bid, which has trumped Walt Disney Company’s scrip bid. The Disney offer is valued at $US29.18 per share based on Fox’s current share price. Fox would retain assets such as Fox News and its broadcast TV network if either bid succeeds.

CORPORATES
21ST CENTURY FOX INCORPORATED, COMCAST CORPORATION, WALT DISNEY COMPANY, FOX NEWS, FOX BROADCASTING COMPANY, AT&T CORPORATION, TIME WARNER INCORPORATED, HBO, CNN, WARNER BROS, BARCLAYS BANK PLC, NETFLIX INCORPORATED, HULU LLC, FACEBOOK INCORPORATED