Amazon completed its $8.5 billion acquisition of MGM late last week. The companies finalized the deal immediately upon expiration of the Federal Trade Commission’s mid-March deadline to object, though the agency let it be known that it can challenge a deal any time it finds cause. Amazon in May announced intent to acquire MGM, which has a library of more than 4,000 films and some 17,000 TV episodes as well as ongoing production in both areas. In August, a group of four labor unions collectively urged the FTC to quash Amazon’s bid. Continue reading Amazon Closes $8.5B Deal for MGM, FTC Watches in Wings

Amazon announced this morning that it will purchase MGM Studios for $8.45 billion, signaling the tech giant’s serious intent to expand its entertainment ambitions by beefing up its Prime Video content library to better compete with Netflix, Hulu and the growing collection of streaming video services. The deal marks the second largest acquisition for Amazon; the company paid $13.7 billion for Whole Foods in 2017. Amazon plans to leverage MGM’s significant catalog of 4,000 movies and 17,000 television shows to help strengthen its film and TV unit Amazon Studios. Continue reading Amazon to Acquire MGM in Deal Valued at Nearly $8.5 Billion

AMC Entertainment, the world’s largest movie theater chain, will run out of cash by the end of 2020 if current conditions do not change. Although it’s reopened 83 percent of its U.S. theaters, attendance is down 85 percent from a year ago. In September, AMC set a goal of raising $180 million but so far has raised only about $37.8 million by selling shares. Other fundraising options include taking on debt or selling assets. AMC sold its nine theaters in Europe’s Baltic region of Europe for about $77 million. Continue reading AMC Is Running Out of Cash, Sells Some Shares and Assets

A day after the opening of James Bond film “No Time to Die” was pushed to April 2, 2021, Cineworld stated it was considering closing 536 Regal Cinema theaters across the United States and 127 Cineworld and Picturehouse Cinemas locations in the United Kingdom. Now, Cineworld has confirmed the temporary suspension of its U.S. and UK operations starting Thursday, October 8, blaming the lack of new films in the pipeline. Cineworld is the UK’s biggest cinema operator and the second largest chain in the U.S. The closure will impact about 45,000 employees. Continue reading Cineworld Temporarily Suspends Operation of Regal Cinemas

On Friday, Solstice Studios’ “Unhinged,” a $33 million psychological thriller starring Russell Crowe, enjoyed a wide release in 1,823 locations across the country. Because most theaters are operating at 50 percent capacity due to the coronavirus pandemic, opening weekend box office was modest — $4 million — but considered a success given the unique circumstances. Solstice Studios chief executive Mark Gill predicted that “Unhinged” will earn “at least $30 million” in North America. The movie has already generated $8 million internationally. Continue reading ‘Unhinged’ Earns $4 Million Box Office on Opening Weekend

According to Rockstar Games, its “Red Dead Redemption 2” earned more than $725 million in global retail sales in its first three days on the market, breaking several records. The company deemed it “the biggest opening weekend in the history of entertainment,” surpassing the $640 million raked in by “Avengers: Infinity War,” which earned more than $640 million in its opening weekend. But “Red Dead Redemption 2” doesn’t top Rockstar Games’ own “Grand Theft Auto V,” which pulled in more than $1 billion in its first three days. Continue reading Rockstar’s ‘Red Dead Redemption 2’ Breaks Sales Records

On Black Friday, Snapchat introduced Promoted Stories, a new advertising format that allows marketers to get their messages to more users. The company’s existing Story feature is a stitched-together collection of photos and videos that disappears 24 hours after it is shared. Any Snapchat user (including a business or brand) can create a Story, but it will only be visible to that user’s followers. Promoted Stories, however, which will appear on the Stories page in the Snapchat app, will be pushed out around the country. Continue reading Snapchat Intros Wide-Reach Promoted Stories for Advertisers

Thus far, Amazon has followed a traditional distribution model, releasing its movies via indie distributors Roadside Attractions, Bleecker Street and Lionsgate. But in December, Amazon will itself distribute and handle the theatrical campaign for Woody Allen’s “Wonder Wheel,” the first of many scheduled films. Other upcoming movies Amazon plans to self-distribute include Gus Van Sant’s “Don’t Worry, He Won’t Get Far on Foot,” Luca Guadagnino’s remake of “Suspiria,” and Lynne Ramsay’s “You Were Never Really Here.” Continue reading Amazon to Handle Distribution, Marketing of Movie Releases

Launched less than four years ago, Google Play has become much more than the official Android app store, establishing itself as a top retailer in home entertainment. Users treat it like a digital media store, where they can buy movies or TV shows digitally — often sooner than they can on Netflix or other streaming services. Google is now selling movies in 117 countries. Next, Play Movies & TV will be offering 4K for over 125 movies in its collection, for sale via Web or mobile. Continue reading Google Play Sells Movies in 117 Countries, Launches 4K Titles

Hulu has joined Netflix and Amazon in offering select titles in 4K. Subscribers with a Microsoft Xbox One S or Sony PlayStation 4 Pro console (and a minimum connection speed of 13 megabits per second) can now enjoy James Bond films and original Hulu series in the Ultra HD format. Netflix and Amazon also offer select high dynamic range content. Meanwhile, YouTube — which first introduced 4K support to its video-sharing site in 2010 — is now bringing the same capability to live streaming of 4K and 360 videos. The feature should help the site compete with Facebook and Twitter in the live streaming space. Continue reading Hulu Launches Ultra HD, YouTube Supports 4K Live Streaming

At GDC 2016 this week, Oculus demonstrated its retail headset with 41 games, 30 of which will launch with the Rift. The headset already has a pre-order list backed up to July, four months past its initial March 28 release. Over four generations, Rift has improved, says one journalist, although the “screen door effect” still exists in games that are heavy in fine details such as “Project CARS” and less so in games with fewer details and more abstraction. The Rift’s head tracking and overall latency was also deemed “spot on.” Continue reading GDC 2016: Oculus Plans to Debut 30 Games with Rift Headset

Snapchat launched a temporary Discover channel yesterday featuring advertiser-created content. Sony Pictures Entertainment paid for a “sponsored” Discover channel to promote its new James Bond film “Spectre,” which opened on Monday in the U.K. The Discover section currently includes 15 media partners, but the 007 channel (which is sharing multimedia content for the film such as behind-the-scenes footage, cast member testimonials and Bond trivia questions) represents the first time a brand has paid to be featured this way on Snapchat Discover. Continue reading Snapchat Tests Sponsored Discover Channel with James Bond

We are used to very sophisticated search for text, but when it comes to online video, search tools are quite primitive. Netflix allows users to search by titles, people and genres; Hulu powers search for titles and people; and HBO Now restricts search to titles. The potential for exquisitely granular search — and potential new revenue streams — can be found in each TV show or movie’s rich metadata. But how to unlock it, and how to structure search is still open to question and experimentation. Continue reading There is Untapped Potential in Enhanced Online Video Search

IMAX debuted its new IMAX with Laser digital projection system in London; Dubai; Los Angeles; Seattle; Reading, Massachusetts; and Chantilly, Virginia. The new projection system, which offers 4K resolution, Rec. 2020 color space and up to 60 fps, made use of 120 patents the company exclusively licensed from Kodak. IMAX says the contrast ratio is double that of IMAX 15/70mm film and higher than the 2500:1 contrast ratio of its Xenon lamp systems. The first movie to debut on the system is “The Walk” in 3D. Continue reading IMAX with Laser Debuts with “The Walk” to Positive Reviews

Reliance MediaWorks has begun the restoration process on a thousand films — many of which are cult or world cinema classics — to create high definition versions for availability on Blu-ray. From its Burbank facility, RMW is up-converting most titles from standard definition, not remastering from original negatives. However, the company expects quality results for restored video and audio that will help return the films to their former glory and hopefully introduce them to a new audience. Continue reading RMW Restoring 1,000 Cult and Classic Films for Home Video