The Miramax name and film library has been sold to a group of investors, which includes actor Rob Lowe, for an estimated $660 million. Lowe’s involvement comes by way of a media investment fund he started with Colony Capital investment firm head Tom Barrack. “The acquisition of a classic brand like Miramax is an exciting first step in my partnership with Tom Barrack and Colony Capital,” said Lowe. “This represents an exciting new chapter for me.” New films included in the sale include the Jennifer Aniston-Jason Bateman flick The Switch and the Guillermo del Toro-produced Don’t Be Afraid of the Dark.
Tag: Industry News (61-70 of 234)
Google has invested over $100 million in the social gaming site Zynga, anonymous sources told TechCrunch and Variety. Zynga, which created FarmVille, FrontierVille, MafiaWars, and other popular Facebook and social networking games, could become a cornerstone of Google Games, a yet-unofficial project. Neither company would comment on the possible investment.
Ed Limato, one of the most powerful and successful Hollywood agents of a generation, died today of natural causes at age 73 at his home in Beverly Hills, EW.com has confirmed. Limato, most recently a senior agent at William Morris Endeavor, helped guide the careers of such heavyweights as Denzel Washington, Richard Gere, Liam Neeson, Mel Gibson, Steve Martin, and Claire Danes. He also became known for throwing a huge A-list bash at his home during Academy Awards weekend. “I became friends with Ed because of his Oscar party,” Elton John, one of his closest friends, tells EW.com. “He hardly ever traveled outside of America, but he used to come every summer to stay with us in France. He was the gentleman agent and the last of a dying breed. He was such a wonderful man. I don’t think we’ll see the likes of him again.” Limato had been battling lung problems for the last several years.
According to Variety, the CEO and COO of Overture Films have stepped down. Danny McGurk and Chris Rosett resigned over “strategic differences” with parent company Starz Media; McGurk was also CEO of home video company Anchor Bay. Peter Adee, Starz president of worldwide marketing and distribution, will step in to oversee Overture.
David Duchovny is set to make his New York stage debut in Neil Labute’s new play The Break of Noon at the Lucille Lortel Theatre on October 28. According to the press release, the Californication star will play John Smith, “a man who, amidst the chaos and horror of the worst office shooting in American history, sees the face of God. … A newcomer to faith, John urgently searches for a modern response to the age-old question: at what cost salvation?” Labute’s (The Shape of Things) longtime collaborator Jo Bonney will direct.
Federal regulators have given the go ahead to the Cantor Exchange, one of two online futures markets that would allow the public to wager real money on box-office results of Hollywood films, according to the Associated Press. The Commodity Futures Trading Commission gave their approval to the exchange on Monday, two weeks after a second market, Media Derivatives’ Trend Exchange, also got the green light. But hold onto your credit cards and your box-office hunches for now. Both markets face an uphill battle later this week when legislation banning the trading on box-office tallies goes before congress as part of a broader financial regulation vote. As the markets have made their way through the regulatory process over the past few months, both the six major Hollywood studios and the MPAA have come out strongly against them. Stay tuned….
Variety is reporting that the producers of the Academy Award-winning The Hurt Locker have filed a copyright infringement suit against potentially 5,000 people who may have illegally downloaded the movie through P2P networks. The suit was filed in the U.S. District Court in Washington and is a first step in finding the names of the people who may have downloaded the film.