Hollywood is struggling. So why does anyone want to buy a movie studio now?
The theatrical box office market is down. It’s harder than ever to get people out of their homes and into the cinema. The business model for movies in streaming is still a work in progress.
Many people, it turns out. Earlier this month, the entertainment industry was abuzz after reports that film and TV production company Legendary Entertainment, the company behind “Dune” and “A Minecraft Movie,” was considering a potential acquisition of “Hunger Games” and “John Wick” producer and distributor Lionsgate Studios. Both companies have declined to comment on the reports.
In June, independent film finance and production firm Alcon Media Group — known for “The Blind Side” and “Blade Runner 2049” — bought the film library of “Joker” and “Ocean’s Eleven” producer and financier Village Roadshow Entertainment for $417.5 million after an auction process that was part of the West Hollywood company’s Chapter 11 bankruptcy proceedings. Village Roadshow did not respond to a request for comment. Alcon could not be reached for comment.
Skydance separately promised to appoint a CBS News ombudsman to ‘promote transparency and increased accountability’ at CBS News. Skydance CEO David Ellison also has met with center-right journalist Bari Weiss.
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