A half-an-hour before the U.S stock market closed on Friday, a story appeared on the The Wrap, that CBS and Viacom were in talks to merge.
In 2017, North American theatrical admissions fell to 1992 levels. Admissions in the U.S and Canada dropped 6% to 1.23 billion tickets sold.
A false narrative is being advanced by news outlets that the reason for multiple failed deals is China’s clampdown on foreign investment.
Sony Pictures’ co-financing partner, LStar Capital, informed the studio at the last minute that they would no longer invest in Sony’s slate.
If reports from China are to be believed (clearly they cannot), a company with $19 million in revenue was going to finance $1 billion of Paramount’s slate.
By Cannes Film Festival 2018, unless some unforeseen events occur, it will no longer be possible to license films to specific territories.
Since launching in 2010, iQiyi has accumulated the most paid SVOD subscribers in China, however, calculating an accurate subscriber base is challenging.
Paramount will not receive the $1 billion in slate funding from China’s Shanghai Film Group, and Hua Hua Media. A source said, the “Paramount deal is dead.”
In an unsurprising decision that many industry followers have expected, Paramount Pictures’ CEO Brad Grey is leaving the studio after 12 years.
The media industry’s increasing dependence on Chinese capital sets up a crisis once the chickens of China’s property market come home to roost.