Last week the auditor for the state of Georgia released a report calling into question the value of the state’s popular film and television production credit program.
The reason for this lavishly spending spree is in response to new streaming competition by the studios and the upcoming exodus of content.
Lionsgate is said to be in talks to split its film and television production business from its recently acquired premium-channel Starz into separate companies.
CBS and Viacom have reunited as one company after two failed attempts since 2016. The new company will be named ViacomCBS.
The timing of the anonymous leak that CBS was prepared to pay Lionsgate $5 billion for Starz, raises serious questions about possible market manipulation.
All told, Barclays, HSBC and Bank of Ireland could face a tax bill up to £11 billion for their role in EIS tax avoidance schemes.
There is a renewed effort by production service providers to expand their operations into financing and distributing independent films.
Walt Disney Co’s deal to buy film, television and international businesses from Murdoch’s Twenty-First Century Fox is valued around $40 per share, or $75B.
No longer will taxpayers and producers be able to use EIS structures that solely finance production tax credits, presales, and other guaranteed funds.
Netflix is shifting to a less-predictable and far less-profitable business model as they embark on becoming a content creator rather than aggregator.