After the abysmal start to Apple’s new streaming service, Apple TV+, the tech company is searching for relevance with a new leader and a possible strategic acquisition.
Starting in 2020, films released by Lionsgate will be distributed on the Hulu streaming service, and FX, the basic-cable channel now owned by Disney after the takeover of Fox.
After a decade of digital partnerships, studios and distributors are moving towards a wholly-owned strategy.
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.”