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12 articles


Major Layoffs Aren't Expected After Yahoo-Verizon Deal (Yet), Analysts Say

5 hours ago

More major layoffs at Yahoo as a result of its merger with Verizon aren't expected, at least not this year. Wall Street analysts think the $4.8 billion buyout was more about creating the third-largest digital advertising platform, after Facebook and Google, than about finding places to cut costs within Yahoo and Verizon's extensive portfolio of brands. "The outlook is uncertain, but [Yahoo CEO] Marissa [Mayer] won't touch anyone for six to nine months," analyst Laura Martin of Needham & Company told The Hollywood Reporter. "This deal is more about the revenue side than the cost side."

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- Tobias Burns

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China's Alibaba Pictures Launches $300M Investment Fund

9 hours ago

Alibaba Pictures Group has unveiled a new $300 million investment fund targeting the entertainment industry. Alibaba Pictures, the film studio unit of Jack Ma's e-commerce giant Alibaba Group, is partnering with Wuhu Gopher Asset Management on the fund, which will be called the Hainan Alibaba Pictures Entertainment Industry Investment Fund. In a statement released Monday, the two partners said they would make "investments in companies along the value chain of the movie and television entertainment industry, creating synergies with Alibaba Pictures’ own capital." Alibaba Pictures will contribute a maximum of $75 million to the fund, with the remaining $225 million

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- Patrick Brzeski

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Michael Wolff: Roger Ailes' Next Moves May Determine the Future of Fox News

10 hours ago

What would you do if you were Roger Ailes? Much of your life has been built on a relentless willingness to go on the attack. It’s a life that has, to great gain, been cleanly divided between friends and enemies, those with you and those against. This has made Ailes personally fearsome and professionally without peer, conflict being the greatest asset to cable television news. And now, likely compounding his inclination to go into battle, instead of, at 76, being a lion in winter looking toward a proud retirement, he’s a wounded beast. I once asked Rupert Murdoch if he

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- Michael Wolff

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Netflix Picks Up Global Streaming Rights to FX's 'American Crime Story'

10 hours ago

Netflix is hoping American crimes have worldwide appeal. The streaming service on Monday announced its first global pact with 20th Century Fox TV Distribution, which will make it the exclusive global streaming home for FX’s anthology American Crime Story. The first season, The People v. O.J. Simpson, will be available globally on Netflix (save for Canada) in 2017. All future seasons will become available to streaming viewers after their broadcast window on FX. The news comes several months after American Crime Story, a co-production between FX Productions and Fox 21 TV Studios, wrapped its critically praised first season,

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- Lacey Rose

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Redbox Parent Company Sold to Private Equity Firm for $1.6B

10 hours ago

Redbox parent Outerwall has been sold to funds associated with Apollo Global Management for $52.00 a-share, or around $1.6 billion, including debt. The move follows Outerwall, the DVD kiosk rental company, in March hiring Morgan Stanley as its financial adviser to explore a sale or other initiatives after movie rentals fell short of expectations as consumers increasingly opt for Blu-ray rentals. Shares in Outerwall jumped Monday morning by $5.24, or 11 percent, to $52.15 on news of the deal. "Outerwall's board of directors has undertaken a comprehensive review of a wide range of strategic

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- Etan Vlessing

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Galloway on Film: How Shakespeare Taught Me the Movie Business Is Dying

10 hours ago

In the late 16th century, a leather worker’s son named William Shakespeare sat at his wooden table, pulled out his paper and quill, and embarked on one of the few plays he ever wrote that was not significantly ripped off from other material — a “reimagining,” as we’d say in Hollywood today. Its title was The Tragedy of Hamlet, Prince of Denmark. Among the play’s singular contributions were a host of words and expressions that nobody had ever heard of, or at least put onstage before then. Besmirched. Barefaced. Buzzer. Rant. Pander. None of them would be familiar to us

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- Stephen Galloway

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Yahoo CEO Marissa Mayer: "I'm Planning to Stay"

10 hours ago

The sale of Yahoo's core assets to telecom Verizon for $4.83 billion is "an exceptional outcome" for shareholders, Yahoo CEO Marissa Mayer said Monday on a conference call. The comments came after she published an internal memo on Tumblr, in which she said: "I’m planning to stay. I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter." She didn't detail how long she would stay at the company. On the call, Mayer said she and the other management team members would focus on making sure there was

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- Georg Szalai

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Comic-Con: Winners and Losers From the TV and Film Panels

11 hours ago

After four dizzying days of film and TV news, San Diego Comic-Con 2016 is officially in the books. As cosplayers put their Stormtrooper and Harley Quinn costumes back into storage, fanboys everywhere begin to dissect the scores of new footage released over the four-day geekfest. THR's ace film and TV teams were on the ground in San Diego and covered all the biggest panels. Who were the winners and losers? Who picked A&E's Bates Motel to have the biggest casting bombshell of the Con? And who expected Game of Thrones to underwhelm? How did comic book powerhouses DC and Marvel fare? Below, THR makes sense of the overwhelming amount of news

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- Lesley Goldberg, Borys Kit, Aaron Couch

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Hollywood M&A Value Hits Multiyear High in First Half

11 hours ago

Lionsgate-Starz, NBCUniversal-DreamWorks Animation and Wanda-Legendary — those are just some of the marriages struck this year as Hollywood has gone into deal mode. In fact, the value of U.S. entertainment industry mergers and acquisitions during the first half of the year hit a multiyear high. Total announced entertainment deal value reached $18.8 billion in the first six months of 2016, up 306.5 percent from $4.6 billion in the first half of 2015 and $8.1 billion in the first half of 2014. It is the highest mark recorded since the first half of

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- Georg Szalai

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AMC Theatres to Acquire Carmike in Sweetened $1.2 Billion Deal

12 hours ago

Carmike Cinemas said Monday that it has entered into an amended and restated agreement to be acquired by AMC Theatres for $1.2 billion in cash and stock and including debt. The companies had previously agreed to a $1.1 billion deal, or $30 per share, that drew opposition from some shareholders. The new deal is worth $33.06 per share, or 10.2 percent more. AMC president and CEO Adam Aron in an analyst call on Monday pitched his company's "best and final" offer to Carmike shareholders. "This is it. We're done. There's no more water in this well,

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- Georg Szalai

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Two People Dead, At Least 17 Injured in Florida Nightclub Shooting

14 hours ago

Gunfire erupted at a nightclub hosting a swimsuit-themed party for teens in Florida, leaving two teens dead and at least 17 other people wounded, officials said Monday. It was not immediately clear what triggered the violence, but Fort Myers police Capt. Jim Mulligan said the shooting was not an act of terror. Police detained three people and said the area around Club Blu had been deemed safe, Mulligan said. The slain teens were 14-year-old Sean Archilles and 18-year-old Stef'an Strawder, police said. Archilles lived about a mile from the nightclub, said his father, Jean Archilles.

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- the Associated Press

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California Sand Fire Destroys Popular Movie, TV Filming Location; Tippi Hedren's Animal Preserve Evacuated

18 hours ago

The Los Angeles County Fire Department says about 10,000 homes have been evacuated as crews protect mountain and canyon communities from a ferocious wildfire that's destroyed 18 houses and a popular filming location. Officials said late Sunday that the so-called Sand Fire had burned through at least 51 square miles of brush north of Los Angeles — but that number was expected to jump Monday when better assessment was done at daylight. It's just 10 percent contained. Helicopters made water drops through the night. The Fire Department's incident web page says about 20,000 residents have been ordered

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- the Associated Press, THR Staff

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