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The summer movie season kicks off with Walt Disney’s Pirates of the Caribbean: At World’s End. Disney’s third installment of Pirates comes after box office records were recently set by the Shrek and Spider-Man sequels. David Brain, CEO of Entertainment Properties Trust, joined CNBC’s Erin Burnett on “Squawk on the Street” to explain how he’s profiting from the big screen.
The Cannes Film Festival is about halfway through, and it's not just about starlets and red carpets -- real business gets done. Cannes is where American filmmakers go to meet with buyers from "foreign properties" to sell their international distribution rights. Often, independent filmmakers will sell foreign rights before the film is made, to finance production -- selling on the strength of the stars and the concept.
How goes the battle against Chinese intellectual piracy? John Taylor, Hoover Institute fellow and former Treasury department undersecretary, joined James Bacchus, chairman of the global trade practice group at Greenberg Traurig, to reassure "Power Lunch" viewers that "we're making progress as we speak."
The Writers Guild of America warned the movie studios and TV networks that they're going to persist with demands for a bigger cut of new-media revenues.The WGA put out its 25-item "pattern of demands," which emphasize that writers must be compensated appropriately when their work is played on digital platforms like the internet or cell phones. That includes work created specifically for those new platforms, or content created for traditional media and repurposed for the new media world.
"Shrek the Third" took in $122 million in its first weekend, breaking the franchise's own record for best debut ever for an animated film, according to studio estimates Sunday. The latest adventure of the ogre shot past 2004's "Shrek 2," the previous record-holder for animated openings with $108 million.
Spider-Man kept up his box office heroics for a second weekend, as the worldwide total for the third film in the superhero trilogy hit $622 million, the film's distributor said on Sunday.
The founder and former CEO of ImClone Systems, Sam Waksal, who is now sitting in prison for his role in the trading scandal that ensnared Martha Stewart, had a reputation for rubbing elbows with the New York glitterati and the Hollywood set. Well, it looks like ImClone is reliving its past.
Disney reports that it continues to support the struggling Hong Kong Disneyland. Well, now we may know one reason why it's struggling. Just as every Disney movie going back to "Steamboat Willie" probably has been pirated in China, China now has a state-owned amusement park that recently included a mouse character, a woman with black hair surrounded by seven... elves... and pirate music. Not pirated music (well, maybe it was), but pirate music.
Summit Entertainment, a new studio launched two weeks ago with $1 billion in financing led by Merrill Lynch, just unveiled its slate of new development projects -- nine that will go into production this year -- with two films going into production this summer. The plan is to release ten to 12 films a year through its domestic pipeline, and they're not wasting any time.
Will Murdoch convince the Bancroft Family to sell Dow Jones? Will he sweeten his already oh-so-sweet $5 billion offer for the Wall Street Journal's parent?There's no better place to find the future than in the past -- in News Corp's case, fiscal third-quarter earnings. Net income increased 6.2%, led by the movie division whose revenues grew a whopping 82% to $410 million, a record for the quarter.
We have an earnings video news report by CNBC/Wall Street Journal Editor Bob O'Brien. Bob looked at three companies--Disney, CVS Caremark and Molson-Coors. Disney reports after the bell today and CVS has already reported. Molson has yet to.
Fox tells us it's developing a sequel to "Wall Street," and published reports say Michael Douglas will reprise his role as the villainous Gordon Gekko. The first movie didn't do that well at the box office back in 1987 ($48 million worldwide), but the REAL Wall Street loved it. Traders still quote dialogue: "If you need a friend, get a dog."
David Bank, managing director at RBC Capital Markets, told CNBC’s “Squawk Box” that the real money from “Spiderman 3” will be made in DVD sales and toys.
There's way too much to talk about today, but I'm leading it off with the Jim Stewart 400 because I think the folks at Diageo have been shortchanged because of the fight and the Derby -- and maybe even the Mavericks getting schooled.If you haven't heard about it, the NASCAR Nextel Cup race this weekend is actually named after a fan. The folks at Diageo, who bought the race for their Crown Royal brand, had an essay contest in which 15,000 fans wrote in their favorite life moment worthy of toasting with the drink.
"Spider-Man 3" is breaking records, and it hasn't even opened in the U.S. yet; it premiered in Tokyo in April, and opened in 16 Asian and European countries on Tuesday, bringing in $29 million dollars on its first day alone.Throughout Asia, the film opened bigger than the first and second films in the series; in some countries, it out-grossed the combined opening day of Spidey 1 and 2. And in some countries, the movie broke records for the biggest single-grossing day ever.
Movie theater operator AMC Entertainment, subsidiary of Marquee Holdings, announced on Thursday that it is suspending its initial public offering due to adverse market conditions.
Time for today's trivia questions. Here they are. The video question is worth $2,000 Bonus Bucks: The Royal Bank of Australia has decided to keep interest rates on hold at what percent? Your selection of answers is: 6.0% or 6.25% or 5.25% or 5.75%. And the news question is worth $1,000 Bonus Bucks: Blockbuster sold its UK video game retailer, Game Station, for how much? Your selection of answers is: $250 million or $150 million or $200 million or $100 million.
"Spider-Man 3" smashed box office records across eight Asian markets Tuesday, as the superhero sequel got a head start on the rest of the world, the film's distributor said.
The Tribeca Film Festival has arrived and is now a destination of the rich and famous.
Washington is scrutinizing the "blackout rule" that restricts broadcasts for NFL games that fail to sell out.
A look at the massive hack attack at Sony and the nastiness it revealed, with The New Yorker's Ken Auletta. It becomes a real business changer for a lot of people in Hollywood, says Auletta.
Netflix Inc's second season of women's prison comedy "Orange is the New Black" landed a nod, alongside HBO's new tech satire " Silicon Valley"; Hispanic comedy "Jane the Virgin" from The CW, jointly owned by CBS and Warner Bros, and the only broadcast network show in the race; and Amazon Instant Video's transgender show, "Transparent. "The field of television is going...