Private Equity Loves Movies
Sony Pictures announced yesterday that it's scored more private equity dough -- a third co-financing fund established by Relativity Media. This follows Relativity's Gun Hill 1 and Gun Hill 2 deals, which arranged some $750 million in co-financing producing. This fund won't be called Gun Hill 3, but instead, Beverly Blvd LLC. This one will probably be similar to the other two, giving them financing for a "slate" (i.e., a bunch of) films.
Real Fashion, Virtual Show
Or is it virtual fashion in a real show? On Monday, iVillage -- a unit of CNBC.com parent NBC Universal -- hosted a fashion show in a virtual reality game, Second Life. Dozens and dozens of real companies have staked a claim in the virtual world, hoping the exposure among the largely youthful users -- a key demographic -- will boost real-world revenues. The real hook: you won't see these designs in fashion magazines. The show features virtual clothing and accessories designed by Second Life designers, namely, people's avatars: the icons which serve as players' onscreen counterparts. And best of all, if you're a Second Life "resident," you can outfit your avatar by buying the designers' clothes from stores within the game. Oh, and you need some real-world dollars to buy the virtual-world currency.
Going On An Oscar Bender
If you're desperate to catch up on the Oscar flicks, AMC has the ticket -- literally. The movie theater chain is showing a special back-to-back lineup of the five films nominated for Best Picture. The big day is Saturday, Feb. 24th, the day before the Academy Awards. The quintuple-feature costs $30, which includes a large popcorn and soda, with free refills! A good deal.
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