Latest news with #BlackOwnership
Yahoo
3 days ago
- Business
- Yahoo
One Way Sinners May Continue To Be A Big Success For Ryan Coogler, But It's No Guarantee: ‘He's Making A Lot Of Money Off It Now.'
When you buy through links on our articles, Future and its syndication partners may earn a commission. Ryan Coogler has a natural gift for making box office-grossing movies. From his debut indie film, Fruitvale Station, making $17 million, to the recently-released Sinners making bank at $292.4 million, I'd say the American filmmaker is doing very well for himself. While Coogler's 2025 movie release continues to make 'a lot of money off it now,' there's no telling how long this can go on for. Sinners may have been a mainstream movie currently owned by Warner Bros., but Ryan Coogler made sure to seek out full ownership of his horror flick in 25 years to emphasize its themes of Black ownership. While the genre-bending movie is a real success now, veteran entertainment and technology attorney, Jonathan Handel, told Business Insider that there's no telling if Sinners' money-making train will continue rolling by 2050: He's making a lot of money off it now and has the potential to make money 25 years from now through ownership. But he's rolling the dice. Jonathan Handel continued to say that Ryan Coogler would have gotten more money up front if he hadn't pushed for ownership. It's clear that the Black Panther director has a lot of faith in his passion project if he's betting on his movie still having the same value and appeal 25 years from now. Many up-and-coming filmmakers in the indie scene have been known to take ownership of their movies. Quentin Tarantino sure did owning Once Upon a Time…In Hollywood after his deal with Sony, as well as Coffee and Cigarettes' Jim Jarmusch owning most of his movies. Sinners had the biggest opening weekend for an original movie of 2025 at $45.6 million and an astonishing second weekend, bringing the movie to $100 million domestically. Before we knew it, the Michael B. Jordan-led movie crossed a major milestone by raking in $200 million domestically in its fourth weekend, which hasn't been done for an original movie since 2017's Coco. With all of these big numbers and audiences taking so well to the vampire movie, it's natural to believe its accomplishments will keep going. Jonathan Handel also theorized that Sinners could continue to be profitable if the way we watch movies changes by 2050. If audiences have access to watching 3D movies, the Creed director could earn millions through licensing agreements. However, if these innovative watching practices occur before Ryan Coogler has a chance to own the rights, Sinners is still in Warner Bros.' control, which can choose not to make the movie 3D or through a 'holdback' that delays certain rights. If a Sinners sequel is in the cards, Ryan Coogler would have full control and profits if it's made 25 years later. But assuming Warner Bros. will hurry up with Sinners 2 way before 2050, Jonathan Handel assumes the Academy Award-nominated director might miss out unless he's directly part of the project. Sinners is considered one of 2025's most successful movies, but there's no guarantee money will keep coming in once ownership rights revert to Ryan Coogler in 25 years. But once the musical-horror film's rights go back to Coogler in 2050, it's predicted that movie libraries and licensing deals can make the director $1 million a year. While it's hard to know what will be considered a classic decades from now, we'll leave it to future audiences and industry experts to see if the film will stand the test of time. For now, you can continue seeing Sinners playing in theaters.
CTV News
27-05-2025
- Business
- CTV News
South Africa denies trying to bend the rules to give Musk's Starlink preferential treatment
Tesla and SpaceX CEO Elon Musk speaks at the SATELLITE Conference and Exhibition, March 9, 2020, in Washington. (AP Photo/Susan Walsh, File) JOHANNESBURG — South Africa's communications minister Tuesday denied accusations that a draft policy watering down Black ownership requirements for tech firms was proposed to benefit the Starlink business of white South African-born billionaire Elon Musk. Under South African law, foreign-owned companies are required to sell 30% of their subsidiaries to shareholders who are Black, or from other racial groups disadvantaged under the former apartheid system of white minority rule, in order to acquire a license. However, Communications Minister Solly Malatsi on Friday proposed easing the requirement, prompting criticism from various political parties. The proposed change would allow Starlink and others to fulfill their empowerment requirements through things like investing in skills development and job programs and striking deals with local suppliers. The minister put forward the directive days after South African President Cyril Ramaphosa met with U.S. President Donald Trump at the White House, when Trump made baseless claims that white South African farmers were being systematically killed, raising eyebrows. A senior African National Congress lawmaker, Khusela Diko, questioned the timing of the directive and whether the country was bending over backward to accommodate Musk's Starlink satellite telecom business. The Association of Communications and Technology (ACT), an industry body, said the proposed changes could usher in 'a new era' for the industry provided they are implemented consistently, fairly and openly. 'We advocate for smarter, scalable approaches that deliver meaningful impact and restore policy clarity, consistency, and investor confidence,' the ACT said in a statement. On Tuesday, Malatsi, who belongs to the Democratic Alliance party, appeared before Parliament in Cape Town to defend the move and denied suggestions it was introduced specifically for Starlink. Lawmakers questioned whether the directives were correctly opening up the playing field for foreign players or tampering with the government's economic empowerment agenda by catering to Starlink. Musk has repeatedly denounced the Black ownership laws and said on social media that Starlink wasn't able to get a license to operate in South Africa because he was white. South African authorities say Starlink hasn't formally applied. According to the Starlink website, the service in southern Africa is available in Eswatini, Mozambique, Botswana, Zimbabwe, Zambia, Malawi, Kenya and Madagascar. Since Trump's inauguration, his administration is reported to have intervened on behalf of Starlink in Gambia, Lesotho and a few other developing nations, using the U.S. government's foreign policy apparatus to advance Musk's business interests. After Trump threatened them with large tariffs, Lesotho approved Starlink for a 10-year license in April, just a week later. Malatsi said the regulations would allow for more than one new operator to enter the market, boosting competition. 'We are not attempting to open a special dispensation for Starlink or any other company or an individual,' Malatsi told lawmakers, adding that work on the policy direction started around September, and was not prompted by the recent meeting between Trump and Ramaphosa. 'There is no conspiracy on our part with regard to this policy direction,' said the minister. Stakeholders, industry players and the public have been given 30 days to send in submissions and provide comment before the framework is finalized. Michelle Gumede, The Associated Press
The Independent
27-05-2025
- Business
- The Independent
South Africa denies trying to bend the rules to give Musk's Starlink preferential treatment
South Africa's communications minister Tuesday denied accusations that a draft policy watering down Black ownership requirements for tech firms was proposed to benefit the Starlink business of white South Africa n-born billionaire Elon Musk. Under South African law, foreign-owned companies are required to sell 30% of their subsidiaries to shareholders who are Black, or from other racial groups disadvantaged under the former apartheid system of white minority rule, in order to acquire a license. However, Communications Minister Solly Malatsi on Friday proposed easing the requirement, prompting criticism from various political parties. The proposed change would allow Starlink and others to fulfill their empowerment requirements through things like investing in skills development and job programs and striking deals with local suppliers. The minister put forward the directive days after South African President Cyril Ramaphosa met with U.S. President Donald Trump at the White House, when Trump made baseless claims that white South African farmers were being systematically killed, raising eyebrows. A senior African National Congress lawmaker, Khusela Diko, questioned the timing of the directive and whether the country was bending over backward to accommodate Musk's Starlink satellite telecom business. The Association of Communications and Technology (ACT), an industry body, said the proposed changes could usher in 'a new era' for the industry provided they are implemented consistently, fairly and openly. 'We advocate for smarter, scalable approaches that deliver meaningful impact and restore policy clarity, consistency, and investor confidence,' the ACT said in a statement. On Tuesday, Malatsi, who belongs to the Democratic Alliance party, appeared before Parliament in Cape Town to defend the move and denied suggestions it was introduced specifically for Starlink. Lawmakers questioned whether the directives were correctly opening up the playing field for foreign players or tampering with the government's economic empowerment agenda by catering to Starlink. Musk has repeatedly denounced the Black ownership laws and said on social media that Starlink wasn't able to get a license to operate in South Africa because he was white. South African authorities say Starlink hasn't formally applied. According to the Starlink website, the service in southern Africa is available in Eswatini, Mozambique, Botswana, Zimbabwe, Zambia, Malawi, Kenya and Madagascar. Since Trump's inauguration, his administration is reported to have intervened on behalf of Starlink in Gambia, Lesotho and a few other developing nations, using the U.S. government's foreign policy apparatus to advance Musk's business interests. After Trump threatened them with large tariffs, Lesotho approved Starlink for a 10-year license in April, just a week later. Malatsi said the regulations would allow for more than one new operator to enter the market, boosting competition. 'We are not attempting to open a special dispensation for Starlink or any other company or an individual,' Malatsi told lawmakers, adding that work on the policy direction started around September, and was not prompted by the recent meeting between Trump and Ramaphosa. "There is no conspiracy on our part with regard to this policy direction,' said the minister. Stakeholders, industry players and the public have been given 30 days to send in submissions and provide comment before the framework is finalized.
Washington Post
27-05-2025
- Business
- Washington Post
South Africa denies bending the rules to give Musk's Starlink preferential treatment
JOHANNESBURG — South Africa's minister of communications on Tuesday denied accusations that a draft policy watering down Black ownership requirements for tech firms was not proposed to benefit the Starlink business of white South African-born tech billionaire Elon Musk. Under South African law, foreign-owned companies are required to sell 30% of their subsidiaries to shareholders who are Black, or from other racial groups disadvantaged under the apartheid system of white minority rule, in order to acquire a license.
Associated Press
27-05-2025
- Business
- Associated Press
South Africa denies bending the rules to give Musk's Starlink preferential treatment
JOHANNESBURG (AP) — South Africa's minister of communications on Tuesday denied accusations that a draft policy watering down Black ownership requirements for tech firms was not proposed to benefit the Starlink business of white South African-born tech billionaire Elon Musk. Under South African law, foreign-owned companies are required to sell 30% of their subsidiaries to shareholders who are Black, or from other racial groups disadvantaged under the apartheid system of white minority rule, in order to acquire a license. However, Communications Minister Solly Malatsi on Friday proposed easing the requirement, prompting criticism from various political parties. He put forward the directive days after South African President Cyril Ramaphosa met with U.S. President Donald Trump at the White House, when Trump made baseless claims that white South African farmers were being systematically killed. A senior lawmaker, Khusela Diko, questioned the timing of the directive and whether the country was bending over backwards to accommodate Musk's Starlink satellite telecoms business. On Tuesday Malatsi appeared before Parliament in Cape Town to defend the move and denied suggestions it was introduced specifically for Starlink. Lawmakers questioned whether the directives were correctly opening up the playing field for foreign players or tampering with the government's economic empowerment agenda by catering to Starlink. Musk has repeatedly denounced the Black ownership laws and said on social media that Starlink wasn't able to get a license to operate in South Africa because he was white. South African authorities say Starlink hasn't formally applied. Malatsi said the regulations would allow for more than one new operator to enter the market, boosting competition. 'We are not attempting to open a special dispensation for Starlink or any other company or an individual,' Malatsi told lawmakers, adding that work on the policy direction started around September, and was not prompted by the recent meeting between Trump and Ramaphosa. 'There is no conspiracy on our part with regard to this policy direction,' said the minister. Stakeholders, industry players and the public have been given 30 days to send in submissions and provide comment before the framework is finalized.
