Latest news with #LegendaryEntertainment
Los Angeles Times
5 days ago
- Business
- Los Angeles Times
Hollywood is struggling. So why does anyone want to buy a movie studio now?
The theatrical box office market is down. It's harder than ever to get people out of their homes and into the cinema. The business model for movies in streaming is still a work in progress. Given all these challenges, who would want to buy a movie studio now? Many people, it turns out. Earlier this month, the entertainment industry was abuzz after reports that film and TV production company Legendary Entertainment, the company behind 'Dune' and 'A Minecraft Movie,' was considering a potential acquisition of 'Hunger Games' and 'John Wick' producer and distributor Lionsgate Studios. Both companies have declined to comment on the reports. It's hardly the only deal news in the film business. In June, independent film finance and production firm Alcon Media Group — known for 'The Blind Side' and 'Blade Runner 2049' — bought the film library of 'Joker' and 'Ocean's Eleven' producer and financier Village Roadshow Entertainment for $417.5 million after an auction process that was part of the West Hollywood company's Chapter 11 bankruptcy proceedings. Village Roadshow did not respond to a request for comment. Alcon could not be reached for comment. And of course, the biggest takeover in the business is the long-pending sale of Paramount Global to Skydance Media, an $8-billion deal that received government approval Thursday. Though the first half of the year has been rocked by uncertainty in the financial markets, including fears about the effects of President Trump's tariffs and trade policies, there is likely pent-up demand for dealmaking that could emerge in the coming months and years, said lawyer Tom Ara, a partner in the private equity group at Weil, Gotshal & Manges, who also leads the firm's entertainment, sports and media practice. 'There's a lot of capital sitting on the sidelines, and I think there's a lot of desire by different strategic and financial players to make deals,' he said. 'Film, TV — it's still the least expensive form of entertainment for the vast majority of the general public, and so it's not going anywhere.' Movie attendance was badly damaged by the COVID-19 pandemic and has not recovered. Domestic revenue remains down 24% from 2019, according to Comscore. But even as the industry has undergone change and upheaval, strategic buyers, both foreign and domestic, see value in what film studios are producing. Intellectual property has become key, as audiences now gravitate mostly toward what they already know. With studios' vast libraries of films, not only could those collections be ripe for reboots, sequels, prequels or spinoffs, but they also give owners options for other, non-film revenue streams, such as merchandise, theme park opportunities, TV shows, streaming deals and licensing. 'It's less about short-term earnings and more about using that film studio as a key to unlock strategic value down the road,' said Brandon Katz, director of insights and content strategy at research firm Greenlight Analytics. 'They're not necessarily standalone cash cows. The interest in one is more about the broader ecosystem.' While intellectual property can come from anywhere, movies are a particularly valuable way to generate value because of their worldwide distribution. A major hit can drive more revenue at every stage of a film's post-release distribution journey, said J. Christopher Hamilton, a practicing entertainment attorney and a professor at Syracuse University who focuses on the business of media. 'It's like being given the raw materials to build the empire,' he said. 'No matter how successful the streaming network is ... it's never going to have the same level of impact globally on every level as a blockbuster hit.' Private equity firms — which tend to be attracted to film and TV libraries because of the cash flow they generate — have retrenched a bit from their previous interest in Hollywood. But some groups have participated in recent deals, including RedBird Capital Partners, which is backing the Skydance bid for Paramount, and Apollo Global Management, which also made a play for Paramount in a joint bid with Sony Pictures Entertainment. Apollo has a minority stake in Legendary. Lionsgate has long been considered a potential acquisition target, particularly as it's one of few so-called mini-major studios left in the industry. The company acquired cable network Starz in 2016 for $4.4 billion to bulk up and better compete in the media ecosystem. But the business model for traditional television cratered amid the rise of streaming, and earlier this year, the two formally split into separate publicly-traded companies. Lionsgate merged its studio business with a special purpose acquisition company in a deal that valued its assets at $4.6 billion and gave it a way to raise new capital. The decoupling from Starz was seen as a way for Lionsgate to separate itself from the declining fortunes of the TV business and potentially be more attractive to buyers as a standalone studio, analysts said. Lionsgate also has a distribution arm, which could be enticing for a company like Legendary, which partners with other studios such as Warner Bros. to release its films. Village Roadshow, which has a library of 108 films including stakes in 'The Matrix' films and 'Mad Max: Fury Road,' went up for sale amid a bruising legal battle with Warner Bros. and after the pandemic and the dual writers' and actors' strikes of 2023 throttled an ambitious slate. Alcon, led by co-CEOs Broderick Johnson and Andrew Kosove, could be limited in what it can do with the properties, many of which were released by and co-financed with Warner Bros. Pictures. But Alcon still saw value in the assets to supplement its own content library. The Village Roadshow titles collectively generate an estimated $50 million annually, Alcon said. For David Ellison and his billionaire father, Oracle Corp. co-founder Larry Ellison, buying a legacy studio like Paramount is an opportunity to turn around an asset that has long suffered from poor corporate decision making and chronic underinvestment. Who else could be in the market for a studio or film library during this period of consolidation? Foreign buyers are a possibility, particularly those from the Middle East, analysts and experts said. Qatari broadcaster BeIN Media Group already owns a 51% stake in film and TV studio Miramax (Paramount Global owns the other half). Last year, Saudi Arabia launched a $100 million film fund to attract productions to the country. And Hollywood studios are recognizing the potential for new audiences and customer bases in the Middle East — earlier this year, Walt Disney Co. said it would open a new theme park in Abu Dhabi, United Arab Emirates. Though tech companies like Apple or Google are frequently discussed as potential buyers of legacy studios, the fact that none have yet embarked on a deal — with the exception of Amazon for MGM Studios — could indicate that they don't see it as a business priority, Hamilton said. In the end, the discussion about mergers and acquisitions indicates the volatility of the industry — and individual studios' realistic assessments about their own futures, said Corey Martin, managing partner and chair of Granderson Des Rochers' entertainment finance practice. 'I think that we're going to see further consolidation,' he said. 'You're already seeing the signs of some of these various parties coming to grips, being honest with themselves as companies and platforms about whether they're buyers or sellers — and to the extent you are a seller, how do you best position yourself to maximize shareholder value?'
Yahoo
16-07-2025
- Entertainment
- Yahoo
Live-Action ‘My Little Pony' Movie in the Works From Amazon MGM and Hasbro
'My Little Pony' is getting ready to gallop on to the big screen in a live action feature from Amazon MGM Studios and Hasbro Entertainment, Variety has confirmed. Based on the popular toys that date back to 1982, the ponies have cantered into numerous animated series and feature films since the 1980s. The most recent feature-length outing was 'My Little Pony: A New Generation' in 2021, which became popular on Netflix. More from Variety Amazon MGM Studios Names Charlie Coleman as Head of International Theatrical Marketing What's Next for Denis Villeneuve's Bond Movie? Amazon's Wishlist Includes Jacob Elordi, Tom Holland and Harris Dickinson Amazon MGM Partners With Sony Pictures for International Theatrical Distribution Under New Multi-Year Deal My Little Pony toys have been sold in more than a thousand varieties, according to Hasbro. My Little Pony was recently inducted into the National Toy Hall of Fame. Hasbro's strategy to produce film and TV series based on its familiar brands include reimagining 'Clue' on film and television with Sony's TriStar and Sony Pictures Television, the live-action Dungeons & Dragons series 'Forgotten Realms,' in development at Netflix, the animated 'Magic: The Gathering Series' in production at Netflix, the live-action film and television 'Magic: The Gathering' universe with Legendary Entertaimnent and game shows based on Trivial Pursuit and Scrabble which premiered on the CW. The news was first reported by The Insneider. more to come… Best of Variety 'Harry Potter' TV Show Cast Guide: Who's Who in Hogwarts? Final Emmy Predictions: Talk Series and Scripted Variety - New Blood Looks to Tackle Late Night Staples Oscars 2026: George Clooney, Jennifer Lopez, Julia Roberts, Wagner Moura and More Among Early Contenders to Watch
The Hindu
15-07-2025
- Entertainment
- The Hindu
‘Commando' star Vidyut Jammwal cast as Dhalsim in live-action ‘Street Fighter' film
Indian actor and martial artist Vidyut Jammwal has been cast as Dhalsim in the upcoming live-action adaptation of Street Fighter, produced by Legendary Entertainment. The project marks Jammwal's Hollywood debut and will introduce the Commando star to U.S. audiences in one of gaming's most iconic roles. Dhalsim, first seen in Street Fighter II in 1991, is a peaceful yogi known for his elastic limbs and ability to breathe fire, that are drawn from mystic yoga traditions. While fundamentally non-violent, the character fights in the tournament to support his family, often standing out as one of the more spiritual figures in the franchise. Jammwal, known for his physically demanding action roles in the Commando and Khuda Haafiz series, is recognised for his real-life martial arts expertise. According to sources, Jammwal was intentional in selecting Street Fighter as his Hollywood launchpad. Directed by Bad Trip filmmaker Kitao Sakurai, the project also stars Andrew Koji as Ryu, Noah Centineo as Ken, Callina Liang as Chun-Li, David Dastmalchian as M. Bison, Cody Rhodes as Guile, Jason Momoa as Blanka, and Curtis '50 Cent' Jackson as Balrog, among others. Originally launched in 1987, Capcom's Street Fighter is one of the most successful video game franchises of all time, with over 55 million units sold worldwide. The games revolve around a global martial arts tournament orchestrated by the villainous M. Bison and feature a diverse roster of fighters from around the world.
Time of India
15-07-2025
- Entertainment
- Time of India
Vidyut Jammwal set for his Hollywood debut; Lands role as Dhalsim in 'Street Fighter' live-action film
Bollywood action star Vidyut Jammwal is officially heading to Hollywood. The Commando actor has reportedly landed a role as Dhalsim in Legendary Entertainment's upcoming live-action Street Fighter movie, based on the iconic video game franchise. Deadline reports that this casting marks Jammwal's Hollywood debut, a move the actor has reportedly been carefully planning. Known as a real-life martial arts enthusiast, with some high-octane action performances in Indian films, Jammwal is set to put his skill to the test. His character of Dhalsim is said to be a mystical, fire-breathing yogi, first introduced in Street Fighter II in 1991. Dhalsim fights only to protect and support his family, making him one of the franchise's most complex and beloved characters. With this, Jammwal joins a star-studded ensemble that includes Andrew Koji as Ryu, Noah Centineo as Ken, Callina Liang as Chun-Li, David Dastmalchian as M. Bison, Cody Rhodes as Guile, Jason Momoa as Blanka, Curtis '50 Cent' Jackson as Balrog, Orville Peck as Vega, Andrew Schulz as Dan Hibiki, Roman Reigns as Akuma and Hirooki Goto as E. Honda. While the plot of the movie has not yet been confirmed, Street Fighter revolves around a global martial arts tournament orchestrated by the villainous M. Bison, pitting fighters from around the world against one another. The new film is set to reintroduce the cult franchise to a new generation of fans. Vidyut now joins the ranks of Ishaan Khatter, Alia Bhatt , and many other Indian stars who have ventured West and starred in various Hollywood productions that span film and television.
Yahoo
15-07-2025
- Entertainment
- Yahoo
Street Fighter Movie Finds Its Live-Action Guile Actor
The live-action cast is growing yet again, with a new report suggesting that a WWE superstar has joined the film as Guile. According to a new report from Nexus Point News, WWE superstar Cody Rhodes is currently in talks to play the role of Guile. Guile first appeared in 1991's Street Fighter II, and has since become one of the more iconic characters in the franchise. He's best known for his legendary flat-top hair style, iconic theme song, and his militaristic outfits, as his character is a colonel in the United States Air Force. Should Rhodes get the role, the former Undisputed WWE Champion would be joining another WWE icon in the movie, as Akuma is rumored to be played by none other than Joe Anoa'i, also known as Roman Reigns. The cast of the upcoming Street Fighter movie features a star-studded group, including Andrew Koji as Ryu, Callina Liang as Chun-Li, Noah Centineo as Ken, Jason Momoa as Blanka, Roman Reigns as Akuma, Orville Peck as Vega, Andrew Schulz as Dan Hibiki, and Curtis '50 Cent' Jackson as Balrog. Production on the film is expected to begin in Australia this coming August. Plot details remain under wraps at this time. Legendary Entertainment is co-developing and co-producing the project alongside Capcom. A release date for the Street Fighter movie has not yet been set. (Source: Nexus Point News)
