Today In Entertainment MAY 07, 2020
What's news: Saudi Arabia eyes Warner Music Group, ViacomCBS accelerates its streaming plans, how will red carpets adapt to a COVID-19 world? ViacomCBS, Fox and Dish detail pandemic impacts, Mandalorian tech and esports shine during the crisis, Sinclair fined $48 million by the FCC. Plus: CBS renews 15 shows and cancels 4, and Dwayne Johnson and Emily Blunt team on a new superhero project. --Alex Weprin Saudi Arabia Circles Hollywood Deals ►Saudi Arabia eyes Hollywood investments as firms face cash-crunch. Sources familiar with the PIF's strategy tell THR's Tatiana Siegel to expect more deals. Lots more. The $300 billion fund remains interested in the entertainment and sports sector and is close to completing a $380 million deal to acquire England's Newcastle United soccer team. Carla DiBello, a Dubai-based Saudi rainmaker with Hollywood film and TV roots, spearheaded that deal. With oil at rock-bottom prices thanks to the novel coronavirus pandemic, the Saudis are motivated to diversify, and with showbiz stocks declining, the timing could be right for more showbiz investments. --Among the targets: Warner Music Group. The privately held label — one of only three majors, with artists like Madonna and Camila Cabello — is valued at around $12.5 billion. "There's one other bid in the mix, and it will come down to a number," a source tells Siegel. The story. ►ViacomCBS is speeding up the launch of its premium streaming service. CEO Bob Bakish told analysts this morning (see the earnings updates below) that the company is "accelerating plans" to get the service to market, with a rebrand and UI refresh of CBS All Access this summer. The company will add movies from Paramount Pictures, and programming from Comedy Central, Nickelodeon and other cable channels in the rebranding. Bakish said that because it will be built off of CBS All Access and they are not building a new platform (like Peacock/HBO Max) the launch can happen quicker. First-run programming will be shared between the streaming service and the cable channels. --Bakish added that the company's franchise IP will be a centerpiece of the new service, however, the company will continue selling some programming to third-party services, such as the deal to sell South Park to HBO Max, noting that the revenue is hard to ignore. CBS All Access will ad genre categories like kids, crime and other content areas in the refresh. More. ►Endeavor to sell minority stake in Fortnite maker Epic Games. The WME parent corporation owns a minority piece of Epic Games and is looking to sell its portion of the video game company for a high multiple. The news of the sale comes on the heels of a Bloomberg report last month that Epic is looking to raise an additional round of funding. The most recent market valuation of Epic Games placed the company's value at $15 billion. Epic declined to comment on the sale. The story. --Context: Endeavor, which has been hit hard by the novel coronavirus pandemic, is in serious need of liquidity, with essentially all live events shut down. The stake in Epic games could provide a much-needed financial boost. +There's another reason why Endeavor may want to sell now. Epic Games revealed Wednesday that Fortnite now has more than 350 million registered players, making it one of the widest-reaching games of all time. More. ^Plastic shields, interview pods, no more entourages: Red carpets' new normal? Event insiders and planners imagine the drastic possibilities of a carpet with more space and fewer attendees, Chris Gardner reports: "No one wants to be exposed like that anymore." Quote: "Some ideas include virtual arrivals, checkerboard seating inside theaters, digital ticketing, drive-in experiences, and LED screens that stream fans in from their respective homes so stars can interact in moments that can also be utilized in marketing campaigns. Even more attention will be paid to theater capacity in order to accommodate for proper spacing between guests. Just don’t expect to see massive parties with free-flowing hors d’oeuvres. 'Gone are the days of putting out a buffet,' says Craig Waldman, president and chief creative officer of 1540 Prods., adding that caterers could shift to individually wrapped food or chefs behind glass. The story. ►Behind the making of Becoming, Michelle Obama's top-secret Netflix doc. Working covertly and with a skeleton crew, first-time director Nadia Hallgren captured private moments and arena crowds during the former First Lady's book tour, Rebecca Keegan reports. Quote: "About half the time, it was just me. The other half of the time, the crew was myself, my producer Lauren Cioffi, and we had a sound person," Hallgren says. "One of the biggest challenges immediately was the way that Mrs. Obama moves through the world. She is flanked by Secret Service everywhere that she goes. She moves very, very quickly. And then there was always almost this actual physical barrier between her and the world. And so for me, I have to figure out how to get physically close to her in order to make this film feel intimate." The interview. ViacomCBS, Fox and Dish Detail COVID Impact ►ViacomCBS earnings: Ad revenue, film profit drop, but streaming services have "best month" amid pandemic. The company, led by CEO Bob Bakish, says its "proactive response to COVID-19 included actions to significantly increase financial flexibility and materially reduce costs." The story. +Also: ViacomCBS and Google on Thursday unveiled a multi-year distribution agreement to offer 14 additional cable networks to YouTube TV subscribers. YouTube TV has already carried programming from CBS Corp. More. +Fox Corp. earnings: Fox on Wednesday reported a rise in quarterly revenue, as the owner of Fox News Channel and Fox Entertainment recorded higher advertising revenue due to the broadcast of Super Bowl LIV. CEO Lachlan Murdoch told analysts that there was a "slowdown" in political campaign ad buys amid the COVID-19 crisis as political primaries were delayed, though Murdoch expected political ad revenues to "intensify" as the presidential election in November nears. "We believe we are still on track for a record political season," Murdoch concluded. The story. +Also: The network has renewed its top-rated unscripted series The Masked Singer and Lego Masters for the 2020-21 season. Lachlan Murdoch said on the company's quarterly earnings call Wednesday that he hopes for a fall debut for season four of The Masked Singer, if production is able to resume in August. More. +Dish loses record 413,000 TV subscribers amid "severe disruption" from pandemic. "The COVID-19 pandemic caused severe disruption in certain commercial segments served by Dish, including the hospitality and airline industries," says the company about the record quarterly subscriber drop. More. +How Disney's Bob Chapek managed on his first earnings call as CEO. "All things considered, Bob Chapek did a superb job managing his first earnings call, particularly as this call was likely the most challenging call for the company since right after September 11," Moody's analyst Neil Begley told THR. The story. +Disney's credit rating downgraded by Fitch over virus impact. "Fitch's rating action incorporates our expectation that the coronavirus pandemic will materially weaken Disney's operating and credit profile through the remainder of the company's fiscal year 2020 and into its fiscal year 2021, with shortfalls driven primarily by the Parks, Experiences and Products segment," Fitch said Wednesday in a credit rating report. More. ►Can Baby Yoda save production? Mandalorian tech shines during pandemic. Jon Favreau, the creator of the Disney+ series and one of THR's Top Hollywood Innovators, developed a video-wall tech that has found practical applications in the COVID-19 era, when travel for shoots will be scarce. The story. +Fox Sports zooms into post-pandemic future with virtual NASCAR. Fox's Eric Shanks and iRacing's Steve Myers say the popularity of the competition, where pro racers compete on virtual tracks from their homes, has opened the door for more esports on TV. More. +"We could actually break the internet": Disney+'s seamless European launch during pandemic. Joe Inzerillo and Jerrell Jimerson, the duo responsible for the technical infrastructure and product experience for the high-priority new streamer planned for a fast rollout of Disney+'s European launches (during lockdown, no less). More. ►Hollywood unions aim to negotiate "uniform terms" with employers as industry plots restart. In a call convening 10 separate entertainment unions to discuss their coronavirus relief efforts, leaders talked endorsing presidential candidates and said OSHA regulations are "just one element" of planning to return to work. The story. ►How I'm Living Now: Gary Levine, Showtime Networks' president of entertainment. As president of entertainment for Showtime Networks, Gary Levine has been riding out the pandemic from his home in Los Angeles. When he isn't reading scripts and watching cuts of the Showtime series that banked episodes pre-shut down, he's kept busy cooking with his child psychologist wife and, as a cantor on the side, leading his congregation over Zoom. He spoke to THR about his new, if temporary, normal. The interview. CBS Renews 15 Shows, Cancels 4 ►NCIS and FBI franchises among 15 scripted renewals at CBS. Also set to return are stalwart dramas Blue Bloods, Bull, MacGyver, Magnum P.I., SEAL Team, SWAT and comedy The Neighborhood. The network has also renewed four of its freshman programs, with All Rise, Chuck Lorre's Bob Hearts Abishola and The Unicorn joining spinoff FBI: Most Wanted. Veteran newsmagazines 60 Minutes and 48 Hours, as well as veteran competition series Undercover Boss will also return. --However: Matt LeBlanc comedy Man With a Plan (which returned for its fifth season in early April), rookie midseason multicam Broke (starring network favorite Pauley Perrette); Patricia Heaton-led Carol's Second Act and Edie Falco's cop drama Tommy have all been canceled. Here's the full list of renewals and cancelations. +FX has given a series order to a half-hour anthology from former The Office and The Mindy Project veteran B.J. Novak. The untitled series (formerly known as Platform) will feature a different cast in each episode. More. ►Blake Lively, Shawn Levy team for post-apocalyptic thriller Dark Days at the Magna Carta. Lively will star in and produce the thriller through her B for Effort production banner along with Kate Vorhoff, giving the high-profile actress a potential franchise to call her own. The story. +Dwayne Johnson, Emily Blunt to reteam for superhero project Ball and Chain. The project is being described as a superhero story meets Mr. and Mrs. Smith, where a couple struggling in their marriage are equipped with superpowers. However, their powers only work when they’re together. More. Sinclair Broadcast Group has agreed to pay a $48 million penalty to the Federal Communications Commission as part of a deal to settle three open investigations into the company. The fine, which the FCC says is the largest ever by a broadcaster, covers Sinclair’s actions during its ill-fated takeover of Tribune Media. The story. +Wisconsin TV station pushes swift end to Trump's lawsuit over political ad. The owner of an NBC affiliate gives four big reasons why a judge should throw out a libel claim concerning the president's coronavirus response. More. +Peloton reports $49 million in legal costs after settlement with music publishers. The figure likely reflects what it took to get the tech-enabled fitness startup out of a massive copyright suit filed by song publishers. The figure was disclosed Wednesday in an earnings report by the company. The music publishers had been alleging $300 million in damages in the closely followed case. Peloton, which went public last year, was accused of infringing thousands of songs by not properly obtaining sync licenses. More. Ricky Gervais is expanding his relationship with Netflix. The actor, writer, producer and comedian has signed a multiple-year overall deal with the streamer. Included in the deal is a third season renewal for scripted comedy series After Life, which Gervais created, writes, directs and stars in. Under the overall pact, valued at what sources decribe in the eight-figure range, Gervais will create new scripted series for as well as additional stand-up comedy specials for the streamer. The story. +Dickinson creator inks overall deal at Apple. Alena Smith has signed a multi-year overall deal with the tech giant, under which she'll create new projects exclusively for the Apple TV+ streaming platform. More. +eOne inks first-look deal with Marvel alum Jeremy Latcham. Latcham's first project under the pact will see him produce the Paramount set Dungeons & Dragons movie, which has Jonathan Goldstein and John Francis Daley set to write and direct. More. +Cadence13, Headspace ink podcast partnership. The podcast company will work with Headspace's studio division to create a slate of original podcasts. More. ►Brian Stelter's new book will focus on Fox News Channel's coronavirus coverage. The book, titled Hoax: Donald Trump, Fox News, and the Dangerous Distortion of Truth, is based on interviews conducted with "over 250 current and former Fox News insiders," and will be released on Aug. 25 by One Signal Publishers, an imprint of Simon & Schuster's Altria Books. (Somewhat ironically, a different imprint at the publisher will release a book by Sean Hannity the same month). The story. +CNN's Jeff Zucker: "We're seeing our highest consumption in our history." The CNN president in a video that's part of WarnerMedia's digital advertiser presentation (in lieu of a formal upfront), talked about the success of the network's novel coronavirus coverage. "We've run a global news organization primarily from home, and that will change how CNN operates in the future and covers the news in the future. We appreciate all of your support, and we look forward to getting through this together." The story. ►Peabody Awards: The Peabody Awards board of jurors has revealed its 60 nominees for the most compelling and empowering stories released in 2019 across TV, radio and digital media. Nominees include American Factory, Chernobyl, Surviving R. Kelly and Fleabag. The full list of nominees. ►Former HBO boss Michael Lombardo set to join Entertainment One. The executive has been serving as a consultant for the indie studio but is expected to take a formal position as head of television. The post has been vacant since Mark Gordon departed as president and chief content officer in July 2019 and segued to a producing deal. More. +In other revolving door news: Amanda Powers has been named COO of Dick Clark Productions, where she will report to company president Amy Thurlow... CAA has signed Bao Nguyen, the filmmaker behind Sundance's Bruce Lee documentary Be Water... ►TV review: Daniel Fienberg reviews the Hulu animated series Solar Opposites. "There's something pleasant about how premise-vague Solar Opposites is. They're aliens. They live on Earth. Occasionally they make a mess of things," Fienberg writes. "Sometimes these mini-adventures are very funny and other times they don't quite lock onto the satirical topic with enough edge." The review. ►TV ratings: The season finale of The Conners was fairly steady for ABC in Tuesday's ratings, and The Voice's live, remote results show was up a little compared to the same night a year ago. The rest of ABC's comedy lineup and CBS' FBI: Most Wanted also closed out their seasons. The numbers. Obituaries: Florian Schneider of German electronic band Kraftwerk has died. He was 73... Veteran record executive Bob Garcia, 82, died of natural causes on April 26. His friend and colleague Al Marks confirmed his death... Francis Megahy, a writer, director and documentarian whose credits included the Pierce Brosnan film Taffin and such British series as Minder and the Ian McShane-starring Lovejoy, has died. He was 85... In other news... --Lionsgate and Roadside Attractions have set an Aug. 28, 2020, theatrical release for The Courier, starring Benedict Cumberbatch. --Nickelodeon is leaning into the necessity of remote production during the novel coronavirus pandemic, greenlighting two series that will feature their stars interacting over video chat. --John Malone’s Liberty Global has agreed to merge its U.K. cable operator Virgin Media with Telefonica’s British mobile unit O2. --Tribeca Enterprises, Imax and AT&T said Wednesday that they are partnering to launch "Tribeca Drive-In," a summer programming series of new and classic films, music and sporting events. It will take place in drive-in theaters and "other exclusive venues" nationwide starting Thursday, June 25. --Germany's largest state has unveiled plans to reopen movie theaters as the local economy begins to transition from the lockdown due to the novel coronavirus pandemic. --Top Canadian TV execs won't be previewing their fall TV schedules to ad buyers next month with glitzy parties featuring A-list stars, canapés and cocktails. Canada's live 2020 Upfront has been canceled due to concerns around the coronavirus pandemic. --Tony winner Audra McDonald — a longtime supporter of the Covenant House — is set to host a one-night only benefit concert that will support the nonprofit's COVID-19 relief efforts. --Jason Alexander says he was offered a bribe to leak Seinfeld series finale secrets. What else we're reading... --"Twitch is developing talk shows and dating programs for gamers" [Bloomberg] --"The storm-chasing special effects team behind Twister" [The Ringer] --"How hip-hop royalty found a new home on Instagram Live" [NY Times] --"Never Have I Ever is the L.A. immigrant tale I never thought I’d see on TV: My own" [LA Times] Today's birthdays: Rico Nasty, 23, Kevin Owens, 36, Thelma Houston, 74, Michael Rosen, 74, Aidy Bryant, 33.
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