Taylor Sheridan to Depart Paramount for NBCUniversal Deal
Taylor Sheridan is leaving Paramount, signaling a significant change in his relationship with the studio known for producing his popular TV series and films.
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Film And Tv Production
All articles tagged with #film and tv production
California Boosts TV Production with $256M Tax Credits to Revitalize Hollywood
California has announced the first round of its $750 million tax incentives program to boost Hollywood production, awarding credits to 22 projects including series from Lionsgate, AppleTV+, Hulu, and Netflix, with the aim of revitalizing the industry after wildfires and runaway production. The incentives are expected to generate over $1.1 billion in economic activity and support thousands of jobs across the state.
"Paramount Nears Exclusive Acquisition Talks with Skydance Media"
Paramount Global and its parent company are nearing an exclusive negotiation agreement with Skydance Media, potentially leading to a three-way transaction that involves Skydance acquiring National Amusements and then Paramount Global. The deal, which has been in discussion for months, aims to keep the company's major film and TV assets intact to maximize value and protect its legacy. The uncertainty around Paramount's future has affected its ability to make deals and has impacted its stock price.
Hollywood's Strike Ends, but Ripple Effects and Streaming Shakeout Linger
The strikes by the Writers Guild of America and SAG-AFTRA have provided short-term financial relief to Hollywood studios, allowing them to reset their business plans and make cost-cutting measures amid streaming losses. The strikes are estimated to generate about $10 billion in additional free cash flow for major conglomerates like Disney and Warner Bros. Discovery. As a result, studios are expected to trim budgets, reduce the use of A-list talent, and focus on short-term project deals. The strikes have also caused delays in film and TV production, resulting in a thinner slate of blockbusters and shorter seasons for viewers. The industry is likely to see a wave of austerity measures and a shift towards prioritizing quality over quantity in streaming content.
"State Rivalry: California Extends Film Tax Credit, New Jersey Lures Netflix Studio"
California has extended its $330 million tax incentive for film and TV production for five more years, making the credit refundable for the first time. The bill also includes provisions for promoting diversity in the industry and establishing gun safety requirements. In a separate move, New Jersey has expanded its incentive for production infrastructure, aiming to attract Netflix and Lionsgate to build new studios in the state. The cap on New Jersey's incentive for studio construction will increase, and the incentive for production companies leasing space at New Jersey studios will also rise. Other states like New York and Texas have also recently increased their film tax incentives, while Nevada's bill to provide incentives for film and TV projects was not approved.
Hasbro Considers Selling Entertainment One Back to Founder.
Hasbro is in talks with Entertainment One founder Darren Throop to sell the film and TV production and distribution unit he sold to the toy giant in 2019. J.P. Morgan and Centerview Partners have led a formal auction for eOne, which has a film and TV library with around 6,500 titles. Any possible sale of eOne is likely to see Hasbro retain Peppa Pig and other key properties acquired when the toy maker acquired the Toronto-based indie studio four years ago as part of a $4 billion all-cash transaction.