NEW YORK & BEVERLY HILLS, Calif. -- EPIX(TM) and Netflix, Inc. [Nasdaq: NFLX] today announced an agreement through which Netflix members can instantly watch an array of new releases and library titles from EPIX streamed over the Internet from Netflix. Movies from the multi-year deal will begin streaming from Netflix on September 1 and include movies from Paramount, Lionsgate and MGM.

EPIX has subscription pay TV rights to new releases and movies from the libraries of its partners and will make these movies available to Netflix 90 days after their premium pay TV and subscription on demand debuts. Historically, the rights to distribute these films are pre-sold to pay TV for as long as nine years after their theatrical release.

For Netflix, the agreement is a significant step in building the company's streaming offer, adding many popular movie titles from some of the world's leading studios. It adds meaningfully to a growing library of movies and TV shows that can be watched instantly on TVs via a range of leading consumer electronic devices capable of streaming from Netflix and on computers.

For EPIX, the deal reflects the value of the EPIX platform which, from its start, has provided new rights and flexibility for the distribution of its movies. The agreement allows EPIX to continue the distribution of popular content on a variety of platforms and preserve the premium television, subscription on demand and online window reserved for cable, satellite and telco television partners.

"Adding EPIX to our growing library of streaming content, as the exclusive Internet-only distributor of this great content, marks the continued emergence of Netflix as a leader in entertainment delivered over the Web," said Ted Sarandos, chief content officer for Netflix. "The EPIX deal is an example of the innovative ways in which we're partnering with major content providers to broaden the scope and freshness of choices available to our members to watch instantly over the Internet."

Mark Greenberg, president of EPIX, added: "Netflix is an incredibly popular service and we welcome them as our newest distribution partner. We are pleased to be able to continue our mission of bringing consumers the movies where they want to watch them, while satisfying the differing needs of cable, telco and satellite operators. This deal also underscores the tremendous value of our offerings in the marketplace."

 

Read more

KNOXVILLE, Tenn. -- Regal Entertainment Group ("Regal" or the "Company") (NYSE: RGC), announced today that it plans to offer $275 million aggregate principal amount of its senior notes due 2018 (the "Notes"). The Company anticipates that the offering will close on or around August 16, 2010, subject to customary closing conditions. The Company intends to use all of the net proceeds of the offering (i) to redeem all of Regal Cinemas' outstanding 9.375% senior subordinated notes due 2012, (ii) to repurchase or repay all of the Company's outstanding 6.25% convertible senior notes due 2011, (iii) to pay fees and expenses related to this offering, and (iv) for general corporate purposes, which may include the redemption, repayment or repurchase of other indebtedness.

Read more

CULVER CITY, CALIF. -- The knock-out movie of the summer, The Karate Kid, arrives on DVD, Blu-rayTM and a Blu-ray Combo Pack (which will have 3 ways to watch the movie - on Blu-ray, DVD & digital copy - a great value!) October 5th from Sony Pictures Home Entertainment. The action-packed, feel-good family film about how perseverance leads to triumph features rising star Jaden Smith (The Pursuit of Happyness, The Day the Earth Stood Still), martial arts legend Jackie Chan (Rush Hour, Shanghai Noon) and Taraji P. Henson (2008, Best Supporting Actress, The Curious Case of Benjamin Button).

The box-office hit (over $170MM gross) is directed by Harald Zwart (Pink Panther 2, Agent Cody Banks) with a screenplay by Christopher Murphey. Powerhouse producer Jerry Weintraub (The Karate Kid 1984, Oceans 11, 12, 13), returns to the franchise, producing with Will Smith (Seven Pounds, Hancock), Jada Pinkett Smith (TV's "Hawthorne," The Secret Life of Bees), James Lassiter (Seven Pounds, Hancock) and Ken Stovitz. Dany Wolf (The Nanny Diaries, Junebug), Susan Ekins (Oceans 11, 12, 13) and Han San Ping (Kung Fu Hero, Go Lala Go!) were the executive producers.

The Karate Kid DVD and Blu-ray are filled with special features. The DVD includes behind-the-scenes look at the making of the film Just For Kicks, Chinese lessons, as well as the music video for the film's hit song, "Never Say Never," in which Smith sings with teen pop sensation Justin Bieber. The Blu-ray contains exclusive bonus features which include an alternate ending where fans can watch Jackie Chan fight, Production Diaries hosted by Jackie Chan and an interactive map of China which shows all of the amazing locations the movie was shot in. The Blu-ray DiscTM also contains movieIQTM+sync, a new and immersive BD-Live movie watching experience that uses a connected real-time movie database. With a movieIQ enabled Blu-ray Disc and an Internet connected Blu-ray player, movie fans can dive into continuously updated information on the cast and crew while exploring relevant trivia such as production facts, music and soundtrack information, all tied to scenes within the movie. Additionally, movieIQ+sync gives viewers the full movieIQ experience on their computer or iPhone by linking to the Blu-ray disc.

The Karate Kid will be available for $28.96 SRP for the DVD, $34.95 for the Blu-ray and $38.96 for the Blu-ray Combo Pack.
Synopsis:
12 year old Dre Parker (Smith) could have been the most popular kid in Detroit, but his mother's (Henson) latest career move has landed them in Beijing, China. Dre immediately falls for his classmate Mei Ying the feeling is mutual but cultural differences make such a friendship impossible. Even worse, Dre's feelings make an enemy of the class bully, Cheng. In the land of kung fu, Dre knows only a little karate, and Cheng puts "the karate kid" on the floor with ease. Without any friends in a strange land, Dre has nowhere to turn until he meets maintenance man Mr. Han (Chan), who is secretly a master of kung fu. As Han teaches Dre that kung fu is not about punches and parries but maturity and calm, Dre realizes that facing down the bullies will be the fight of his life.

The Karate Kid DVD:
• Feature Film
• Interactive Feature: Chinese Lessons
• Just for Kicks: The Making of The Karate Kid
• Music Video: Justin Bieber's "Never Say Never," Featuring Jaden Smith

THE KARATE KID Blu-ray Combo Pack:

Disc 1 (Blu-ray Disc):
• Feature Film
• Interactive Feature: Chinese Lessons
• Just for Kicks: The Making of The Karate Kid
• Music Video: Justin Bieber's "Never Say Never," Featuring Jaden Smith
• Alternate Ending : Watch Jackie Chan Fight!
• Interactive Feature: On Location: The Karate Kid Interactive Map of China
• Interactive Feature: Chinese Lessons
• Production Diaries Hosted by Jackie Chan
• Music Video: Justin Bieber's "Never Say Never," Featuring Jaden Smith
• movieIQ+syncTM
• PS3 Wallpaper Theme
• Digital copy of the film for the PSP®

Disc 2 (DVD)*:
• Feature Film
• Digital copy of the film for the PC, Mac or iPod

*The DVD contained in the Combo Pack contains no special features.
*The Single Disc Blu-ray is loaded with all bonus features included on the Blu-ray in the Combo Pack, excluding the digital copy of the film.

 

Read more

SANTA MONICA, Calif., and VANCOUVER, British Columbia -- Lionsgate (NYSE: LGF), the leading next generation studio, today reported revenue of $326.6 million and adjusted EBITDA of negative $13.7 million for the first quarter of fiscal year 2011 (quarter ended June 30, 2010).

Revenue declined 14% compared to the prior year's first quarter due primarily to the deconsolidation of TV Guide Network revenue, timing of television deliveries, decline in Mandate Pictures revenue compared to a record quarter last year as well as a decline in home entertainment revenue attributable to the smaller theatrical slate in fiscal 2010.

The Company noted that its television business remains on track to exceed last year's $351 million in revenue and $39.5 million contribution before overhead for the full year. The Company's first quarter library revenue was consistent with the prior year's first quarter, and full year library revenue is expected to equal or surpass last year's record revenue and cash flow.

The Company reported adjusted EBITDA of negative $13.7 million in the first quarter compared to $53.4 million for the prior year first quarter. Net loss was $64.1 million in the quarter compared to net income of $36.3 million in the prior year's first quarter. The loss was attributable primarily to an increase of $71.2 million in theatrical marketing costs as the Company distributed three wide releases in the quarter compared to one wide release in the prior year's first quarter. Stock-based compensation increased $23.3 million in the first quarter, primarily reflecting accelerated vesting of restricted share units (RSU's), stock options and stock appreciation rights caused by the triggering of change of control provisions in senior management contracts. The quarter also included $7.3 million in corporate defense costs related to shareholder activist activities.

Basic net loss per common share for the quarter was $0.54 on 118.2 million weighted average common shares outstanding, compared to basic net income of $0.31 on 117.1 million weighted average common shares outstanding in the prior year's first quarter.

"Our first quarter was affected by marketing costs for our three wide releases, timing of television deliveries and the underperformance of our theatrical release Killers," said Lionsgate Co-Chairman and Chief Executive Officer Jon Feltheimer. "With our upcoming theatrical slate, beginning with this Friday's opening of The Expendables, and the continued strength of our television, library and channel businesses, we remain poised to achieve our full year financial targets."

Overall motion picture revenue for the first quarter of fiscal 2011 was unchanged from the first quarter of the prior year at $272.7 million. Within the motion picture segment, theatrical revenue was $71.3 million, an increase of 214% from the prior year's first quarter, as the Company's theatrical release slate of Tyler Perry's Why Did I Get Married Too?, Kick-Ass and Killers achieved significantly higher box office than the film slate in the first quarter of the prior year, which included one wide release, Crank 2: High Voltage.

Lionsgate's home entertainment revenue from both motion pictures and television was $117.1 million in the first quarter, a 22% decline from the first quarter of the prior year, reflecting a smaller fiscal 2010 theatrical slate. The home entertainment revenue from theatrical titles such as Daybreakers, From Paris with Love, The Spy Next Door and Brothers compared to revenue from the slate of Madea Goes to Jail, My Bloody Valentine 3-D, Transporter 3, New in Town and The Spirit in the prior year's first quarter. Daybreakers, From Paris with Love and The Spy Next Door all ranked among the industry's top six titles in terms of DVD-to-box office conversion rate in the quarter as Lionsgate, bolstered by its distribution agreement with Redbox, maintained its leadership in DVD-to-box office conversion.

Television included in motion picture revenue (primarily pay television) was $30.0 million in the first quarter, an increase of 46% from the prior year's first quarter, driven by a slate that included Precious, Brothers, Gamer, Tyler Perry's I Can Do Bad All by Myself and Rambo.

International motion picture revenue of $29.1 million (excluding Lionsgate U.K.) in the first quarter increased 66% from the prior year's first quarter. The slate of Kick-Ass, Killers, Brothers, Daybreakers and Saw VI compared favorably to the slate in the prior year's first quarter.

Lionsgate U.K. revenue also increased, growing 9% to $16.3 million, reflecting the strength of Lionsgate titles such as Brothers and Daybreakers and third-party titles such as the Academy Award(R)-winning The Hurt Locker.

Mandate Pictures' revenue of $13.3 million in the first quarter declined 75% from the prior year's first quarter, affected primarily by timing and a slate that compared to revenues from the prior year's record first quarter slate that included Drag Me to Hell, Juno and Passengers.

Television production revenue was $53.9 million, a 38% decline from the prior year's first quarter, attributable primarily to timing as deliveries of one episode of "Mad Men Season 4" and eight episodes of "Scream Queens Season 2" compared to deliveries of six episodes of "Weeds Season 5" and 12 episodes of "Nurse Jackie Season 1" in the prior year's first quarter.

However, within that total, Debmar-Mercury's revenue increased 55% to $31.8 million in the first quarter on increased revenue from "Tyler Perry's House of Payne," "Meet The Browns" and "The Wendy Williams Show."

Lionsgate's filmed entertainment backlog increased to $478.6 million at June 30, 2010, one of the highest totals in the Company's history. Filmed entertainment backlog represents the amount of future revenue not yet recorded from contracts for the licensing of films and television product for television exhibition and in international markets.

 

Read more

Subscribe to Articles Feed