Davis Guggenheim has decided against directing the project.

Source: Deadline.com

Justin Bieber will star in a biopic about his own life for Paramount and director David Guggenheim (An Inconvenient Truth). The 3D project will also feature concert footage of the teen sensation, and it is set to hit theaters in time for Valentine's Day on February 11, 2011. 

Now that Miley Cyrus and Zac Efron are chasing mature, dramatic roles, the market is wide open for a new teen sensation. The only surprising thing about Bieber's jump to movies is that it will be directed by Guggenheim, who is best known for socially conscious documentaries.

Beiber won't be the first person to play himself in a biopic. Howard Stern, who could be considered a polar opposite to the young singer, pulled it off quite well in Private Parts

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NEW YORK, NY --– News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today reported full year total segment operating income of $4.0 billion, a $401 million or an 11% increase from the $3.6 billion reported a year ago. Excluding the one-time $500 million litigation charge from the current year and considering the absence of the $121 million earnings contributions from NDS Group plc (“NDS”), which was not consolidated in fiscal 2010, total segment operating income growth was 30%.

Current year revenues of $32.8 billion increased 8% from the $30.4 billion reported in fiscal 2009. The higher full year total segment operating income was the result of double digit growth at the majority of the Company’s business segments, partially offset by lower contributions from the Direct Broadcast Satellite Television and Other segments.

The Company reported net income for the full year of $2.5 billion ($0.97 per share) as compared to a net loss of $3.4 billion ($1.29 per share)  reported in fiscal 2009. The full year results primarily reflect the increased total segment operating income results noted above as well as improved equity earnings of affiliates. Additionally, the prior year results included $9.2 billion in pre-tax impairment and other charges partially offset by a non-cash tax benefit of $1.1 billion from the resolution of various tax matters and a net gain of $1.2 billion on the partial sale of the Company’s interest in NDS.

For the fourth quarter, the Company reported total segment operating income of $932 million, compared with $948 million reported a year ago. This slight decline was primarily driven by increased contributions from the Cable Network Programming, Television and Newspapers and Information Services segments, which were more than offset by lower contributions from the remaining business segments.

The Company reported fourth quarter net income of $875 million ($0.33 per share) as compared to a net loss of $203 million ($0.08 per share) reported in the fourth quarter a year ago. Fourth quarter results include a gain on the sale of the Company’s Bulgarian TV station, the Company’s share of a favorable British Sky Broadcasting Group plc (“BSkyB”) litigation settlement and a non-cash tax benefit related to the recognition of
certain prior year tax credits. The positive impact from these items was partially offset by an impairment and restructuring charge of $217 million related to the Company’s international outdoor and mobile businesses. The fourth quarter a year ago included $680 million in impairment and restructuring charges.

Commenting on the results, Chairman and Chief Executive Officer Rupert Murdoch said: "“I am very pleased with the overall 30% increase, which is more than three times the growth we were projecting when we started the fiscal year. “Despite the volatility of world economies, News Corporation continues to thrive on a truly global scale. Having the biggest worldwide movie in history helped us achieve these Fiscal 2010 results, but that was just a part of a much broader improvement at News Corporation. These results underscore just how well positioned we are – fiscally,
operationally and strategically – for further growth across all of our markets. The opportunity for us to expand the scale of our franchises is significant, including through taking advantage of the continual technological advances that will broaden the reach of our core content and distribution businesses. “So as we turn to Fiscal 2011 and beyond, I am confident in our businesses and in our people to deliver superior results.”"

Filmed Entertainment

Filmed Entertainment reported fourth quarter segment operating income of $137 million, as compared to the $203 million reported for the same period a year ago. The decline was primarily due to lower contributions from worldwide theatrical releases as compared to the prior year, which included Night at the Museum: Battle of the Smithsonian and X-Men Origins: Wolverine. In addition, the fourth quarter included lower pay and free TV revenues due to timing. The decline in the quarter was partially offset by an increase in worldwide home entertainment revenues, primarily due to the DVD sales of Avatar, which is the best selling Blu-Ray title of all-time.

For the full year, segment operating income increased to a record $1.3 billion, from $848 million reported in fiscal 2009. This growth was driven by the blockbuster worldwide theatrical and home entertainment performances of Avatar and Ice Age: Dawn of the Dinosaurs and several other successful theatrical releases.

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Source: THR

Disney must be impressed with Joseph Kosinski's work on TRON Legacy, because they've hired him to direct Oblivion. The project focuses on a future in which Earth's population lives above the clouds.

TRON Legacy is set to hit theaters on December 17, when it will open against Yogi Bear. Both films will be released in 3D.

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NEW YORK - It was announced today that Frederick Huntsberry, Chief Operating Officer, Paramount Pictures, will deliver the Keynote Address on Monday afternoon, October 11th at ShowEast 2010. Huntsberry's keynote will focus on the issue of piracy and its detrimental effect on the cinema exhibition industry, and what should be done to thwart it.

Frederick Huntsberry was named Chief Operating Officer, Paramount Pictures in July 2006. He is responsible for worldwide strategic planning and operations for the studio including finance, IT, human resources, industrial relations, studio operations, sourcing, community and government relations and the office of the general counsel. Prior to Paramount, Huntsberry was President, NBC Universal International, where he provided
strategic direction for new business development growth opportunities, as well operational oversight for international TV distribution and global networks.

Before that, Huntsberry was President, NBC Universal Television Distribution & Universal Pictures Group International Operations. In his role as President, NBC Universal Television Distribution, he oversaw all U.S. first-run syndication and domestic and international television distribution sales activities. As President of Universal Pictures International Operations, Huntsberry contributed to the oversight of numerous international operating divisions of Universal Pictures, including theatrical distribution, home entertainment, and related business development/strategic  planning activities.

From 2002 to 2004, Huntsberry was Executive Vice President and Chief Financial Officer, Vivendi Universal Entertainment. He was formerly responsible for all worldwide financial activities, which included Universal Pictures, Universal Television, Universal Operations and Universal Parks & Resorts. Huntsberry was instrumental in the sale of Vivendi Universal Entertainment to General Electric, in May of 2004.

From 1999 to 2002, he served as Senior Vice President, Chief Financial Officer, Universal Pictures and represented Universal on the operating committees of Universal International Pictures and United Cinemas International.

From 1997 to 1999, he served as Senior Vice President & Chief Financial Officer of Universal Television & Networks Group, with responsibility for all finance and administrative activities for Universal's television businesses.

Huntsberry joined Universal in January 1997 as Vice President, Television Business Development, where he led strategic planning and financial operations for the group. Prior to joining Universal, Huntsberry was Manager, Mergers and Acquisitions Europe for General Electric, where he worked for over 12 years. During this time, he held a broad range of finance and business development positions in a broad array of industries including medical systems, plastics, industrial systems, and information services. He is a graduate of GE's Financial Management program.

ShowEast 2010 will take place from October 11-14, 2010 at the Orlando World Center Marriott. It will feature numerous screenings of upcoming major films, sponsored events, timely and informative seminars and the ShowEast Trade Show. An estimated 1,200 members of the motion picture industry are expected to attend. ShowEast, now in its 26th year, is produced by e5 Global Media.

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inceptionnews2.png

The official gross from Warner Bros. is $201,725,628 as of Tuesday.

It took Christopher Nolan's mind-bender only 17 days to hit the $200 million mark. The estimate from Warner Bros. is that the film's domestic cume is currently sitting pretty at $201.7 million. An updated number will be released this afternoon.

Inception has been #1 at the North American box office for the past three weekends, and that's not an easy thing to accomplish during the competitive summer season. However, it will almost certainly be dethroned by The Other Guys this coming weekend.

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