Independent movie studio The Weinstein Co. has restructured its debt by temporarily giving the rights to 200 movies and about $233 million in receivables on those films to Goldman Sachs and its partner Assured Guaranty, according to a person familiar with the matter.
The person spoke on condition of anonymity because the matter was meant to be confidential.
Under the deal finalized this week Goldman Sachs and Assured will be paid $115 million by Ambac Financial Group, which had initially insured Goldman Sachs' loan to the company.
The Weinstein Co. was weighed down by interest payments on about $500 million in debt. The deal frees the company of that debt while giving it the use of a new credit line for $100 million from Goldman Sachs to produce new movies, according to the person.
Al Gore, the world's pre-eminent environmentalist, has embarked on his toughest recycling challenge: his own cable channel.
For much of the past year, Current TV has been quietly undergoing an overhaul that will change just about everything but the struggling channel's name. Current declined comment for this story.
It's a revitalization project Gore & Co. embarked on after exhausting a more lucrative possibility: selling the channel. Current's founding partner, Joel Hyatt, spent much of 2009 shopping the network with a price tag that wildly overestimated the company's worth, confirmed sources at several conglomerates. Current even had extensive sale talks as far back as 2007 with Google, where Gore serves as a senior advisor.
Missy Peregrym, the star of ABC's new cop drama "Rookie Blue," says there are many times she's considered walking away from the business.
"I've threatened to quit this so many times," she says.
The challenge, she says, is being an actress and deciding what roles to take or not, and not always having to fall back on sexy to succeed.
"I can't sell myself to Maxim," she says, "and turn and tell a young girl you don't have to dress that way to make it."
Peregrym started out as a model, and her swimsuit shots have found many fans online.
In the movies at least, French women tend to both say less and wear less than their American counterparts. They walk alone in Paris streets like Jeanne Moreau, or along deserted beaches like Brigitte Bardot. They’re more often temptresses than girls next door. Jean-Luc Godard said that all one needs to make a film is a gun and a girl. But with the 10 actresses listed here, no need for a gun—they’re fatale enough on their own.
In an otherwise predictable presentation supporting the federal government's plan to combat piracy, Warner Bros. Entertainment Chief Executive Barry Meyer let slip remarks that are likely to further inflame major theater circuits.
Meyer, who was speaking at a Senate Judiciary Committee hearing in Washington on Wednesday, said Warner Bros. is at the "forefront of modifying the traditional distribution windows."
Translating the corporate-speak into plain English, that means viewers will get a chance to watch movies in their home before they are available through Netflix or Blockbuster.
Eddie Cibrian will not return to CSI: Miami next season, says a source who asked to be identified as close to the set.
The CBS procedural has opted to not pick up his contract, citing a creative decision to focus on the original core team, according to the source.
The 37—year-old actor joined CSI: Miami last year to fill in for departed castmate Adam Rodriguez. However, after appearing in a handful of episodes over the season, Rodriguez signed a new contract to return to the series full time next fall.
Despite Rodriguez's return, Cibrian sounded positive about his future on the series despite his character's (Jesse Cardoza) questionably ethical actions late in the season.
"Knight and Day" introduces us to an exciting new talent: Tom Cruise.
Sure, we know Tom Cruise after his three decades in the business. We know way too much about Tom Cruise, actually, thanks to his well-documented off-screen antics the past few years.
"Knight and Day" is a refreshing reminder, though, of why he is a superstar: He has that undeniable charisma about him and he really can act, something for which he doesn't always get the credit he deserves.
"Footloose," the 1984 film about dancing teens, launched Kevin Bacon's career. Will the remake do the same for Kenny Wormald?
The film's producers had been looking for the right actor to fill Bacon's sizable shoes for some time. Several high-profile stars had been rumored for the role, including Zac Efron (dropped out, didn't want to be typecast) and Chace Crawford (also dropped out, scheduling conflict). In the end, an unknown got the job.
Entertainment Weekly explains that Wormald won the coveted role of Ren, a rebellious teen who challenges a small town's ban on dancing, the hard way: by auditioning against "thousands of other hopefuls in a worldwide search." The news that he'd won inspired an avalanche of searches on "kenny wormald" and "kenny wormald footloose." Clearly, folks want to know more about the new star.
Parents who want to take their kids to see Toy Story 3 are well advised to consider a few things about the new Pixar sequel. Questions like 'Is it loud or scary?' or 'How's the animation?'. Worthy questions to factor when taking the kids to the theaters.
In the next "Pirates of the Caribbean," Johnny Depp's seafaring character Jack Sparrow will face a woman from his past and board another buccaneer's ship, the studio behind the film said on Monday.
The Walt Disney Co revealed those story elements for the new film as it announced that production has started.
"Pirates of the Caribbean: On Stranger Tides" is the fourth movie in the franchise, which to date has earned more than $1 billion at U.S. and Canada box offices. It will hit theaters in 3-D on May 20, 2011.
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