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Other Developments
A curated list of other prominent stories from this day.
3:15 PMVariety
Tony Gilroy Says Paramount-Warner Bros. Merger Will ‘Destroy’ a ‘Healthy and Beautiful Business’ in ‘The Name of Venture Capital’: ‘It’s Tragic’
Summary
Tony Gilroy called the proposed Paramount-Warner Bros. merger tragic, arguing that it would damage the film business in pursuit of venture-capital returns. He pointed to his $36 million film, "Behemoth!", as an example of the mid-budget, adult-oriented movies that once supported theatrical filmmaking careers.
The key risk is further consolidation of financing and distribution around blockbuster economics, leaving fewer
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Why it matters
The deal could accelerate Hollywood's shift away from the mid-budget theatrical films that support creative risk and filmmaker development.
Skydance Blasts Off: Can David Ellison Make Paramount-Warner Bros. Merger Fly?
Summary
David Ellison has prevailed in assembling a larger entertainment company and is naming it Skydance Corp., reviving the name of his original production company. The strategy follows Skydance’s absorption of two major Hollywood studios in 14 months and faces the challenge of proving the combination can work.
The deal’s completion shifts the central question from whether Ellison can acquire major studios to
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Why it matters
Hollywood now has a newly consolidated power center whose success will test whether aggressive studio rollups can create value.
Chicago artist Theaster Gates is taking on an unexpected new project: buying Pickard China, the last remaining maker of fine china in the United States. The move brings his art practice into the world of manufacturing, craft and industrial preservation.
Gates has long treated overlooked buildings, materials and traditions as raw creative material. Fine china
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Why it matters
The deal could help preserve a rare piece of American craft while expanding what an artist's career can include.