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News: General

Studios and Outside Financiers Hit Rough Patch

Monday, July 24, 2017   (0 Comments)
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From The Hollywood Reporter:

At the stroke of midnight on July 18, the slate financing deal between Sony Pictures and LStar Capital came to an unceremonious and premature end when LStar didn't send in the money covering its 25 percent investment, amounting to $12.5 million, in The Emoji Movie, which opens July 28.

It was just the latest crack-up in the ongoing, and often contentious, relationship between outside money and Hollywood. All the major studios — except for Disney — rely on third-party money to partially bankroll many of their movies, especially big-budget projects. But as the box office serves up an increasing number of misses, some key investors are retreating altogether, like LStar, or finding themselves in financial straits, as is the case with Village Roadshow Pictures. China is an expanding source of financing, but as the Chinese government puts a hold on money leaving the country, studios — like Paramount, which has been counting on a $1 billion slate deal — could be left in the lurch.

- Read the full article at HollywoodReporter.com


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