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    Chastain’s female-led spy film “355” sells to Universal at Cannes

    By SHOOTUpdated:No Comments2430 Views
    Actresses Fan Bingbing, from left, Marion Cotillard, Jessica Chastain, Penelope Cruz and Lupita Nyong'o pose for photographers during a photo call for the film '355' at the 71st international film festival, Cannes, southern France, Thursday, May 10, 2018. (Photo by Vianney Le Caer/Invision/AP)
    CANNES, France (AP) --

    In one of the biggest sales of the Cannes Film Festival, Universal Pictures has acquired the female-led spy thriller "355," which Jessica Chastain has promoted as an antidote to male-centered action films.

    Universal on Saturday closed the sale of the highly touted project. Earlier this week, Chastain and co-stars Penelope Cruz, Marion Cotillard, Lupita Nyong'o and Fan Bingbing posed for photographers and pitched the film to potential buyers.

    Simon Kinberg, director of the upcoming X-Men film "Dark Phoenix," in which Chastain co-stars, is slated to direct the film. With an approximate budget of $75 million, "355" was one of the highest-profile projects up for sale in Cannes, the world's largest film market.

    Deadline first reported the deal.

    Tags:355Cannes Film FestivalJessica ChastainUniversal Pictures



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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