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    “The Interview” on track to break digital release record

    By SHOOTUpdated:No Comments579 Views
    This photo released by Sony - Columbia Pictures shows James Franco, left, as Dave and Seth Rogen as Aaron in a scene from Columbia Pictures' "The Interview." (AP Photo/Sony - Columbia Pictures, Ed Araquel)
    NEW YORK (AP) --

    Digital sales for "The Interview" are up to $40 million, putting the release on track to eclipse "Bridesmaids" as the biggest online release.

    In a statement Tuesday, Sony Pictures chief executive Michael Lynton called the total "a significant milestone." The film has been playing on a variety of online and on-demand platforms. It has also added $6 million in box office sales, playing in select independent theaters.

    In early 2012, "Bridesmaids" set the previous record for digital release with $40 million in sales.

    While record-breaking, the digital release of "The Interview" means Sony will struggle to break even on the $40 million-plus film, whose national release was canceled amid a diplomatic dispute with North Korea.

    Receipts are split with distributors, and marketing would have cost around $25 million.

    Tags:Sony Pictures EntertainmentThe Interview



    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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