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    Netflix lands “Knives Out” sequels in high-priced deal

    By SHOOTUpdated:No Comments1370 Views
    Daniel Craig attends the "Knives Out" photo call on Nov. 15, 2019, in Los Angeles. Netflix said Wednesday, March 31, 2021, it has reached a deal for two sequels to Rian Johnson's acclaimed 2019 whodunit, "Knives Out." Johnson will direct with Daniel Craig returning as inspector Benoit Blanc. (Photo by Jordan Strauss/Invision/AP, File)
    NEW YORK (AP) --

    Detective Benoit Blanc's next cases will be for Netflix. The streaming company said Wednesday it has reached a deal for two sequels to Rian Johnson's acclaimed 2019 whodunit, "Knives Out." 

    Netflix declined to say how much it was paying for the films, which Johnson will direct with Daniel Craig returning as inspector Benoit Blanc. But Deadline, which first reported the deal, said the price would approach $450 million — making it one of Netflix's largest — and most sweater-clad — acquisitions. 

    It also lands Netflix something it has dearly sought: the kind of major film franchises that traditional studios have long depended on. Production on the second "Knives Out," written by Johnson and produced by him and Ram Bergman, is to begin this summer. 

    Netflix outbid several other streaming services to land "Knives Out," something that was even possible because the 2019 film was produced by Media Rights Cable and distributed by Lionsgate on a single-picture deal. Made for $40 million, "Knives Out" grossed $311.4 million in worldwide ticket sales and landed Johnson an Academy Award nomination for best original screenplay.

    Tags:Knives OutNetflix



    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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