By Lindsey Bahr, AP Film Writer
"Parasite" director Bong Joon Ho has been selected as jury president of the 78th Venice International Film Festival, organizers said Friday. The Oscar-winner will preside over seven jurors to hand out the festival's top awards, including the prestigious Golden Lion. He'll be the first South Korean to hold the post.
In a statement, the director said he is, "Honored to be woven into its beautiful cinematic tradition. As president of the jury — and more importantly as a perpetual cinephile — I'm ready to admire and applaud all the great films selected by the festival. I'm filled with genuine hope and excitement."
Festival director Alberto Barbera remarked upon the historic nature of the selection.
"We are immensely grateful to him for having agreed to put his passion as a cinephile attentive, inquisitive and unprejudiced, at the service of our festival," Barbera said. "The decision to entrust the Jury to a Korean filmmaker, for the first time in the festival's history, is also confirmation that the Venetian event embraces the cinema of the entire world, and that directors from every country know they can consider Venice their second home."
The Venice Film Festival was one of the only major film festivals to proceed in person last year amid the pandemic. The 78th edition is set to run from Sept. 1-11.
Ubisoft shares jump following reports of Tencent, Guillemot family considering buyout
Shares of Ubisoft jumped more than 30% Friday, following reports that Tencent and the Guillemot family are considering a buyout of the video game maker.
Bloomberg news reported that Tencent and Guillemot family — minority stakeholders in Ubisoft — have been discussing ways to stabilize the company after it lost more than half its market value this year. Shares surged 33.5% to about $15.57 Friday, according to FactSet.
Ubisoft declined to comment. Tencent did not immediately respond to a request for comment.
France-based Ubisoft is the publisher behind the well-known franchise "Assassin's Creed." Ubisoft's shares fell last month to their lowest point in more than a decade after its latest title "Star Wars Outlaws" underperformed and the company announced that it would delay the latest "Assassin's Creed" game.
Yves Guillemot, Ubisoft's CEO, said in a statement last week that the company's "second quarter performance fell short of our expectations."
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