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George Clooney Tries to Save Hollywood
Posted on 8/2/13 at 9:07 pm
Posted on 8/2/13 at 9:07 pm
Solid article on how a hedge fund head is affecting (or looking to affect) how Sony goes about financing its films.
Long story short, this guy is using poor box office results for a number of summer films (Clooney says After Earth and White House Down) as a way to scare Sony into only financing tentpoles going forward. Another way, he's telling Sony that it would be fiscally irresponsible to fund smaller-budgeted films, like those Clooney has come to act and direct in in recent years.
For those of you who want to check it out: LINK
Long story short, this guy is using poor box office results for a number of summer films (Clooney says After Earth and White House Down) as a way to scare Sony into only financing tentpoles going forward. Another way, he's telling Sony that it would be fiscally irresponsible to fund smaller-budgeted films, like those Clooney has come to act and direct in in recent years.
For those of you who want to check it out: LINK
5
Posted on 8/2/13 at 9:13 pm to TotesMcGotes
dude owns his own spy satellite. he can do no wrong in my eyes.
Posted on 8/2/13 at 9:17 pm to TotesMcGotes
Was just about to post this.
Interesting stuff.
Interesting stuff.
Posted on 8/2/13 at 9:21 pm to LuckySo-n-So
There's a lot more in the article that I found interesting, particularly the part about how Clooney & Soderbergh finance a significant portion of their own films to take their pay on the back end. Obviously this isn't new, but it's an interesting gamble. Clooney said Soderbergh's given up a ton of money to get the actors he wants and finally cashed in huge with Magic Mike, which was his biggest payday in his career.
Posted on 8/2/13 at 9:25 pm to TotesMcGotes
liked him in where art thou
Posted on 8/2/13 at 9:27 pm to Jazzbass13
Yea he was great in that, and he's arguing that it never would have been made if studios move in the direction this hedge fund head is advising them to.
Posted on 8/2/13 at 9:34 pm to TotesMcGotes
Interesting read. Thanks for the post. 
I didn't realize he had been taking his pay on the back end for that long. That's right around 15 years I think.
I didn't realize he had been taking his pay on the back end for that long. That's right around 15 years I think.
Posted on 8/3/13 at 9:34 am to BluegrassBelle
Bump for the morning crowd.
Posted on 8/3/13 at 9:51 am to TotesMcGotes
The manager's argument doesn't make sense. The 2 failures were conventional big budget flops, not creative small budget flops. After earth was the safe formula of will smith + scifi/aliens + money = box office success.
Posted on 8/3/13 at 10:29 am to Qwerty
He's not saying that tentpoles will always be successful. He's saying that financing small budget films is fiscally irresponsible.
Posted on 8/3/13 at 12:32 pm to TotesMcGotes
quote:
He's not saying that tentpoles will always be successful. He's saying that financing small budget films is fiscally irresponsible.
I understand that, but the article made it sound like the failure of two big budget tent pole movies was what prompted the hedge fund guy to call for big changes.
It doesn't make sense anyway because there are tons of smaller budget films that have recently made a big profit, considering the investment.
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