Category: Entertainment

  • AMC Theatres Attendance Drops 10%, Quarterly Revenues Fall

    AMC Theatres Attendance Drops 10%, Quarterly Revenues Fall

    “Avatar: Fire & Ash,” “Wicked: For Good” and “Zootopia 2” may have dominated the holiday box office, but they weren’t enough to lift AMC Theatres‘ quarterly earnings. The world’s largest exhibitor reported that revenues for the three-month period ending in December topped out at $1.28 billion, down 1.4% from the $1.3 billion it recorded a year earlier. More troubling, attendance dropped nearly 10% as the collection of year-end blockbusters failed to pack ’em in at the same rate. AMC hosted 56.3 million patrons compared to the 62.4 million it welcomed in the year-ago period.

    Losses did shrink for AMC. The company’s net loss was $127.4 million, compared to the $135.6 million in losses from a year earlier. It logged a diluted loss per-share of 25 cents, having reported a loss of 35 cents in the prior-year quarter.

    AMC’s food and beverage revenue hit $436.5 million, down slightly from the $446.2 million in concessions it sold in the same period in 2024. Admissions revenue came in at $701.6 million, a drop from the $721.4 million in ticket sales that AMC rang up in the year-ago quarter.

    During the quarter, AMC, which remains heavily leveraged, converted the majority of its equity investment in Hycroft Mining Holding Corporation, a gold and silver exploration company, into approximately $24.1 million in cash. It said the amount was “approximately equal” to the capital it initially invested in the transferred securities.

    AMC hosts its earnings call for investors and analysts on Tuesday. Adam Aron, its CEO, released a statement to accompany the earnings report in which he predicted that 2026’s lineup of potential blockbusters, which includes Christopher Nolan’s “The Odyssey” and “Avengers: Doomsday,” will outgross the roster of 2025 hits.

    “AMC is exceptionally well positioned to capitalize on a recovering box office,” Aron said. “And as I have said many times before, the not-so-secret formula to a full box‑office recovery is straight forward, we need more great movies from our studio partners.”

  • BBC Greenlights Three New Dramas, Including Tudor-Set ‘1536,’ ‘Shy & Lola’ With Hayley Squires, Bel Powley

    The BBC has unveiled three new dramas coming to our screens in due course, including Shy & Lola with Hayley Squires and Bel Powley.

    Shy & Lola, a new six-part drama for BBC iPlayer and BBC One, is written by award-winning screenwriter and novelist Amanda Coe (Apple Tree Yard, The Trial of Christine Keeler) and produced by multi-BAFTA and Emmy award-winning Clerkenwell Films (Baby Reindeer, The Death of Bunny Munro, The End of the F***ing World), part of BBC Studios.

    The darkly comic story follows Shy and Lola, two very different women who are forced to become allies when a murder entangles them in the criminal underworld operating in Shy’s small coastal town in the North of England. Squires (The Night ManagerI, Daniel Blake) stars as Shy, a cleaner scraping by and dreaming of a new life in Portugal, with Powley (A Small Light, The Diary of a Teenage Girl) playing Lola, an ex-model-turned-grifter who arrives in town with trouble at her heels.

    Filming on the show, based on the French television drama Cheyenne and Lola, will begin this spring in and around the U.K. cities of Hull and Leeds.

    Also announced on Monday is D-Notice from writers and executive producers Adam Patterson and Declan Lawn. The six-part British political thriller is set in the world of investigative journalism. Patterson and Lawn are said to “have some experience of” the D-notice mechanism, which allows the government to advise journalists about national security. Now, they’ve come up with a drama that looks at how truth and power speak to one another. It is their third project for the BBC, following The Salisbury Poisonings and Blue Lights, and their first commission from production company Hot Sauce Pictures, backed by Sony Pictures Television.

    The BBC has also commissioned 1536, a new drama series for BBC iPlayer and BBC One, based on Ava Pickett’s play of the same name. The eight-part show written by Pickett from Drama Republic (Riot Women, One Day) is set in the heart of Tudor England against the backdrop of Anne Boleyn’s arrest and weaves royal scandal with rural struggle.

    1536 centers around Anna, Mariella, and Jane: three young women gossiping, arguing, and dreaming in an Essex village, desperately waiting for their lives to start. When the news reaches them that King Henry VIII has had his Queen, Anne Boleyn, arrested, the three of them never suspect that this act will change their lives forever.

    Pickett said: “1536 is something I am immensely proud of and I feel so lucky and privileged to have the chance to bring Anna, Jane and Mariella to a wider audience and to build out their lives even more. In a world where every decision made in the corridors of power ricochets through all of our lives, this story feels more relevant than ever. I’m so grateful to Lindsay Salt for being such a champion of it from the start.”

    Lindsay Salt, Director of BBC Drama, added: “From the moment we saw Ava’s play we knew that we had to have the TV version on the BBC. Visceral, funny, provocative, timely and full of courage, this is a piece of work like no other. Ava is an exceptional voice, so we feel very lucky to be working with her and the brilliant team at Drama Republic to bring three iconic female characters to the screen.”

    Executive producers are Jude Liknaitzky, Roanna Benn, Rebecca de Souza, Chloe Beeson and Pickett. The series was commissioned by Salt.

  • BBC Studios Chiefs on Mega-Mergers, Own M&A, Trump Tariffs, U.S. Streaming Growth, and the ‘Bluey’ Movie

    BBC Studios Chiefs on Mega-Mergers, Own M&A, Trump Tariffs, U.S. Streaming Growth, and the ‘Bluey’ Movie

    BBC Studios CEO Tom Fussell and Zai Bennett, CEO and chief creative officer of BBC Studios Productions, discussed tariff talk by U.S. President Donald Trump, mega-consolidation, including the planned Netflix-Warner Bros. Discovery deal, the growth of the company’s U.S. streaming business, and the Bluey movie.

    They spoke to the press on the first day of the 50th annual BBC Studios Showcase in London. BBC Studios, the commercial arm of British broadcaster BBC, is known for such hit franchises as animated powerhouse Bluey, Netflix’s Baby Reindeer, legal drama The Split and its upcoming spin-off The Split Up, and such natural science hits as Walking With Dinosaurs, and it recently unveiled new shows to mark broadcaster and naturalist David Attenborough’s 100th birthday on May 8.

    “We have seen no impact” from Trump tariff talk, Fussell said when asked about any possible fallout, also lauding the continuing popularity of BBC News in the U.S. He didn’t discuss Trump’s lawsuit against BBC News, simply touting the resilience of the BBC brand and saying “we are not seeing any changes.”

    Asked about Netflix-WBD, he said “we are well diversified, and obviously, you can only control what you can control, so you focus on your priorities, and our priority is carrying the transformation and the growth in the areas we’ve got.” He emphasized though that “no doubt, … people have talked about challenging markets and the rest of it, and our view going forward is that the market growth is not going to be anything like what it had been in the [past] five years.”

    Continued Fussell: “And when you start seeing rumors upon rumors about takeovers and consolidation, that normally is testament to the fact there aren’t huge amounts of growth in the market, because everyone’s looking for … synergies. But we know what we’re doing. We know where we want to be investing in our global expansion of our studio.”

    In that context, he also highlighted that BBC Studios was “a growing business that’s transforming,” with revenue up 55.7 percent over the last four years.

    Following TV market challenges, Bennett on Monday suggested that “there are definitely green shoots of recovery,” sharing that “Paramount is back in the market, spending money,” among other things. But he reiterated that things are “definitely not” expected to return to the highs of the past five years but play out in a new normal range.

    Fussell suggested though that he felt the business would be “talking about striving again,” from scripted to unscripted and, vitally, kids programming.

    Mentioning the 2019 BBC Studios deal with what was then Discovery to take full control of UKTV’s entertainment channels, including Dave, Gold, and Drama, as well as a 2024 deal with ITV that gave the company full control of streamer BritBox International, Fussell also signaled that BBC Studios could also strike more acquisitions of its own. He said it would “carry on investing organically and maybe inorganically.”

    Bennett, who started his role in late 2024, similarly noted that BBC Studios Productions is seeing “solid organic growth and investment” and “looking for inorganic growth in some territories,” mentioning the rest of Europe, the Middle East and Africa as one possible region for deals.

    Fussell added that there “are opportunities for inorganic growth in streaming across the genres,” adding: “I think we have a right, as the home of British streaming, to grow that even further.” But he emphasized that “these opportunities take time,” concluding: “We are very judicious with how we spend that investment.”

    Fussell on Monday also touted the success of streaming services BritBox and BBC Select, which focuses on documentaries, in North America. “Last week was the fifth birthday of BBC Select, and BBC Select is now the third-largest factual SVOD in the States, and we’re really proud of that,” he said. He also touted the growth of BritBox and its launch of a premium tier.

    Among content trends, Bennett was asked about the growth of microdramas, saying that “we’re looking at that right now” and signaling the company could talk about this space more in the coming months. He added: “We’re certainly experimenting.”

    Questioned about audience and buyer appetite, he sees for escapist content versus programming dealing with the world’s cultural and political divisions, Bennett said BBC Studios Productions looks at market needs and is “leaning into specificity and Britishness” more than anything else.

    Current and old content favorites also drew reporter questions on Monday. Could motoring show Top Gear return to U.K. screens? Replied Bennett: “Never say never.”

    Of course, the upcoming Bluey: The Movie was also a talking point. Fussell shared that he just visited creator Joe Brumm in his studio in Brisbane, calling the experience “an absolute pleasure,” and saying that the work on the film was going well. But “I can’t say anything” more, he emphasized. And Bennett shared: “We’ve seen bits of it, and it looks amazing.”

  • AMC Theatres Grapples With Nearly 10 Percent Attendance Drop In Latest Quarter

    AMC Theatres Grapples With Nearly 10 Percent Attendance Drop In Latest Quarter

    AMC Entertainment Holdings has seen its fourth-quarter net loss edge down on lower overall revenues as it hopes for stronger Hollywood box office this year.

    On Monday, the debt-laden parent of AMC Theatres reported overall revenues at $1.28 billion, down 1.4 percent against a year-earlier $1.3 billion. That came as total attendance at its domestic and international theaters fell nearly 10 percent to 56.3 million patrons during the latest quarter.

    U.S. markets attendance was off 7.5 percent to 39.7 million filmgoers, while international attendance was off nearly 15 percent at 16.5 million ticket buyers after a roller coaster ride for Hollywood box office in 2025.

    AMC Theatres’ net loss for its most recent financial quarter was $127.4 million, against a year-earlier loss of $135.6 million, or a diluted loss per-share of 25 cents, compared to a loss of 35 cents per-share in the same period of 2024. During the latest quarter, admissions revenue came in at $701.6 million, against a year-earlier $721.4 million, while food and beverage revenue was also down at $436.5 million, compared to $446.2 million in the same period of 2024.

    AMC is riding a premium screen gold rush at the local multiplex by offering varied immersive auditoriums like Imax, Dolby Cinema, iSense, XL and laser projection-equipped screens. AMC Theatres CEO Adam Aron in remarks that accompanied his latest financial results anticipated better Hollywood box office anticipated in 2026.

    “Looking ahead, our studio partners are poised to deliver on their commitment to release more titles in 2026 and beyond, and this makes us increasingly optimistic. Encouragingly, the January North American box office was approximately 16 percent ahead of the same period last year, and the European box office growth has been even more significant,” he argued.

    Also Monday, parent AMC Entertainment Holdings said a subsidiary, Muvico LLC, had launched an offering of $1.73 billion in first lien notes due 2031 as part of ongoing debt refinancing efforts. The company also recently announced it had struck an agreement to sell up to $150 million of class A common stock to address its high debt load coming out of the pandemic.

    AMC Theatres will hold its Q4 analyst call on Tuesday after the market close.

  • Winona Ryder Joins ‘Wednesday’ Season 3, Reuniting With Jenna Ortega and Tim Burton

    Winona Ryder Joins ‘Wednesday’ Season 3, Reuniting With Jenna Ortega and Tim Burton

    Winona Ryder has booked a guest star role in “Wednesday” Season 3, Variety has learned.

    The role means a “Beetlejuice, Beetlejuice” reunion is set for the hit show’s third season. “Wednesday” star Jenna Ortega played Ryder’s daughter in the film, while Ryder’s longtime collaborator Tim Burton directed the film and continues to direct and executive produce “Wednesday.” Meanwhile, “Wednesday” creators and showrunners Al Gough and Miles Millar wrote the screenplay for “Beetlejuice, Beetlejuice.”

    “I am so happy that Winona has joined us, she fits right into this world,” “Wednesday” director and executive producer Burton said in a statement. “And she’s a dear friend. I always feel lucky to work with her.”

    The role marks a swift return to Netflix for Ryder, who recently starred in the fifth and final season of “Stranger Things,” having originally joined that show in 2016. Exact details on who she will play in “Wednesday” are being kept under wraps.

    “When it comes to Outcasts, Winona Ryder is the GOAT,” said Gough & Millar. “Her legendary partnership with Tim Burton has defined some of cinema’s most unforgettable characters. We loved collaborating with her on ‘Beetlejuice Beetlejuice’ and couldn’t be more thrilled to welcome her to Nevermore.”

    Ryder is the latest new cast member announced for Season 3 of the show, following the news that Eva Green would portray Morticia Addams’ sister Ophelia.

    Ryder famously starred in the original “Beetlejuice” in 1988 before returning for the long-awaited sequel in 2024. She and Burton also worked together on the critically-acclaimed feature “Edward Scissorhands” as well as the 2012 animated movie “Frankenweenie.” Ryder is a two-time Oscar nominee — one for best supporting actress for “The Age of Innocence” and another for best actress for “Little Women.” Aside from “Stranger Things,” her other TV roles include “The Plot Against America” and “Show Me a Hero.”

    She is repped by WME, Anonymous Content, and Hirsch Wallerstein.

    Aside from Ortega, the cast of “Wednesday” includes: Emma Myers, Hunter Doohan, Joy Sunday, Moosa Mostafa, Georgie Farmer, Isaac Ordonez, Billie Piper, Luyanda Unati Lewis-Nyawo, Victor Dorobantu, Evie Templeton, with Luis Guzmán, Catherine Zeta-Jones, Joanna Lumley, and Fred Armisen.

    The show is based on characters created by Charles Addams. Gough, Millar, and Burton are all executive producers. MGM Television is the studio.

    “Wednesday” Season 2 was released in two parts in August and September 2025. Like the first season, the second went on to become a massive hit for Netflix, where it currently ranks as the streamer’s fifth most-watched English language season of TV ever. Season 1 is the most-watched season ever.

  • Sarah Turney, Kourtney Nichole Launch ‘The Final Hours’ True-Crime Podcast From PAVE Studios to ‘Shine a Light on the Cases That Deserve a Second Look’

    Sarah Turney, Kourtney Nichole Launch ‘The Final Hours’ True-Crime Podcast From PAVE Studios to ‘Shine a Light on the Cases That Deserve a Second Look’

    Sarah Turney and Kourtney Nichole have teamed for “The Final Hours,” a new true-crime podcast that closely examines clues from the last few hours before someone goes missing — an effort, they say, to give unsolved cases the attention they deserve.

    The weekly podcast comes from PAVE Studios under its Crime House banner. “The Final Hours” premieres on Monday (Feb. 23) across all major podcast platforms. New episodes will release every Monday.

    For Turney (above left), the subject matter hits close to home: Her sister, Alissa Turney, went missing in 2001 in Arizona, and Sarah has become an advocate for trying to locate missing people through her “Voices for Justice” podcast. Nichole (host of “Crime With Kourt”) also has a personal connection to true crime: At a young age, she learned that someone in her own family had committed a violent crime, an incident she has subsequently investigated.

    “I’ve spent years fighting for my sister’s case to be heard, and I know firsthand how many families are still waiting for that same attention,” Turney said. “Partnering with Kourtney and Crime House gives us the platform to shine a light on the cases that deserve a second look, the ones where critical details were dismissed or overlooked. This isn’t just another true-crime show. It’s about accountability, and making sure these stories don’t fade into the background.”

    Nichole said, “What drew me to this partnership with Crime House is the opportunity to do true crime differently, with intention and respect for the families still living with unanswered questions. Teaming up with Sarah on this series feels like the most natural thing I’ve ever done. We both became advocates in this space through deeply personal experiences, and that shapes how we approach every case. These stories deserve more than headlines. They deserve the kind of attention that can actually make a difference.”

    “The Final Hours” will cover a different missing-person case each week, looking at details that may provide new leads — an untouched dinner, an unmade bed, an unsent text or an unlocked door. “From final conversations, to the last known steps, to red flags and red herrings, Sarah and Kourtney understand the things that replay over and over in the minds of those who’ve lost a loved one,” PAVE Studios said in announcing the podcast.

    Turney, who has more than 1.3 million followers across social platforms, launched “Voices for Justice” in 2019, which reached No. 1 on Apple Podcasts and led to a documentary collaboration with Peacock. Alissa’s case and Sarah’s advocacy are also the focus of an upcoming Netflix documentary.

    Nichole’s true-crime show “Crime With Kourt” reaches more than 3 million followers across social platforms. Her work has consistently helped push stalled investigations back into the public conversation, according to PAVE.

    Founded by Max Cutler, Sherman Oaks, Calif.-based PAVE Studios produces podcasts under two banners: Crime House and lifestyle-oriented OpenMind, whose shows include “Khloé in Wonder Land” hosted by Khloé Kardashian.

    Listen to the trailer for “The Final Hours”:

  • BBC Greenlights Three New Dramas, Including Tudor-Set ‘1536,’ ‘Shy & Lola’ With Hayley Squires, Bel Powley

    The BBC has unveiled three new dramas coming to our screens in due course, including Shy & Lola with Hayley Squires and Bel Powley.

    Shy & Lola, a new six-part drama for BBC iPlayer and BBC One, is written by award-winning screenwriter and novelist Amanda Coe (Apple Tree Yard, The Trial of Christine Keeler) and produced by multi-BAFTA and Emmy award-winning Clerkenwell Films (Baby Reindeer, The Death of Bunny Munro, The End of the F***ing World), part of BBC Studios.

    The darkly comic story follows Shy and Lola, two very different women who are forced to become allies when a murder entangles them in the criminal underworld operating in Shy’s small coastal town in the North of England. Squires (The Night ManagerI, Daniel Blake) stars as Shy, a cleaner scraping by and dreaming of a new life in Portugal, with Powley (A Small Light, The Diary of a Teenage Girl) playing Lola, an ex-model-turned-grifter who arrives in town with trouble at her heels.

    Filming on the show, based on the French television drama Cheyenne and Lola, will begin this spring in and around the U.K. cities of Hull and Leeds.

    Also announced on Monday is D-Notice from writers and executive producers Adam Patterson and Declan Lawn. The six-part British political thriller is set in the world of investigative journalism. Patterson and Lawn are said to “have some experience of” the D-notice mechanism, which allows the government to advise journalists about national security. Now, they’ve come up with a drama that looks at how truth and power speak to one another. It is their third project for the BBC, following The Salisbury Poisonings and Blue Lights, and their first commission from production company Hot Sauce Pictures, backed by Sony Pictures Television.

    The BBC has also commissioned 1536, a new drama series for BBC iPlayer and BBC One, based on Ava Pickett’s play of the same name. The eight-part show written by Pickett from Drama Republic (Riot Women, One Day) is set in the heart of Tudor England against the backdrop of Anne Boleyn’s arrest and weaves royal scandal with rural struggle.

    1536 centers around Anna, Mariella, and Jane: three young women gossiping, arguing, and dreaming in an Essex village, desperately waiting for their lives to start. When the news reaches them that King Henry VIII has had his Queen, Anne Boleyn, arrested, the three of them never suspect that this act will change their lives forever.

    Pickett said: “1536 is something I am immensely proud of and I feel so lucky and privileged to have the chance to bring Anna, Jane and Mariella to a wider audience and to build out their lives even more. In a world where every decision made in the corridors of power ricochets through all of our lives, this story feels more relevant than ever. I’m so grateful to Lindsay Salt for being such a champion of it from the start.”

    Lindsay Salt, Director of BBC Drama, added: “From the moment we saw Ava’s play we knew that we had to have the TV version on the BBC. Visceral, funny, provocative, timely and full of courage, this is a piece of work like no other. Ava is an exceptional voice, so we feel very lucky to be working with her and the brilliant team at Drama Republic to bring three iconic female characters to the screen.”

    Executive producers are Jude Liknaitzky, Roanna Benn, Rebecca de Souza, Chloe Beeson and Pickett. The series was commissioned by Salt.

  • BBC Studios Chiefs on Mega-Mergers, Own M&A, Trump Tariffs, U.S. Streaming Growth, and the ‘Bluey’ Movie

    BBC Studios Chiefs on Mega-Mergers, Own M&A, Trump Tariffs, U.S. Streaming Growth, and the ‘Bluey’ Movie

    BBC Studios CEO Tom Fussell and Zai Bennett, CEO and chief creative officer of BBC Studios Productions, discussed tariff talk by U.S. President Donald Trump, mega-consolidation, including the planned Netflix-Warner Bros. Discovery deal, the growth of the company’s U.S. streaming business, and the Bluey movie.

    They spoke to the press on the first day of the 50th annual BBC Studios Showcase in London. BBC Studios, the commercial arm of British broadcaster BBC, is known for such hit franchises as animated powerhouse Bluey, Netflix’s Baby Reindeer, legal drama The Split and its upcoming spin-off The Split Up, and such natural science hits as Walking With Dinosaurs, and it recently unveiled new shows to mark broadcaster and naturalist David Attenborough’s 100th birthday on May 8.

    “We have seen no impact” from Trump tariff talk, Fussell said when asked about any possible fallout, also lauding the continuing popularity of BBC News in the U.S. He didn’t discuss Trump’s lawsuit against BBC News, simply touting the resilience of the BBC brand and saying “we are not seeing any changes.”

    Asked about Netflix-WBD, he said “we are well diversified, and obviously, you can only control what you can control, so you focus on your priorities, and our priority is carrying the transformation and the growth in the areas we’ve got.” He emphasized though that “no doubt, … people have talked about challenging markets and the rest of it, and our view going forward is that the market growth is not going to be anything like what it had been in the [past] five years.”

    Continued Fussell: “And when you start seeing rumors upon rumors about takeovers and consolidation, that normally is testament to the fact there aren’t huge amounts of growth in the market, because everyone’s looking for … synergies. But we know what we’re doing. We know where we want to be investing in our global expansion of our studio.”

    In that context, he also highlighted that BBC Studios was “a growing business that’s transforming,” with revenue up 55.7 percent over the last four years.

    Following TV market challenges, Bennett on Monday suggested that “there are definitely green shoots of recovery,” sharing that “Paramount is back in the market, spending money,” among other things. But he reiterated that things are “definitely not” expected to return to the highs of the past five years but play out in a new normal range.

    Fussell suggested though that he felt the business would be “talking about striving again,” from scripted to unscripted and, vitally, kids programming.

    Mentioning the 2019 BBC Studios deal with what was then Discovery to take full control of UKTV’s entertainment channels, including Dave, Gold, and Drama, as well as a 2024 deal with ITV that gave the company full control of streamer BritBox International, Fussell also signaled that BBC Studios could also strike more acquisitions of its own. He said it would “carry on investing organically and maybe inorganically.”

    Bennett, who started his role in late 2024, similarly noted that BBC Studios Productions is seeing “solid organic growth and investment” and “looking for inorganic growth in some territories,” mentioning the rest of Europe, the Middle East and Africa as one possible region for deals.

    Fussell added that there “are opportunities for inorganic growth in streaming across the genres,” adding: “I think we have a right, as the home of British streaming, to grow that even further.” But he emphasized that “these opportunities take time,” concluding: “We are very judicious with how we spend that investment.”

    Fussell on Monday also touted the success of streaming services BritBox and BBC Select, which focuses on documentaries, in North America. “Last week was the fifth birthday of BBC Select, and BBC Select is now the third-largest factual SVOD in the States, and we’re really proud of that,” he said. He also touted the growth of BritBox and its launch of a premium tier.

    Among content trends, Bennett was asked about the growth of microdramas, saying that “we’re looking at that right now” and signaling the company could talk about this space more in the coming months. He added: “We’re certainly experimenting.”

    Questioned about audience and buyer appetite, he sees for escapist content versus programming dealing with the world’s cultural and political divisions, Bennett said BBC Studios Productions looks at market needs and is “leaning into specificity and Britishness” more than anything else.

    Current and old content favorites also drew reporter questions on Monday. Could motoring show Top Gear return to U.K. screens? Replied Bennett: “Never say never.”

    Of course, the upcoming Bluey: The Movie was also a talking point. Fussell shared that he just visited creator Joe Brumm in his studio in Brisbane, calling the experience “an absolute pleasure,” and saying that the work on the film was going well. But “I can’t say anything” more, he emphasized. And Bennett shared: “We’ve seen bits of it, and it looks amazing.”

  • Winona Ryder Joins Netflix’s ‘Wednesday’ for Season 3, Reunites With Tim Burton, Jenna Ortega

    Winona Ryder is sticking around Netflix.

    The Stranger Things star has been cast in Wednesday season three.

    The move reunites the Beetlejuice and Edward Scissorhands star with Wednesday director and executive producer Tim Burton, as well as with her Beetlejuice Beetlejuice co-star Jenna Ortega.

    Ryder will have a guest star role that’s being kept under wraps for now.

    “I am so happy that Winona has joined us, she fits right into this world,” Burton said in a statement. “And she’s a dear friend. I always feel lucky to work with her.”

    Creators and showrunners Al Gough and Miles Millar added, “When it comes to Outcasts, Winona Ryder is the GOAT. Her legendary partnership with Tim Burton has defined some of cinema’s most unforgettable characters. We loved collaborating with her on Beetlejuice Beetlejuice and couldn’t be more thrilled to welcome her to Nevermore.”

    She joins Eva Green (Miss Peregrine’s Home for Peculiar Children), who was previously announced as portraying Morticia Addams’ sister, Ophelia, in the upcoming season.

    Wednesday season two debuted last year and became Netflix’s No. 5 most-watched English -anguage series of all time. Season one remains the streamer’s most-watched English-language series of all time.

  • Paramount Is Expected to Raise Price of Warner Bros. Discovery Bid. Will Netflix Walk Away?

    Paramount Is Expected to Raise Price of Warner Bros. Discovery Bid. Will Netflix Walk Away?

    David Ellison’s Paramount Skydance has a Monday deadline to submit its best and final offer for Warner Bros. Discovery — and Paramount is expected to come back with an offer above its previous $30/share bid for WBD, angling to outflank Netflix to win the deal.

    The board of Warner Bros. Discovery, with the permission of Netflix, opened a seven-day window to talk with Paramount about an improved offer. That discussion period ends at 11:59 p.m. ET on Feb. 23, coming after teams from both companies worked over the weekend.

    Paramount has declined to comment on its next move. Insiders tell Variety that Paramount’s revised offer for Warner Bros. Discovery will likely come in at $32/share.

    How will Netflix respond? After Paramount submits a revised proposal, the streamer has four days to either come back with a matching offer — or exit the M&A drama.

    Netflix co-CEO Ted Sarandos, in an interview Friday with Variety‘s Cynthia Littleton, declined to say how the streamer would respond to a higher offer from Paramount. But he did say that Netflix has a “rich history” of being “willing to walk away and let someone else overpay for things.”

    “The next move is up to somebody else. We have a signed deal with Warner Bros. Discovery,” Sarandos said in the Feb. 20 interview. “If someone wants to make a better deal, which the Warner Bros. Discovery board has said has not happened yet, then we’ll see what happens down the road. But let’s not get ahead of that process. And I certainly wouldn’t comment on the bidding strategy anyway. But the core of it is, you know, we’re super-disciplined buyers, as you probably know we have a reputation for such so that I’m willing to walk away and let someone else overpay for things. We have a rich history of that.”

    If Warner Bros. Discovery agrees to accept Paramount Skydance’s higher offer, WBD will be on the hook to pay a $2.8 billion breakup fee to Netflix. In its most recent proposed offer, Paramount has said it will foot the bill for that.

    On Feb. 17, WBD said it was engaging in discussions with Paramount to “seek clarity” on its “best and final offer.” WBD wanted Paramount Skydance “to clarify your proposal, which we understand will include a WBD per share price higher than $31,” Warner Bros. Discovery CEO David Zaslav and board chairman Samuel Di Piazza Jr. wrote in a letter sent to Paramount’s board.

    The Warner Bros. Discovery board cited a communication from a “senior representative for PSKY” to an identified WBD board member that if the WBD board authorized M&A talks, Paramount “would agree to pay $31 per share and that the offer was not PSKY’s ‘best and final’ proposal.” In addition, WBD set March 20 for the special meeting of shareholders to vote on the Netflix deal — which the board at the time said it still recommended that investors vote for.

    “The question now becomes how high PSKY is willing to go — and whether Netflix will exercise its matching rights and increase its offer as well,” MoffettNathanson analyst Robert Fishman wrote in a Feb. 20 research note. “In short, we do expect PSKY to go to at least $32 per share to put the pressure back on NFLX to increase its bid likely to the $30 per share range.” He added that if Paramount Skydance “truly wants to win the bidding war with NFLX, we think it will take a bid in the range of $34 per share to avoid an ongoing debate over the value of Discovery’s Global Networks.”

    Under Netflix’s current agreement with WBD, the streamer would buy Warner Bros.’s studios and streaming businesses for $27.75 per share. WBD shareholders would retain equity in Discovery Global, the company’s proposed spin-off entity house CNN, TBS and other linear networks.

    If Netflix were to up its offer above $30/share, “we have difficulty making the accretion math work,” Fishman wrote. That’s factoring in incremental debt, “likely revenue cannibalization and necessary programming spend cuts needed.”

    “While we see the longer-term benefits of owning Warner Bros., HBO and HBO Max, we expect NFLX to walk away from the deal following a disciplined approach if PSKY pushes its bid well beyond $32 per share,” the MoffettNathanson analyst continued. “We think it will be difficult for PSKY to win the bidding war for WBD if it decides to take a less aggressive approach during this waiver period, giving NFLX the opportunity to match at a more modest increase from its current bid.”

    Meanwhile, Donald Trump — after earlier this month saying he would not be involved in the review of the Netflix-WB pact — in a social media post Saturday demanded that Netflix “immediately fire” board member Susan Rice or else “pay the consequences.” Trump cited a tweet by far-right commentator Laura Loomer, who said Rice, who served as U.N. ambassador under Obama, was “threatening half of the country with weaponized government political retribution.” Loomer also bizarrely claimed that if Netflix is allowed to acquire Warner Bros., “positive messaging of the Democrats’ upcoming witch hunts against Trump from Barack Hussein Obama and his anti-White racist wife Michelle would likely be blasted across all streaming services.”

    On Monday, Sarandos addressed Trump’s comment. “He likes to do a lot of things on social media,” Sarandos said in a BBC Radio 4 interview. “This is a business deal. It’s not a political deal. This deal is run by the Department of Justice in the U.S. and regulators throughout Europe and around the world.”

    The Justice Department in recent weeks has expanded its review of the proposed Netflix-WB agreement to examine whether the combined company would violate antitrust laws with respect to the market for entertainment programming. The DOJ’s Antitrust Division has sent inquiries to independent studios inquiring whether the Netflix acquisition of Warner Bros. “may substantially lessen competition or tend to create a monopoly in violation of Section 7 of the Clayton Act or Section 2 of the Sherman Act,” according to a copy of one of the letters reviewed by Variety.

    Netflix has argued that it does not have anything close to monopoly control over any market. In a statement to Bloomberg about the expanded DOJ probe, chief legal counsel David Hyman said, “Netflix operates in an extremely competitive market. Any claim that it is a monopolist, or seeking to monopolize, is unfounded. We neither hold monopoly power nor engage in exclusionary conduct and we’ll gladly cooperate, as we always do, with regulators on any concerns they may have.”

    On Friday, Paramount said its proposed WBD takeover had cleared a milestone at the DOJ, after the expiration of the statutory waiting period following Paramount Skydance’s “certification of compliance” with the Justice Department’s second request for information under the Hart-Scott-Rodino antitrust act. Netflix’s Hyman accused Paramount of continuing to “mislead stockholders and distract from the facts,” saying that “routine HSR milestones do not signal DOJ approval nor that any decision has been made.”