CANNES, France (AP) — Gordon Gekko is out of prison and out of money. He’s not quite through with Wall Street, though. Reuniting with director Oliver Stone, Michael Douglas reprises his Academy Award-winning role as financial viper Gekko in “Wall Street: Money Never Sleeps,” whose premiere Friday at the Cannes Film Festival could not be more timely as frenzied gyrations continue to rock the stock market. “You just had the flash-crash on Thursday. Here we are at Cannes. It’s almost like Rupert Murdoch made it happen,” said co-star Shia LaBeouf, referring to the chairman of News Corp., which owns 20th Century Fox, the studio releasing the film. “You’re down 1,000 points on Thursday, you’re up 300 points on Monday,” LaBeouf, who plays Gekko’s new protege, said in an interview. “You literally, just as I’m speaking to you, just went through the most tumultuous 30 minutes to ever hit the market in the history of Wall Street, and here we are promoting a movie. It’s wild that our movie’s taking place in this landscape. This is a firefight in the middle of the craziest money storm that has ever happened.” Opening theatrically in September, the follow up to 1987’s “Wall Street” is set against the economic meltdown of 2008. Released from prison in 2001 after eight years for insider trading and other crimes, Gekko has just published a memoir titled “Is Greed Good?” – echoing the oily-haired raider’s mantra of avarice in the original film. LaBeouf’s Jake Moore is a turk at an investment house run by his mentor (Frank Langella), who finds himself in a fierce showdown with a rival (Josh Brolin). Jake finds a new sage in Gekko, who is barred from trading but is full of advice and insider dirt that his new disciple can put to use. Gekko also happens to be the estranged father of Jake’s fiance (Carey Mulligan). The film plays out amid the sky-is-falling sense of doom as banks came close to collapse from bad loans. Though markets have stabilized and recovered much of their losses, the danger is far from over, Stone said. “It’s a sensational period when they want to hang the bankers, but I don’t see this system as changing. The banks are going to continue on their unhealthy ways, and I think it’s going to happen again,” Stone said. “I don’t think it’s going away. It may not happen this year or next year, but it’s bound to happen.” Stone said he stuck to the notion that helped make the first film a success: Putting people and an intriguing story first, the economy second. Still, the film brings the economic crisis home in a more personal way than many people have perceived it, entertaining audiences while providing insights into convoluted financial matters, Mulligan said. “Oliver could articulate what happened in a kind of accessible blockbuster form,” Mulligan said. “I don’t know anything about finance, and I think that I certainly know more now than I did walking into this. It’s understandable to me, which is saying something, because it’s not my world at all.” Gekko spends much of the film seemingly above it all, commenting with expertise but seemingly no personal stake on the new state of greed, whose magnitude in 2008 makes his own criminal excesses 20 years earlier seem like misdemeanors. “When I was away, it seems that greed got greedier, with a little bit of envy mixed in,” Gekko remarks. Gekko insists he has no money, yet he’s a man of contrasts, who gets around New York with a subway pass but lives in a gorgeous Manhattan apartment. He spouts new slogans – “The mother of all evil is speculation,” and “One thing I learned in jail is that money is not the prime asset. Time is” – a hint he’s a man who has learned his lesson. “The issue is whether on one level Gordon is reformed or not,” Douglas said. “Is he reformed or is this a hustle?” — On the Net: http://www.festival-cannes.fr/en.html
May 14, 2010 | Posted in
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LOS ANGELES (AP) — The last four “American Idol” contestants left standing say their rivalry is a friendly one. The singers told a news conference Friday they’ve remained close even as they strive to win. “We’re all friends,” said Lee Dewyze, 24, of Mount Prospect, Ill. “But as far as the show, at the end of the day, all of us do want to win. That’s why we’re here: We want that No. 1 spot … (but) we want it for ourselves, not because we don’t want anyone else to win.” No matter the contest’s outcome, said Crystal Bowersox, 24, of Toledo, Ohio, they’re all champs who could end up with hit songs on the radio. Casey James, 27, of Fort Worth, Texas, agreed, saying, “It’s really a matter of how badly you want to do this and how hard you push yourself.” There is a sense of competition when song choices are made for their weekly performance, conceded Michael “Big Mike” Lynche, 26, from Queens, N.Y. But when worry sets in about grabbing the best tune, Lynche said, “you realize nobody sings the songs that you sing” or has the same style. Next week, the foursome will be mentored by singer-actor Jamie Foxx and will perform cinema-themed songs. Asked if they’d change anything that’s happened during the contest, Dewyze offered a tongue-in-cheek reply: “More bagpipers,” he said. Dewyze performed “Hey Jude” last month with a bagpiper as his unlikely accompanist. The news conference with the four finalists also was an unusual move for “American Idol.” It coincided with a ratings drop for the show and a loosening of its grip on the No. 1 spot, which has gone the past two weeks to ABC’s “Dancing with the Stars.” — Fox is a unit of News Corp. — On the Net: http://www.americanidol.com
May 7, 2010 | Posted in
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LOS ANGELES (AP) — MySpace is trying to get on your social calendar – or at least take over how you manage it. The social networking site, in the midst of an overhaul to regain its lost mojo, is rolling out a service Thursday that blends nearly 1 million concert listings with a calendar and new links to buy tickets from partners or artists. Other pop culture events such as movie debuts and album releases are expected to appear on the calendar as well. Users can add or subtract which events they see on their personal calendars on MySpace by clicking on categories such as music or friends’ events. They even could list or remove events they were notified of on Facebook, the rival social networking giant. Listings can be tailored to a user’s favorite artists and location. MySpace is capitalizing on its strength as a forum where 14 million musicians interact with fans and on its bustling invitation application, which it says handled 126 million event invitations in March alone. The new project also opens a channel for advertising that is needed to improve the finances of MySpace, which has become an underperforming unit of News Corp. MySpace is selling event listings that will show up prominently on users’ calendars and profile pages. Wal-Mart Stores Inc. is promoting an event to sell merchandise that goes with DreamWorks Animation SKG Inc.’s latest movie, “How To Train Your Dragon.” MySpace co-president Jason Hirschhorn said the service will make the site’s huge database of event listings more relevant to users and give advertisers a way to blend in more seamlessly with users’ lives. “As we look at the future of MySpace, it’s important to diversify our revenue streams, but also to figure new ways to integrate advertising,” Hirschhorn said. The new feature takes advantage of MySpace’s $20 million acquisition last year of iLike, a popular music application that also runs in Facebook, and blends it with Social Plan, an event application that was absorbed by MySpace in January. Social Plan was also a unit of News Corp.
April 15, 2010 | Posted in
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NEW YORK (AP) — Simon Cowell will receive the 2010 International Emmy Founders Award for his work in television. The 50-year-old recording executive and TV personality is a judge on Fox network’s “American Idol.” He’s also known for the “Got Talent” and “X Factor” franchises. International Academy President Bruce Paisner says Cowell “has built an international empire and in so doing has changed the face of television around the world.” Cowell will receive the award at a New York gala on Nov. 22. He said in a statement Thursday that he’s “delighted,” and has been “very lucky to be able to make shows that I love.” — Fox is a unit of News Corp. — On the Net: http://www.iemmys.tv http://www.americanidol.com/bio/simon-cowell/
March 26, 2010 | Posted in
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LOS ANGELES (AP) — Video streaming site Hulu is saying goodbye to The Daily Show and The Colbert Report, two popular shows from Comedy Central that will no longer be streamed on the site after next week. Hulu said Tuesday it was unable to secure extended rights for shows from Comedy Central, which is owned by Viacom Inc. The site shares ad revenue with companies that provide video content. Viacom will be now be able to keep all of the advertising revenue by hosting the shows on its own Web sites. In a blog post, Hulu’s senior vice president of content and distribution, Andy Forssell, said the shows had generated a lot of views and ad revenue over the past 21 months. “After a series of discussions with the team at Comedy Central, though, we ultimately were unable to secure the rights to extend these shows for a much longer period of time,” he said. The shows will stop being shown on Hulu starting at 11:59 p.m. PST on March 9. Viacom said in a statement that Hulu was one of the many partners the company has worked with to add outlets for its content. “We had a great experience with Hulu, and we hope to work with its team again in the future,” it said. Full episodes of The Colbert Report and The Daily Show will still be available on Viacom-owned sites such as http://www.comedycentral.com , http://www.colbertnation.com , and http://www.thedailyshow.com . Hulu is jointly owned by News Corp., NBC Universal, The Walt Disney Co. and Providence Equity Partners.
March 3, 2010 | Posted in
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LOS ANGELES (AP) — The Walt Disney Co. on Monday began warning Cablevision subscribers in New York that the local ABC television station signal may go dark this weekend in a dispute over how much it is paid by the cable operator. If the fee fight isn’t resolved, the station could go dark after midnight Saturday, meaning Cablevision’s 3.1 million customers could lose the ability to watch the Academy Awards on Sunday on ABC. The signal, however, can still be pulled from the air for free with an antenna and a new TV or digital converter box. Disney is seeking an additional $40 million a year in new fees, Cablevision Systems Corp. spokesman Charles Schueler said in a statement. Cablevision pays more than $200 million a year to Disney. “It is not fair for ABC Disney to hold Cablevision customers hostage by forcing them to pay what amounts to a new TV tax,” Schueler said. Disney said Cablevision charges customers $18 per month for basic broadcast signals, but does not pass on any payment for ABC to Disney. The dispute involving WABC-TV is similar to the standoff at the end of last year between News Corp. and Time Warner Cable over how much Fox television station signals were worth. That tussle, which threatened the college football bowl season and new episodes of “The Simpsons,” was resolved without a signal interruption. Disney said it began alerting Cablevision watchers of the impasse in on-air spot advertisements Monday night. It plans on taking out ads in local newspapers, radio stations and online to inform viewers of the situation, and set up a Web site, http://www.saveabc7.com , to plead its case. The company’s previous contract with Cablevision expired more than two years ago, but the companies extended it month by month as talks continued. Under previous arrangements, Disney was paid for cable channels such as ESPN and Disney Channel, but gave its ABC broadcast signal away for free, a situation that most broadcasters are now trying to change. “We can no longer sit back and allow Cablevision to use our shows for free while they continue to charge their customers for them,” said Rebecca Campbell, the president and general manager of WABC-TV in a statement. Disney Chief Executive Bob Iger foreshadowed recently that a fight was coming after News Corp. succeeded in its campaign to be paid in cash for its stations’ broadcast signals. WABC-TV is the most watched TV station in the country, said Disney, which is based in Burbank. “It’s time to recognize the value that they provide to distributors, and their importance to local communities,” Iger said on a conference call with analysts last month.
March 2, 2010 | Posted in
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SEATTLE (AP) — DVD rental kiosk chain Redbox has agreed to wait 28 days after Warner Bros. releases new movies for sale before offering to rent them for $1 a night. The agreement announced Tuesday ends a lawsuit that Redbox, a subsidiary of Coinstar Inc., filed against Warner Bros.’ home video unit last August. That was its third such suit against a studio that wanted to delay cheap rentals to boost sales of DVDs, a significant moneymaker for movie studios. Redbox said in the lawsuit that it was being unfairly prevented from buying discs from wholesalers. The company had resorted to buying new-release DVDs from retailers at higher prices to keep its kiosks stocked with new titles. The two-year deal with Warner Bros., a division of Time Warner Inc., will lower the cost Redbox has to pay to stock its machines. Redbox agreed to destroy used DVDs after their popularity in the kiosks wanes instead of selling them for $7. For Warner Bros., whose 2010 DVD lineup includes “Where the Wild Things Are” and “Sherlock Holmes,” that should help to prop up higher DVD retail prices. Warner Bros. movies make up about 15 percent of Redbox’s inventory, the company said. Redbox’s president, Mitch Lowe, said there are some people who simply must have a just-released DVD right away. But in many cases, he said Redbox can drum up as much interest in a month-old title by promoting it at the kiosk. The deal will also give Redbox the right to rent Blu-Ray discs from its kiosks. The company said it expects to start renting the high-definition versions for more than $1 a night starting in the middle of the year. Netflix Inc., which sends DVDs to renters through the mail, agreed last month to a similar delay for Warner Bros.’ latest movies. Redbox’s lawsuits against General Electric Co.’s Universal, which wants a 45-day window to sell DVDs before rentals start, and News Corp.’s 20th Century Fox, which wants 30 days, are still making their way through the courts. Redbox said the deal with Warner will allow it to buy more of Universal’s and Fox’s videos at retail. — AP Business Writer Ryan Nakashima in Los Angeles contributed to this report.
February 17, 2010 | Posted in
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LOS ANGELES (AP) — Owen Van Natta is stepping down as CEO of struggling Internet social networking site MySpace, effective immediately. MySpace’s parent, News Corp. made the announcement late Wednesday. The former Facebook executive will be replaced by co-presidents Mike Jones and Jason Hirschhorn. All three men joined MySpace last April. Jon Miller, the chairman of digital media for News Corp., said he and Van Natta agreed to his resignation after discussing his personal and professional priorities.
February 11, 2010 | Posted in
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LOS ANGELES (AP) — Ellen DeGeneres, the newest judge on “American Idol,” says Simon Cowell is “meaner” than she thought. Cowell, Randy Jackson, Kara DioGuardi (KEHR’-uh dee-oh-GWAR’-dee) and various guest judges kicked off the ninth season of the Fox singing competition last month. DeGeneres begins her stint Tuesday night. In a video posted on the show’s Web site, DeGeneres says Cowell is “actually meaner than I thought. It’s hard to listen to him tell people things and for me not to go, `You poor thing!’” Cowell has announced that he’s leaving “Idol” after this season. Paula Abdul left over a salary dispute. DeGeneres says no one has given her advice on judging – “they’re just letting me do what I want to do.” —- Fox is a unit of News Corp. — On the Net: http://www.americanidol.com
February 9, 2010 | Posted in
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LOS ANGELES (AP) — Hoping to boost revenue, MySpace Music has begun experimenting with audio advertisements that users must hear before listening to music for free online. The 30-second ads began appearing last week when users listen to songs on artist profiles, album pages, playlists and pop-out players. They expand on a trial that began in December. The ads are impossible to avoid, unlike the visual, banner ads that can be put out of sight in background windows as users listen along while doing other Web surfing or computer work. But the audio ads are timed so that a user can listen to up to 100 songs on a playlist or to a full album with just a single interruption after the first song. The oral pitches make online listening more like over-the-air radio, although online listeners can choose which songs they hear. MySpace Music, a joint venture between major recording companies and News Corp., wants to boost the frequency of such ads this month before settling on how often they’ll be running. Other online music sites such as Pandora and Yahoo Music already run similar audio ads. “Unobtrusive audio advertising is another way to communicate with an engaged auditory audience,” MySpace Music said in a statement. “As always, we are interested in hearing feedback from our users and advertising community as we run these tests.” Some early advertisers include TurboTax and Office Depot. The ads are sold by online audio ad company TargetSpot Inc. News Corp. Chief Executive Rupert Murdoch said last week that MySpace’s turnaround is “not yet where we want it.” The company said its digital properties, including MySpace, experienced a fourth consecutive quarter of falling ad and search revenue. MySpace is being overhauled by Owen Van Natta, a former Facebook executive who joined the company last April as its CEO. Once a leading social-networking site, MySpace has lost market share to Facebook and others. Last year, MySpace cut about 720 jobs, reducing its work force by about 40 percent.
February 8, 2010 | Posted in
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