Hollywood
‘Exodus’ dethrones ‘The Hunger Games’ at the box office
MUMBAI: Exodus: Gods and Kings, which stars Christian Bale, in the lead has topped the U.S. box office with a whopping $24.5 million debut, leaving behind The Hunger Games: Mockingjay — Part 1, which had held the No. 1 position for the past three weeks. The Hunger Games, now it its fourth week, slid only 40 per cent, earning $13.2 million for a domestic total of $277.4 million.
While reviews of Exodus were not all positive as the makers faced criticism for casting mainly Caucasian actors, Fox points out that Exodus’ opening weekend audience was quite diverse, which is promising for the film’s future. The audience was 54 per cent male, and 65 per cent were over 25 years of age. 20 per cent of the audience were African-American while 18 per cent Latino. Top grossing theaters ranged from major metropolitan cities to smaller towns such as San Antonio. Exodus also opened in several international territories, earning $43.3 million around the globe.
Although December openings are known for their slower starts and longer burns, Exodus, which cost $140 million to make after tax breaks, has earned exactly what box office insiders had expected for the weekend. In the upcoming weeks, the movie will face strong competition from the forthcoming movies – The Hobbit: The Battle of the Five Armies, family musical Annie, Disney’s Into the Woods and Fox’s threequel Night at the Museum: Secret of the Tomb.
Hollywood
Trump invested over $1.1m in Netflix bonds at the peak of Warner Bros bidding battle
Financial disclosures show U.S. president also bought Warner Bros Discovery debt during high-stakes media takeover race.
WASHINGTON: New government financial disclosures show that U.S. president Donald Trump purchased more than $1.1 million worth of bonds issued by Netflix over the past three months. The transactions occurred during a period when Netflix was engaged in a competitive bidding war for Warner Bros. Discovery, a potential merger that the Trump administration had publicly criticised on antitrust grounds.
Between December and January, the president acquired Netflix bonds valued between $1.1 million and $2.25 million. The bonds carry a 5.375 per cent interest rate and are scheduled to mature in November 2029. Financial disclosures also revealed an additional investment in Warner Bros Discovery bonds. The purchase was valued between $500,002 and $1 million, with the debt reportedly bought at roughly 92 cents on the dollar. The bonds are now trading at around 95 cents on the dollar, leaving the position currently in profit.
The timing of the investments has drawn scrutiny because the administration had been openly critical of Netflix’s market activities at the time. While the president’s trust was purchasing the debt, the administration reportedly pressured Netflix to remove board member Susan Rice and expressed concerns that a Netflix–Warner merger could harm competition.
The White House has dismissed conflict-of-interest concerns, stating that the president’s assets are managed independently by his children. Spokesperson Anna Kelly said U.S. presidents are legally exempt from the conflict-of-interest laws that apply to other federal officials.
Despite the financial interest, Netflix ultimately lost the race to acquire Warner Bros Discovery. Paramount Skydance secured the deal on 27 February with a $110 billion offer. The acquisition was backed by Larry Ellison, who guaranteed $40 billion to support the bid, while major lenders including Bank of America, Citigroup and Apollo Global Management provided $39 billion in financing.
The final acquisition leaves the combined Paramount entity carrying roughly $85 billion in debt, while Netflix withdrew its bid roughly two weeks before the official disclosure report was released.
