Movies
FoxStar India opens cuckoo to solid start
MUMBAI: FoxStar Studios’ Cuckoo has opened strong in its opening weekend making it the highest grossing opening for a Tamil film without a big star cast in the last five years. Co-produced with The Next Big Film, Cuckoo is the fourth hit for Fox Star in the Tamil market.
Previous hits include Raja Rani, Vathikuchi and Engaeyum Eppothum (US grosses waiting for Dmitry). Cuckoo is a heartwarming love story between a blind couple.
Director Raju Murugan said: “I am grateful to the fraternity and the audiences for such a warm reception to the film. I could have never imagined this love and affection and such a huge success at the box office, for a film that was being directed by a debutant and did not boast of any big star power. I am thankful to Fox Star Studios and Next Big Films for showing faith in me and in my two powerhouse performers – Dinesh and Malavika, for coming up one of with the most memorable performances of 2014!”
Cuckoo is also Fox Star Studios first film post its successful three film deal with A R Murugadoss. And Murugadoss will be directing a Hindi film – Holiday – for the studio next.
Fox Star Studios CEO Vijay Singh added: “With Cuckoo, we, along with our co producers, The Next Big Film, have been able to demonstrate that content really is the king at the box office. With Raja Rani and now Cuckoo, we have given the industry two new talented directors, Atlee and Raju. With four back to back hits under our belt, three of which were in joint production with one of the giants of Tamil cinema, A R Murugadoss, we are now looking forward to some exciting times ahead, as our next Mundasuppati, in partnership with Thirukumaran Entertainment, gets ready for a release soon.”
Next up for Fox Star is its Hindi release Hawaa Hawaai directed by Amole Gupte (post Stanley Ka Dabba’s criticial and commercial success) slated for a release on 9 May.
Having considerably scaled up in the Hindi film market, Fox Star recently announced a four film deal with Vishesh films (on the back of Raaz 3, Jannat 2 and Murder 3‘s success) and has forged alliances with Pooja Entertainment and Films, Phantom Films, Illuminati Films and Endemol India.
Fox International Productions president Sanford Panitch said: “Fox Star India continues to use its strength in choosing projects, distribution and marketing of both Hollywood and Indian films, and in sustaining lasting partnerships to great results.”
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.
