Hollywood
‘Spider-Man: No Way Home’ leaps to box office success amid Omicron concerns
Los Angeles: No one could be surprised that ‘Spider-Man: No Way Home’ would be one of this year’s box office biggest heroes but it’s spinning its way to becoming the best December domestic opening with $253 million, the best ever for Sony and the third best-ever among all films beating 2015’s ‘Star Wars: The Force Awakens’ domestic opening of $247.9 million.
The film, released exclusively in theatres, is attracting enthusiastic moviegoers with record-breaking support in the US. This is big news for theaters whose continued existence seems under constant threat due to the sustained Covid-19 pandemic.
American Multi-Cinema (AMC) announced Friday that roughly 1.1 million moviegoers attended the opening night of ‘Spider-Man: No Way Home’ in the US, making it the highest-grossing opening night for a December title in AMC’s history. Cinemark called the film’s debut its “best opening night of all time.” And Regal said the film became its second-highest Thursday box office title in its history and shattered records for IMAX, 4DX, ScreenX, and RPX formats.
Worldwide, the film, starring Tom Holland as Marvel’s friendly neighborhood Spider-Man, is crushing box office records — with this weekend’s global $587.2 million tally, it ranks as the third-biggest worldwide debut in history behind “Avengers: Endgame” (a historic $1.2 billion) and “Avengers: Infinity War” ($640 million). Notably, the top two films opened in China, which is currently the world’s biggest movie-going market, while ‘Spider-Man: No Way Home’ has yet to secure a release date there.
In India, the movie continues to keep the Indian box office buzzing. In just three days, the film has managed to cross the Rs 100 crore mark beating other Bollywood films. The much-awaited superhero action film was released on 16 December across 3,264 screens in English, Hindi, Tamil, and Telugu versions.
“This weekend’s historic ‘Spider-Man: No Way Home’ results, from all over the world and in the face of many challenges, reaffirm the unmatched cultural impact that exclusive theatrical films can have when they are made and marketed with vision and resolve,” said Sony’s Motion Picture Group chairman and CEO Tom Rothman as reported in Variety. “All of us at Sony Pictures, are deeply grateful to the fabulous talent, both in front of and behind the camera, that produced such a landmark film. Thanks to their brilliant work, this Christmas everyone can enjoy the big screen gift of 2021’s mightiest Super Hero — your friendly neighborhood Spider-Man.”
Credit should also be given to Marvel itself for amping up the prestige of this sequel and fueling fans’ anticipation for months. Directed by Jon Watts, the third chapter in Holland’s trilogy takes place after Peter Parker’s identity is revealed to the world, upending the lives of his girlfriend MJ (Zendaya), his best friend Ned (Jacob Batalon), and his aunt May (Marisa Tomei).
Critics have embraced ‘Spider-Man: No Way Home’, describing the film as a “satisfying meta-adventure.” Audiences have been equally receptive; the movie secured an “A+” CinemaScore and a 99 per cent Rotten Tomatoes average.
‘Spider-Man: No Way Home’ delivered a particularly strong turnout in western Europe, led by the United Kingdom. In the UK, ticket sales reached $41.4 million during its extended five-day opening to notch the fourth-biggest debut ever in that market. The film opened in France with $17.8 million, Italy with $13 million, Germany with $11.4 million, and Spain with $10.4 million. In eastern Europe, Russia led with $17.4 million, followed by Ukraine ($2.4 million) and Turkey ($1.4 million).
Latin American countries webbed up $79.5 million in total, with Mexico’s five-day tally hitting $32.4 million, the country’s highest of all time. Argentina also recorded its best box office debut with $6.8 million, as did Ecuador with $3.7 million.
In Asia, the movie notched the largest tally in South Korea ($23.7 million), followed by Hong Kong ($6.3 million). Other notable markets include Saudi Arabia ($5.2 million), Israel ($2.7 million), and New Zealand ($2.3 million).
Hollywood
WBD sets April 23 vote on $110bn Paramount Skydance merger
Investor approval key step, but regulators loom over mega media deal
NEW YORK: Warner Bros. Discovery has set April 23 as the date for shareholders to vote on its proposed $110 billion merger with Paramount Skydance, marking a crucial step in one of the biggest media deals in recent years.
The all-cash transaction offers WBD shareholders $31 per share, a hefty 147 per cent premium to its unaffected stock price, signalling strong intent to push the deal across the finish line. The company’s board has unanimously backed the merger and is urging investors to vote in favour.
Even if shareholders give the green light, the deal is far from done. Regulators in the United States and Europe are expected to scrutinise the merger closely, weighing concerns around competition and potential price impacts for consumers.
To keep investors on side, WBD has built in a safety net. If the deal is not completed by September 30, shareholders will receive a quarterly “ticking fee” of $0.25 per share until closure.
The proposed merger would significantly reshape the media landscape, combining the assets of Warner Bros. Discovery with those linked to Paramount Global and Skydance Media. It would also cement the growing influence of David Ellison, who has been steering Skydance’s aggressive expansion strategy.
“The WBD Board has been guided by the singular principle of securing a transaction that maximises the value of our iconic assets and delivers as much certainty as possible to our shareholders,” said Warner Bros. Discovery board chair Samuel A. Di Piazza Jr.. “This historic transaction will expand consumer choice and create new opportunities for creative talent.”
Warner Bros. Discovery chief executive officer David Zaslav added that the company is working closely with its counterpart to close the deal and unlock value for stakeholders.
With investor backing likely but regulatory hurdles ahead, the proposed merger is shaping up to be a defining moment for the global entertainment industry, where scale, content and competition are increasingly intertwined.
