If I could remove any word from Oscar conversations, it would be “snubbed.” It’s catchy and makes good headline fodder, but it implies that a cabal of Academy members sat in a room and consciously decided to ostracize this actor or that moviemaker. These ballots are filled out by 6,000 to 7,000 voters, ranging from visual effects experts to screenwriters to studio chiefs. I can’t envision secret meetings to decide the fate of each candidate.
When it comes to Hollywood movies and TV shows on the Web, all the focus is on Netflix, Hulu and even BlockBuster’s online ambitions. Yet YouTube, the daddy of the online video space with some 3.5 billion views a day, has been quietly bulking up its traditional studio content. All this while there’s been a lot written about its $100 million investment to create hundreds of new cable channels of the future.
What’s that? Jay Leno is moving to prime-time? You don’t say!
Frankly, it’s hard to remember the last time there was such hubbub about a TV show. It was, after all, the cover story in Time magazine. Not to be outdone, The New York Times, The Wall Street Journal, Reuters, AP, and probably every local news outlet between New York and Hollywood had a story about the talk show host — more often than not raising the question of whether he’s going to save network TV.
Are the Winter Olympics getting frozen out? Not exactly, but drumming up advertising and sponsorship dollars isn’t as easy as it used to be. Here’s how Andrew Benett, the global chief strategy officer of Euro RSCG, described what’s happening: “You have a confluence of many factors happening here. One, winter versus summer. Two, a hangover from Beijing. And three, the economic times.”
What’s going to happen to MGM?
On Tuesday, the Hollywood studio announced it was replacing its chief executive Harry Sloan with a team that includes a turnaround expert. It’s a well-known fact that MGM, which is owned by private equity firms and Comcast, has struggled with a massive debt load. It has payments due on $3.7 billion of debt and the future isn’t looking too good, given the down market and shrinking DVD demand.
Debt-ridden Hollywood studio MGM, whose library is home to such gems as the Rocky and James Bond flicks, has replaced CEO Harry Sloan, appointing a three person team to run the show: famed turnaround ace Stephen Cooper, motion pictures group boss Mary Parent, and CFO Bedi Singh.