Movie Studios Worry About Mergers While AI Advances
Artificial intelligence is not going away, people. Get your popcorn ready.
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It's Tuesday, June 3rd. Here's what's happening.
🍿 The Big Picture
As movie studios grapple with mergers, spinoffs, reboots and sequels, artificial intelligence is rapidly advancing. AI can be seen as either a threat or a creative tool, depending on your perspective. Many Hollywood executives have ties to AI companies or openly support the technology; Netflix co-founder Reed Hastings, for instance, recently joined the board of leading AI company Anthropic. Like it or not, AI is becoming part of the story. And for studios and creators, pretending it isn’t happening is no longer an option.
🎥 Extra Coverage
Speaking of artificial intelligence, Luca Guadagnino is reportedly in talks to direct a movie about the firing (and rehiring) of OpenAI CEO Sam Altman. The movie is being set for Amazon MGM Studios. (The Hollywood Reporter)
California's expanded film and TV tax credit, pitched as a “jobs bill,” is projected to create between 4,400 and 5,500 jobs, but experts remain divided. Many wonder if it's too little, too late. (Variety)
Paramount has set an annual shareholder meeting for July 2, indicating that a deal with the government regarding: a) its proposed merger with Skydance and b) it's battle with Trump over a 60 Minutes interview, is not coming any time soon. They also nominated 3 new board members: Mary Boies, Roanne Sragow Licht and Charles Ryan. (Deadline)
The Shepherdess and the Chimney Sweep also known as The Cross-Eyed Tyrant may be one of the most influential (and least known) animated film of all time. If you are a Studio Ghibli fan, this is a must read. (Animation Obsessive)
Janus Films has landed another film out of Cannes, this time acquiring the North American rights to Magellan, starring Gael García Bernal. (TheWrap)
📈 MNP Stock Index
Market Close: Tuesday, June 3rd, 2025
Total Value: $107,796.51
Today's Change: -$702.02 (-0.65%)
Total Gain/Loss (Since 05/12/25): $7,796.48 (7.80%)
Stocks without a ton of float seem to be trading with greater volatility as the market figures out exactly what to make of Hollywood right now. On the day, a flat market in general for movie stocks, with the index ending down 0.65%.
Disclaimer: The MovieNewsPro Stock Index is a virtual index - there are no actual funds invested. Sector index total value dollar amounts are based on an initial hypothetical investment of $100,000 on May 12th, 2025. We are not licensed investment advisors and our information should not be used as investment advice. Invest wisely.
🏆 Film Festivals
SXSW London, June 2-7
Lighthouse International Film Festival, US - June 4-8
New Media Film Festival, US - June 4-5
Sydney Film Festival, Australia - June 4-15
Tribeca Film Festival, US - June 4-15
Guadalajara International Film Festival, Mexico - June 6-14
Annecy International Animation Film Festival and Market, France - June 8-14
American Black Film Festival, US - June 11-15
Provincetown International Film Festival, US - June 11-15
DC/DOX Film Festival, US - June 12-15
Monte Carlo Television Festival, Monaco - June 13-17
Transilvania International Film Festival, Romania - June 13-22
Bentonville Film Festival, US - June 16-22
CineEurope, Spain - June 16-19
📺 Watch This Tonight
The Power of the Dog (2021)
Directed by Jane Campion
A taut examination of toxic masculinity and loneliness. The performances by Kirsten Dunst, Benedict Cumberbatch and Jesse Plemons are first-rate.
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Disclaimer/Transparency
MovieNewsPro is a film industry news monitoring service. All stories have been previously reported elsewhere and are not exclusive stories to MNP. All information is believed to be accurate at the time of reporting. MovieNewsPro uses a full array of technology to gather information, including machine learning, automation and artificial intelligence throughout its business monitoring, editing and reporting process.
