🎬 "A Win For The Industry" 🙌

👋 Good morning! ‘Inside Out 2’ has dethroned ‘Incredibles 2’ to become Pixar’s highest-grossing film ever, raking in over a whopping $1.2B. Yep, it’s true! This sequel has resonated with audiences worldwide, proving that revisiting Riley’s colorful mind was a stroke of genius.

Welcome aboard the Dailies. As you sip your morning brew, we’ll get you caught up with the fast-paced world of Hollywood - no need to chase down a newsstand, we’ve got everything you need right here.

🎞 Here’s what’s on the reel today:

• Inside the Skydance/Paramount Deal

• Regal's $250M Facelift

• Bundle or Bust

• Last Looks: 👀 Bite-sized scoops on developing stories/projects

• Video Village: The latest trailers

• Martini Shot 🍸

Paramount's $8B Tech Makeover
Inside the Skydance Deal

Unless you've been living under a rock (or binge-watching ‘Suits’ for the 17th time), your feeds have been flooded with headlines about Skydance, Paramount, and a whole lotta zeros. But what's really going on in this Hollywood mega-merger?

The Deal Breakdown (Warning: May Cause Headaches)

• Skydance pays $2.4B for National Amusements (Shari Redstone's holding company that controls Paramount)

• Skydance merges with Paramount, getting $4.75B in stock

• Larry Ellison & RedBird Capital toss in $1.5B for debt relief

• Paramount shareholders get a premium (up to 48%!) or can stick around for the ride

• The deal comes with a 45-day "go-shop" period. If Paramount finds a better deal, they can bail – but breaking up is hard (and expensive) to do. Walking away would cost Paramount a whopping $400M breakup fee.

The Master Plan (Or: How David Ellison Plans to Save Hollywood)

David Ellison's vision for Paramount is part Silicon Valley, part Hollywood:

• Tech Makeover: Ellison plans to infuse Paramount with Silicon Valley DNA. Expect AI to assist in various creative processes, from script development to editing. Cloud computing will become the backbone of operations (because server rooms are so 2010), potentially speeding up production and reducing costs. Ellison envisions a culture where Hollywood creatives and tech innovators work side by side. However, the balance between tech efficiency and creative artistry remains to be seen.

• Streaming Superhero: Paramount+ gets a complete tech overhaul, plus potential streaming partnerships (code for "please someone bundle with us").

• Franchise Frenzy: ‘Top Gun 17,’ anyone? Ellison's doubling down on big franchises and merging Skydance's library. The challenge will be maintaining quality while increasing quantity.

• Gaming Gambit: Ellison sees potential in translating popular movie and TV franchises into video games (Paramount: The Video Game, coming soon). But remember, success in the volatile gaming industry is far from guaranteed—even established players have faced setbacks.

• Leaner and Meaner: $2B in planned savings means job cuts (LinkedIn, brace for impact) and potential asset sales (*BET and Pluto TV sweating nervously*). Cable networks, in particular, may face downsizing as the company pivots towards streaming and digital content.

• International Expansion: Ellison has signaled a push for greater global reach. This could involve partnerships with international streaming services or increased local content production in key markets. The goal is to tap into growing entertainment markets beyond North America.

Once the deal closes, David Ellison will take the reins as CEO and Chairman, with former NBCUniversal boss Jeff Shell as President. But Wall Street's not rolling out the red carpet just yet—Paramount's stock took a 5.3% nosedive after the announcement. Seems like investors need some convincing that this Hollywood-Silicon Valley mash-up will be a blockbuster hit.

Show Me the Money

Ellison's not just dreaming big; he's betting big. The Skydance team is projecting Paramount to hit a whopping $33.5B in revenue by 2027. That's like expecting ‘Titanic’ box office numbers... every year. Bold move, Ellison. Let's see if it pays off.

Transforming a century-old Hollywood studio into a tech-media hybrid? Ellison faces the challenge of merging two very different cultures while keeping the creative spark that makes Hollywood, well, Hollywood.

The deal won't close until late 2025 (thanks, regulators), so there's plenty of time for more drama. Until then, the current leadership team will steer the ship for another year, implementing their own $500M cost-saving plan. Once the deal closes, Ellison and Shell will take the reins, bringing their tech-focused vision to life.

🍿💸 Regal Cinemas is betting big on a box office revival. The theater chain is investing $250M to upgrade their theaters across the U.S. They're rolling out luxury recliners and digital enhancements at over 30 locations by 2025, aiming to lure viewers back from their streaming sofas. It's a bold move in the post-pandemic entertainment landscape, especially as parent company Cineworld navigates choppy financial waters post-bankruptcy. The cash infusion will also boost their digital presence, making ticket-buying smoother than a fresh tub of popcorn. As streaming fatigue sets in, Regal's hoping their revamped cinemas will be an offer movie buffs can't refuse.

📺📊 The latest scoop from Ampere Analysis shows 42% of U.S. streamers are constantly playing the subscribe-cancel-resubscribe game. But here's the plot twist: bundling services is becoming the secret sauce for customer retention. Disney+ subscribers who bundled with Hulu and ESPN+ were 59% less likely to bail within a year. With streaming giants like Disney/Warner and Comcast jumping on the bundle train, we're likely to see some serious shake-ups. The streaming market's getting crowded, so keeping viewers hooked is the new holy grail. Bottom line? It's all about making viewers feel like they're getting the best deal.

Development 🗒️

• Jennifer Lawrence to Star in A24’s ‘Why Don’t You Love Me?’ (more)

• ‘Shrek 5’ is set for a July 2026 release with Mike Myers, Eddie Murphy, and Cameron Diaz returning to reprise their iconic roles. (more)

• Hulu is rebooting ‘Dance Moms’ with a new coach, dancers, and mama drama, premiering Aug. 7. (more)

• Paramount is finalizing deals for a Robert Pattinson and Parker Finn remake of the 1981 horror film ‘Possession’ following a competitive bidding war. (more)

• Sam Raimi will direct and produce the horror thriller ‘Send Help’ for 20th Century Studios. (more)

• Halle Berry and Glenn Close join Kim Kardashian in Ryan Murphy’s new Hulu legal drama ‘All’s Fair,’ with all four serving as executive producers.​ (more)

• Matthew Chauncey is set to write S3 of Marvel’s animated series ‘X-Men ’97’ for Disney+, succeeding Beau DeMayo. (more)

• Aline Brosh McKenna is scripting a sequel to ‘The Devil Wears Prada,’ currently in early development at Disney. (more)

• Sam Worthington and Gugu Mbatha-Raw join Aaron Taylor-Johnson and Theo James in the thriller ‘Fuze,’ directed by David Mackenzie, with filming now underway in London. (more)

✅ Renewed & Cancelled ❌

• Prime Video has green-lit ‘Deadloch’ for S2. (more)

Business 🤝

• Fremantle and Roughcut TV have struck a first-look drama deal to develop new projects. (more)

• Jared Leto invests in generative AI video startup Captions, joining a $60M Series C round alongside major VC firms. (more)

Other News 🚨

• Freelance casting assistants are moving forward with a National Labor Relations Board election to gain union representation from the Teamsters. (more)