In a speech, Wang pointed to the size and rapid growth of the Chinese market, saying that China is “the future of the development of the world film market.” He also touched on ambitions to “change the status quo of China’s lack of global film brands,” while counseling international players that “the first to cooperate with China will be the first to reap the benefits.” Now, some are asking, can China build a global film industry with influence on par with Hollywood? It’s possible, in theory, say analysts and industry insiders, but it will take more than a little time, talent and treasure, as well as trans-Pacific collaboration. “It’s not as simple as ‘If you build it, they will come,'” he said. “A studio is just a big tin shed with a bunch of special lighting in it. It doesn’t mean anything. What you need is talent to move out to China.” Ben Mogil, an analyst at Stifel Nicolaus, agreed. “The challenge would be attracting non-domestic talent,” said Mogil, who nonetheless noted that “Money overcomes a lot of things.” While China has plenty of investment capital, monetary incentives for international film production companies, including production cost rebates, are an area that needs to be improved, said Coote. “You have to make it worth their while,” he said. “In Australia, the government will cut you a 40 percent rebate. In Malaysia, it’s 30 percent. Censorship is also a factor. “How much does the political landscape impact the content that’s being produced?” asked David Bank, an equity research analyst at RBC Capital. “Hollywood is a pretty free market, so can you have success in content production without having an open and free media market?” Another question, Bank says, is whether China, with its ongoing push to increase its “soft power” and disseminate its own culture, can make films that will resonate with international audiences. “The global franchises that work are culturally neutral,” said Bank. “What culture does ‘Pirates of the Caribbean’ touch on?
Frederick’s of Hollywood Announces Receipt of “Going Private” Proposal
Joe Pugliese Steve McQueen 12 Years a Slave director Steve McQueen and supporting actress Lupita Nyong’o will receive the Hollywood Breakout Director Award and New Hollywood Award, respectively, at the17thannual Hollywood Film Awards, The Hollywood Reporter has learned exclusively. our editor recommends Oscars: Who Gains From ‘Foxcatcher,’ ‘Grace of Monaco’ and ‘Immigrants’ Bumps? (Analysis) The event, held on Oct. 21 at the Beverly Hilton, is the first awards show of the 2013 season.(The Hollywood Film Awards is owned by affiliates ofTHRparent company Guggenheim Partners.) Previous recipients of the Hollywood Breakout Director Award include Ben Affleck, Paul Haggis, John Patrick Shanley, Lee Daniels, Michel Hazanavicius and Dustin Hoffman. And previous recipients of the New Hollywood Award include Robert Pattinson, Gabourey Sidibe, Jennifer Lawrence, Felicity Jones and Quvenzhane Wallis. FILM REVIEW: ’12 Years a Slave’ McQueen, 43, is a British filmmaker who has heretofore earned considerable critical acclaim for his first two feature films, Hunger (2008), a drama about an IRA hunger striker which won the Camera d’Or at the Cannes Film Festival, and Shame (2011), a drama about a sex addict which won several prizes at the Venice Film Festival. (Both of those films star Michael Fassbender, who also plays a prominent part in 12 Years a Slave.) Nyong’o, 30, is a Mexican-born, Kenyan-raised and Yale School of Drama-educated actress. Heretofore best known as the star of MTV’s award-winning series Shuga, a Kenyan-set soap opera, she won the role of Patsey — a slave who receives particularly unkind attention from her master and his wife — in 12 Years a Slave shortly after her 2012 graduation from Yale. “It was like finding Scarlett O’Hara,” McQueen has said, noting that 1,000 girls auditioned for the part. Nyong’o will next star opposite Liam Neeson in Jaume Collet-Serra’s Non-Stop. 12 Years a Slave is a drama based on the remarkable true story of a free black man from the north who was deceived and sold into slavery in the south in mid-19th century America. In addition to Nyong’o and Fassbender, its cast includes Chiwetel Ejiofor, Sarah Paulson, Benedict Cumberbatch, Michael Kenneth Williams, Paul Dano, Paul Giamatti, Alfre Woodard, Garret Dillahunt, Adepero Oduye and Beasts of the Southern Wild stars Quvenzhane Wallis and Dwight Henry and Brad Pitt. The film had its world premiere at the Telluride Film Festival and then played again shortly thereafter at the Toronto International Film Festival, where it was awarded the prestigious Audience Award. Fox Searchlight will begin its platform release on Oct. 18. The Hollywood Film Awards are determined by founder and executive director Carlos de Abreu and an advisory committee.
“12 Years a Slave” Director Steve McQueen, And Actress Lupita Nyong’o To Be Honored At The Hollywood Film Awards
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Markets closed Watch Live Frederick’s of Hollywood Announces Receipt of “Going Private” Proposal Press Release: Frederick’s of Hollywood Group Inc. 9 hours ago 0.21 +0.03 HOLLYWOOD, Calif., Sept. 30, 2013 /PRNewswire/ –Frederick’s of Hollywood Group Inc. ( FOHL ) (the “Company”) announced today that on September 26, 2013, its Board of Directors received a non-binding proposal letter from HGI Funding LLC (“HGI Funding”), TTG Apparel, LLC (“TTG Apparel”), Tokarz Investments, LLC (“Tokarz Investments”), Fursa Alternative Strategies LLC (“Fursa”), and Arsenal Group LLC (“Arsenal”) (the “Consortium Members”), pursuant to which the Consortium Members proposed to acquire all of the outstanding shares of common stock of the Company not currently owned by them at a proposed price of $0.23 per share as part of a going private transaction, subject to certain conditions. The proposal represents a 26% premium to the then trailing ten day average closing price of the Company’s common stock. HGI Funding is an affiliate of Five Island Asset Management, LLC and the current holder of the Company’s Series B Convertible Preferred Stock; TTG Apparel is the holder of the Company’s Series A Convertible Preferred Stock, and together with Tokarz Investments, own approximately 25.9% of the outstanding shares of the Company’s common stock; and Fursa and Arsenal are controlled by William F. Harley, a director of the Company, and own, in the aggregate, approximately 43.5% of the outstanding shares of the Company’s common stock as of September 26, 2013. The Company’s Board of Directors has appointed Milton Walters, its sole independent director, to serve as the lead director in connection with the full Board’s review and consideration of the proposed transaction and the lead director must approve any proposed transaction. The Board of Directors cautions the Company’s shareholders and others considering trading in its securities that the Board of Directors has just received the non-binding proposal from the Consortium Members and that no decisions have been made by the Board of Directors with respect to the Company’s response to the proposal or the fairness of its terms. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. Forward Looking Statement Certain of the matters set forth in this press release are forward-looking and involve a number of risks and uncertainties. These statements are based on management’s current expectations or beliefs. Actual results may vary materially from those expressed or implied by the statements herein. Among the factors that could cause actual results to differ materially are the following: competition; business conditions and industry growth; rapidly changing consumer preferences and trends; general economic conditions; working capital needs; continued compliance with government regulations; loss of key personnel; labor practices; product development; management of growth, increases in costs of operations or inability to meet efficiency or cost reduction objectives; timing of orders and deliveries of products; risks of doing business abroad; the ability to protect our intellectual property; and the other risks that are described from time to time in the Company’s SEC reports. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise. About Frederick’s of Hollywood Group Inc. Frederick’s of Hollywood Group Inc., through its subsidiaries, sells women’s apparel and related products under its proprietary Frederick’s of Hollywood brand through 112 specialty retail stores, a catalog and an online shop at . With its exclusive product offerings including Seduction by Frederick’s of Hollywood and the Hollywood Exxtreme Cleavage bra, Frederick’s of Hollywood is the Original Sex Symbol. Our press releases and financial reports can be accessed on our corporate website at .