National Entertainment
Disney closes $71B deal for Fox entertainment assets
Disney has closed its $71 billion acquisition of Fox’s entertainment business, putting “Cinderella,” ”The Simpsons,” ”Star Wars” and “Dr. Strange” under one corporate roof.
The deal is likely to shake up the media landscape. Among other things, it paves the way for Disney to launch its streaming service, Disney Plus, due out later this year. It will also likely lead to layoffs in the thousands, thanks to duplication in Fox and Disney film-production staff.
By buying the studios behind “The Simpsons” and X-Men, Disney aims to better compete with technology companies such as Amazon and Netflix for viewers’ attention – and dollars.
Disney needs compelling TV shows and movies to persuade viewers to sign up and pay for yet another streaming service. It already has classic Disney cartoons, “Star Wars,” Pixar, the Muppets and some of the Marvel characters. With Fox, Disney could add Marvel’s X-Men and Deadpool, along with programs shown on such Fox channels as FX Networks and National Geographic. Fox’s productions also include “The Americans,” ”This Is Us” and “Modern Family.”
The deal helps Disney further control TV shows and movies from start to finish – from creating the programs to distributing them though television channels, movie
Disney CEO Bob Iger said in an earnings call in February that Disney Plus and other direct-to-consumer businesses are Disney’s “No. 1 priority.”
Cable and telecom companies have been buying the companies that make TV shows and movies to compete in a changing media landscape. Although internet providers like AT&T and Comcast directly control their customers’ access to the internet in a way that Amazon, YouTube and Netflix do not, they still face threats as those streaming services gain in popularity.
AT&T bought Time Warner last year for $81 billion and has already launched its own streaming service, Watch TV, with Time Warner channels such as TBS and TNT, among other networks, for $15 a month.
In addition to boosting the Disney streaming service, expected to debut next year, the deal paves the way for Marvel’s X-Men and the Avengers to reunite in future movies. Though Disney owns Marvel Studios, some characters including the X-Men had already been licensed to Fox.
Disney also gets a controlling stake in the existing streaming service Hulu, which it plans to keep operating as a home for more general programming. Family-friendly shows and movies will head to Disney Plus.
No pricing has been disclosed for Disney Plus. The streaming service will feature five categories of material: Disney, Pixar, Marvel, Star Wars and National Geographic. Disney charges $5 a month for ESPN Plus, a service that offers programming distinct from the ESPN cable channel.
Meanwhile, Fox Corp. — the parts of 21st Century Fox that are not part of the deal, including Fox News, Fox Sports and Fox Broadcasting — started trading on the Nasdaq under the “FOX” and “FOXA” tickers on Tuesday.
Mae Anderson, The Associated Press
Alberta
Province adds $335 million over three years to attract more investment from Hollywood
Action! for Alberta’s film and television industry
Alberta’s screen-based sector has momentum, and Alberta’s government is helping to make the province a magnet for the job-creating film and television industry.
In 2020, Alberta’s government launched the Film and Television Tax Credit, causing the province’s film and television industry to grow in size and reputation. Since then, Alberta has attracted 129 productions with a total production value of $1.7 billion. This growth has resulted in approximately 9,000 direct and indirect jobs for Albertans.
To keep this momentum going, Alberta’s government continues to make changes to the program and increase investment in it. One year after the tax credit was launched, the cap was raised, resulting in a doubling of the province’s film and television sector. Now, Alberta’s government is increasing its investment to a total of $335 million over three years to continue attracting the attention and investment dollars of Hollywood.
“Alberta is experiencing exponential growth in our film and television sector, and we are well on our way to becoming a top Canadian jurisdiction for producers from around the world. Since the introduction of the Film and Television Tax Credit, the film and television sector in Alberta has doubled. Productions reach every part of Alberta – big cities, small towns and rural locations – and use local resources, businesses, accommodations and contractors, supporting thousands of jobs.”
As the province’s film and television industry grows, so does the quality and number of Alberta-made productions. To help grow and promote local talent and productions, Alberta’s government is also doubling the funding to the Alberta Made Screen Industries Program. This funding will support local producers and attract productions from around the world to set up shop in Alberta.
“Alberta-made film and television productions showcase Alberta’s unique culture, breathtaking landscapes and stories to audiences across the globe. We are increasing our support to smaller productions because they provide a unique Alberta-made training ground for emerging talent and create local, highly skilled workers in the sector.”
The Film and Television Tax Credit and Alberta Made Screen Industries Program work together to showcase the beauty and diversity of Alberta, create jobs, diversify the economy and support hospitality, service and tourism in the province. These targeted incentives to the film and television industries are helping to ensure Alberta remains the economic engine of Canada for years to come and the next film and television hub.
“The tax credit is central to the success of the industry. This is a competitive industry globally, and here in Alberta we’re fortunate we had the cap removed. Now we can see productions with budgets from $100,000 to well over $100 million. Now that we have a robust production environment, there are more opportunities for people to have well-paying creative jobs.”
“The Alberta government has provided supports for the film and television industry that provide certainty. It gives us more flexibility in how we’re moving forward in our film and television work and the way that we’re running our businesses.”
“Seeing the increase to the Alberta Made Production Grant in the last budget has been fantastic. It will help grow the local industry, which means so much to local performers because that’s where they build their resumés. It allows them to be a working performer, and not take side jobs or a day job somewhere else, and really focus on their craft.”
Quick facts
- According to Statistics Canada data:
- Every $1 million of production activity in the screen-based production sector creates about 13 Alberta jobs.
- Every $1 million of government investment under the Film and Television Tax Credit program is expected to support about 85 Alberta jobs.
- The film and television industry is experiencing significant growth nationally and globally.
- Every year, Alberta graduates more than 3,000 creative industry professionals from its post-secondary institutions.
- The production workforce has grown 71 per cent from 2017, or by about 4,000 workers across all positions.
- Alberta’s Film and Television Tax Credit supports medium- and large-scale productions with costs over $499,999 through a refundable tax credit on eligible Alberta production and labour costs to corporations that produce films, television series and other eligible screen-based productions.
- The Alberta Made Production Grant supports productions with a budget of up to $499,999.
- The Alberta Made Screen Industries Program, through the Alberta Made Production Grant, supports smaller productions that do not qualify for the tax credit, covering 25 per cent of eligible Alberta production costs to a maximum of $125,000.
- Every $1 investment in the Alberta Made Production Grant program generates an additional $4 in economic return.
Alberta
Edmonton to host “Road to the JUNOS Concert Series” leading up to Juno Awards week
From Explore Edmonton
Road to The JUNOS Concert Series Builds Excitement to JUNO Week.
Access and Diversity Key for Fans and Artists.
The JUNOS 2023 Host Committee is excited to announce an Edmonton-based concert series, titled Road to The JUNOS, as a lead-up to The 52nd Annual JUNO Awards Broadcast and JUNO Week from March 9-13.
The concert series will be set in small, intimate venues around Edmonton and feature local and regional artists who one day may end up on the JUNOS stage. Road to The JUNOS is a collaboration between the JUNOS 2023 Edmonton Host Committee, CBC Music and Explore Edmonton. It aims to provide excitement and create momentum leading into Canada’s biggest celebration of music.
The 10-show concert series will run from Monday, February 6 through Tuesday, February 28 at local venues in Edmonton. Of note, the artists playing these events come from a wide variety of backgrounds and genres and offer an opportunity to see some of Canada’s newest and most exciting talent. Fans can be a part of an intimate JUNOS concert with an affordable advance ticket price of only $10.
Road to The JUNOS is possible thanks in part to federal funding through PrairiesCan’s Tourism Relief Fund. This Fund is positioning Canada as a destination of choice for domestic and international travel. PrairiesCan administers the Fund in Alberta.
“Edmonton is a vibrant and dynamic cultural hub and our government’s support for Road to The JUNOS will bring that experience to visitors from across Canada and around the globe. Through the Tourism Relief Fund and our partnership with organizations such as Explore Edmonton, communities across Canada will capitalize on the jobs and economic activity generated through Edmonton’s growing tourism industry.”
– The Honourable Dan Vandal, Minister for PrairiesCan
“Road to The JUNOS is an important step in positioning Edmonton as an all-season destination and celebrating our community’s business and arts districts. I’m proud to see our government supporting Edmonton to build on its leadership in arts and culture while strengthening local tourism activity that benefits businesses in our city.”
– The Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance
“Road to The JUNOS is an exciting opportunity to grow Alberta’s music industry, showcasing local talent to visitors from all parts of Canada. The Alberta government is proud to support this series of concerts that features Alberta’s talent on stage as well as the venues, promoters and other music professionals.”
– The Honourable Jason Luan, Alberta Minister of Culture
“Canada has a long history of producing exceptionally talented musicians. The Road to The JUNOS concert series hopes to help give a platform to some of our up-and-coming artists and audiences a chance to say ‘we saw them when’.”
– Aimée Hill, co-chair, 2023 Host Committee
“Explore Edmonton is proud to support The JUNO Awards in March and we are delighted to be a part of this grassroots concert series. Promoting our local music venues, supporting talented Canadian musicians, and giving Edmontonians quality music experiences at an affordable price is such an important piece to the whole JUNOS experience. And we get to show off a little for the rest of Canada!”
– Traci Bednard, CEO of Explore Edmonton
The JUNOS Experience starts here. For more information and to buy tickets, visit: https://edmonton.junoawards.
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