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Deadline Owner Penske Media Buys Variety At Discounted Price

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VarietyPenske Media Corporation, the owner of Nikki Finke's Deadline Hollywood, has finalized a deal to purchase Variety -- a digital age story of a blog buying Hollywood's oldest trade paper in a bid to reverse the print publication's declining fortune. Deadline reported the sale.

The purchase price for the 107-year-old paper was not disclosed, but Reed Elseiver had for months struggled to sell Variety. The print publication's public profile and revenues have declined precipitously over the past five years.

Successive bidders had circled the asset, only to walk away from Elsevier's asking price of $40 million.

The price paid by Penske, ultimately the last bidder standing, was believed to be about $25 million. Reed Elsevier continually lowered its price, and then offered financing to the buyer, according to knowledgeable individuals. 

Among the prospective bidders who ultimately quit the auction were Ron Burkle Marc Lasry's Avenue. 

Penske purchased Deadline in June 2009 for a reported seven-figure payout to Finke, the site's founder as well as its sole editor and writer, plus a lucrative five-year employment contract.

The prospect of Hollywood's most vituperative journalist being brought into the same family as the controversy-averse trade publication struck many as an awkward union. 

Finke had been pushing hard for Penske to buy Variety, according to individuals with knowledge of  the deal. But her role at the Penske-owned Variety remains in question.

Finke does not appear in public and her interpersonal skills notoriously involve dressing down executives, threatening rivals and publicly brow-beating colleagues who win her disfavor. (When her own publisher Lynne Segall left to The Hollywood Reporter, Finke published a column suggesting that Segall had worsened the blogger's diabetes.) 

Finke could not be more different than Variety's current editor Tim Gray, a mild-mannered and accommodating veteran of the trade. 

Less than a decade ago Reed Elsevier put Variety on the auction block along with a group of more minor trade publications for $2 billion, but ended the sale when the bidding did not surpass $1 billion. In the interim, advertising has collapsed for many print publications, and Variety has faced stiff competition from digital rivals including Deadline and TheWrap, who have taken market share and proven more editorially aggressive. 

It is unclear whether the two brands will merge, but other Penske properties share content across their different channels -- Deadline often links to movie trailers released on Penske's YouTube channel, ENTV.

Also read: Variety Bleeds Talent, While Newsroom Morale Suffers

The Inglewood-based owner of Deadline and six other digital properties, including India.com and MovieLine, partnered with private equity firm Shamrock Capital Advisors to buy Variety.

Shamrock did not respond to calls and emails from TheWrap requesting comment.

Bidding for Variety started in the late spring and went through the summer before the 33-year-old Jay Penske, the eponymous CEO and son of automotive tycoon Roger Penske, finalized the deal.

Billionaire supermarket magnate Ron Burkle withdrew his offer in late August, the New York Post reported. Then, New York-based hedge fund Avenue Capital, owner of the National Enquirer, dropped out.

Both had reportedly offered less than $25 million.

The oldest of the Hollywood trades, Variety has been struggling with declining advertising and circulation for several years.

Also read: What’s Variety Worth and Who Will Buy It?

Besides facing increased competition from younger publications like TheWrap and Deadline, Variety has also had to compete with long-time rival the Hollywood Reporter, which relaunched its website and folded its daily print editions, launching a glossy weekly in its place.

Variety remains a profitable enterprise, despite struggling to compete in the 24/7 news cycle.

TheWrap has reported Variety is believed to earn $45 million in annual revenue and $6 million to $7 million in profit. But that is about half of what the trade brought in a decade ago.

In its heyday in the 1990s, Variety earned 30 to 40 percent profits, with annual revenues that once reached $90 million. 

SEE ALSO: Fandango's new plan for broadening the movie-going experience >



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The Musicians Union Sues Fox And Universal Over 'Simpsons' Theme Song

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homer simpson oh no

Be careful when you play the catchy "Simpsons" theme song.

Last week, the American Federation of Musicians sued both 20th Century Fox and NBC Universal for what they call improper use of music from the long-running cartoon series.

According to a complaint filed October 2 in Los Angeles by the union, Universal obtained a recorded music sound track from "The Simpsons" and used it a roller coaster attraction in its theme park in Hollywood without notifying the AFM.

The union claims this goes against a former agreement made with Fox when the AFM first recorded music for "The Simpsons."

In an excerpt from the agreement: 

"The Producer agrees that all music sound track already recorded, or which will be recorded prior to the expiration of this Agreement, will not be used at any time for any purpose whatsoever except to accompany the picture for which the music sound track was originally prepared." 

The AFM is suing for breach of contract agreement, seeking injunctive relief. The musician's union also wants damages for the musicians who recorded "The Simpsons" music.

However, according to Article 8A of the Agreement:

" … No additional compensation shall be payable for the reuse of any portion of the music sound track of a motion picture in the following circumstances: (a) When used for promotional, trailer, news or review purposes ...

Upon learning of any unauthorized use of either 'the making of …' or 'behind-the-scenes'-type promotional programs, the parties will jointly discuss appropriate steps to be taken to collect monies for such unauthorized use."

NBC Universal is claiming use of the soundtrack is solely promotional.

SEE ALSO: Check out the fairly unknown screenwriter set to pen the "Fifty Shades of Grey" film >

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Questlove Posted Pictures From The Star-Studded Wedding Of Amber Tamblyn & David Cross

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DJ Questlove

"Sisterhood of the Traveling Pants" star Amber Tamblyn, 29, wed comedian/"Arrested Development" actor David Cross, 48, over the weekend in a star-studded ceremony that included a yellow wedding dress, kayak to the alter, performance by Yo La Tengo and a custom cheese cake.

And A-list attendees such as Blake Lively, Ryan Reynolds, America Ferrera and Amy Poehler were all there to witness the affair.

Luckily, DJ Questlove of The Roots was also there to document the unconventional celebration by posting photos to his Instagram account with the hashtag #weddinginthewoods.

Check out some of the beautiful photos below:

"Bliss"Amber Tamblyn David Cross Wedding

"The Reynolds"Blake Lively Ryan Reynolds

Tamblyn was escorted from a kayak to the altar.Amber Tamblyn David Cross Wedding

"Ceremony"Amber Tamblyn David Cross Wedding

Cross pal Amy Poehler with Tamblyn's "Sisterhood of the Traveling Pants" co-star, America Ferrera.Amy Poehler America Fererra

Yo La Tengo performed during the reception, while Questlove served as the deejay.Yo La Tengo

"Cheese Cake"Amber Tamblyn David Cross Wedding

"Cut The Cake"Amber Tamblyn David Cross Wedding

To see more photos from the wedding on Questlove's Instagram, click here.

SEE ALSO: 'GMA' weatherman Sam Champion comes out by announcing his engagement to boyfriend >

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Here's Why 'Taken 2' Is Defying Critics And Doing So Well In Theaters

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liam neeson taken 2Warning: May be some small spoilers ahead.

Audiences couldn't wait for the return of Liam Neeson in the role of Bryan Mills in "Taken 2", and it showed. 

The highly critical reviews didn't stop the film from earning the top spot at theaters this weekend.  

The film exceeded expectations earning a massive $50 million last weekend, more than double its predecessor opening weekend. 

Despite its success, the sequel was missing some of the elements that made the first one a hit–smartly-executed hits and a takeaway one-liner (save one heated moment in a taxi cab between Neeson and his daughter)–so why did it do so well? 

1. History precedes it.  

Unsurprisingly, the second film in action franchises usually fares better than the original. A look at similar movies including "The Bourne Identity," "Transporter," follows this trend where the film's opening weekend nearly doubled that of the original. 

                                                       Opening Weekend                 Worldwide Box Office

"The Bourne Identity"                            $27.1 million                              $214 million
"The Bourne Supremacy"                      $52.5 million                              $288.5 million
"Transporter"                                        $9.1 million                                $43.9 million
"Transporter 2"                                     $16.5 million                              $85.2 million
"Taken"                                               $24.7 million                              $226.8 million
"Taken 2"                                            $49.5 million                                    n/a
"The Expendables"                               $34.8 million                              $103 million
"The Expendables 2"                            $28.5 million                              $84.4 million

jason bourne

One film that doesn't follow this model is the much-hyped "Expendables 2." The sequel, somehow starring nearly every action star save Neeson, earned nearly five million less than its predecessor opening weekend despite considerably better reviews and a Rotten Tomatoes score of 65%.

2. Familiarity 

"Taken 2" follows a simple "Don't fix it if it ain't broke" format.

It's the same film as the original down to the movie's pace and set up. If we could run the two movies side by side, you would see plenty of overlap: Mills showing up to visit his daughter, Kim, Mills and his daughter fighting over some trivial embarrassment (not allowing her to travel alone vs. not allowing her to see a guy alone), and, then there's Neeson playing the calm, cool collected type telling everyone to do the same and "stay focused."

There's even a scene with Mills' old buddies; however, instead of hanging around inside his apartment, they're gathered around a barbecue.

It feels like a basic sitcom episode setup, and if you enjoyed it the first time around, chances are you'll tune in again. 

Strangely enough, audiences punished "The Hangover 2" for following a similar format after its release last May saying it was the exact same film. Though the film nearly doubled the opening weekend gross of the first film, the sequel never outperformed the original domestically. (The film fared much better overseas.)

So far, other than the critics, there hasn't been a lot of viewer feedback venting on Neeson. Entertainment Weekly praised the film as "the same, but different." 

This brings us to point three.

liam neeson batman begins the dark knight rises3. Liam Neeson

The Neeson Season video wasn't created by chance.

The point of seeing "Taken 2" was never to see a brilliant sequel, rather, it was to see Neeson do what he does best: use his particular set of skills to off a bunch of men in the most creative ways possible. 

He brings this same "set of skills" to the table in every film: "Batman Begins," "Star Wars," "The Grey," and audiences are okay with that. 

While some of that magic was lost the second time around, (a car chase cannot substitute for all the jumping, running, and well-executed kills) we can always count that we're going to get Neeson's overt consistency. This is why, time after time, a majority of his films of the past year open, on average ,over $20 million

And, finally ...

4. It Actually Is Entertaining

Maybe "Taken 2" isn't as stunning, shocking, or surprising as the first–we have to listen to Mills' daughter go on and on about her inabilities to maneuver a taxi around the streets of Istanbul until Neeson delivers one of the only original memorable lines in the film: "Do you know how to shoot? No. Then drive."–however, the sequel wasn't a terrible rehash. 

We get Neeson using his CIA prowess to hunt down his abductors, protect his family, and save the day.

And, sure, the film wasn't perfect. "Taken 2" had a few plot holes, less Neeson kills than the first (an estimated 21 vs. 25–we counted), and two deaths near the end that sort of just "happened" (We're pretty sure he used his Jedi force powers from "Star Wars" to help him out.), but the film did its job. 

At the end of the day, people just want to see Neeson, and that's what the film provided.

SEE ALSO: 50 years of "Bond" babes then and now >

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Watch Skrillex Teach Richard Branson How To DJ

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Billionaire businessman Richard Branson may be the head of over 400 companies, record-setting kite surfer, an aspiring astronaut and exclusive island owner, but one thing he is not is a DJ.

Branson tested out his skills alongside the world's second-highest paid DJ, Skrillex, Saturday backstage at the Virgin Mobile FreeFest in Columbia, Maryland.

Branson tweeted, "Here's teaching me how to DJ at . Should I stick to the day job?!"

Judge for yourselves below:

SEE ALSO: The 10 highest-paid DJs in the world >

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Celebrities Are Selling At New York's Fancy Park Imperial To Avoid Obstructed Views

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park imperial

An ultimate selling point in any Manhattan apartment or condo is the view.

So it's no surprise that a new Extell Development tower on 57th Street, rises, residents—especially celebrities—are selling their apartments inside the once-flashy Park Imperial building, The Real Deal is reporting.

Celebrities such as the former "Law & Order SVU" star Christopher Meloni, Deepak Chopra, and Diddy have all listed their apartments in the past year.

The Park Imperial, located at 230 West 56th Street, once had views of the city and the Hudson River, but now at every exposure the views have been compromised, Susan Barkin, an agent who has done deals in the building, told TRD.

Meloni listed his and 60th-floor apartment for $12 million, with a bonus of a 2013 Porsche Panamera to any buyer who could sign a contract by June 1. Now, the place is on the market for $9.95 million. Chopra is trying to sell his 2-bedroom, 2.5-bathroom apartment for $3.6 million. And Diddy just listed his converted-one bedroom on the 66th floor for $8.5 million.

Even though the views have been hindered, the strength of the luxury market is driving buyers into the building, TRD noted. This year, two penthouses at the Park Imperial sold for $8.79 million and $7.89 million, respectively. The buyers remain anonymous.

DON'T MISS: Meet The Billionaire Foreigners Who Live In The World's Most Expensive Apartment Building

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Tons Of Celebrities Have Come Out In Support Of Mitt Romney

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jenna jameson

While typically a bastion of liberal support, a growing number of celebrities and entertainers have come out in support of Mitt Romney this elections. 

All of their reasons vary — some adamantly dislike Obama, others support Romney's plan for lowering taxes on higher-income Americans, and some are deeply religious — but all of them have gone on record supporting the former Governor of Massachusetts' bid for president. 

Here are the highest profile actors, musicians, and celebrities that have broken stride with the rest of the Hollywood crowd. 

"Dirty Jobs" Host Mike Rowe

Rowe, the host of the Discovery Channel's Dirty Jobs, came out to speak for Romney at a rally last week

The Ohio rally was a big win for the candidate. Romney was able to use Rowe's blue collar credibility and appeal to reach out to Ohio voters that may have dismissed him. 



Gene Simmons

The frontman of KISS, now a reality television star, Simmons backed Romney after dissing Newt Gingrich during the Republican primary. As reported by Breitbart, here's how Simmons' endorsement went:

Mitt Romney's got a chance ... and he's got the experience. He's run successful companies, knows how to make money and knows how to be taxed at 15 percent instead of 48 percent if he lived in Beverly Hills the way I get taxed," he says. "If you invest you should be taxed at 13-15 percent because if you invest you could also lose everything, so it's all fair.



Jenna Jameson

Jameson, one of the highest-grossing adult film stars, endorsed Romney earlier this year, providing what the New York Daily News called the most "unhelpful" endorsement of the campaign. 

Here's the quote:

"I'm very looking forward to a Republican being back in office," Jameson told a KCBS-TV reporter, champagne in hand. "When you're rich, you want a Republican in office."




See the rest of the story at Business Insider

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Louie's FX Series Is Taking A Long Break

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louis ck louie

FX series "Louie" will be taking an extended break and won't be back on the air until Spring 2014, per a tweet from FX Senior Vice President John Solberg.

Instead, C.K. announced during a conference call he'll use the hiatus to deliver "the very best season 4."

Currently, new episodes will begin shooting next fall to air in May 2014.

Typically, new seasons begin in June.

louis fx tweet

SEE ALSO: Why "Taken 2" is defying critics and doing so well at theaters >

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This Detroit Singer, A Flop In The U.S., Had No Idea He Was Bigger Than Elvis In Africa

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Rodriguez Searching for sugar man

"Searching for Sugar Man" is the true story of Sixto Rodriguez, a Detroit singer whose career flopped in the U.S., but who became a huge star in South Africa in the 1970s — even though he had no idea of his fanbase there.

"He was the soundtrack to our lives," says one South African music exec in the film trailer. "Everyone I knew had his records."

Rodriguez's first album "Cold Fact" in 1969 was a bomb in the U.S., "maybe selling six records," the trailer explains. But in South Africa, Rodriguez's lyrics about overcoming hardship made him "more popular than Elvis Presley and bigger than the Rolling Stones."

Searching for Sugar ManDespite his popularity, no one in South Africa really knew who Rodriguez was, until one day, word spread that he had committed suicide by lighting himself on fire while performing on-stage.

Decades later, Swedish filmmaker Malik Bendjelloul set out to uncover more information regarding the mysterious figure and his untimely death, but what he found instead was 70-year-old Rodriguez himself—living in Detroit and having no idea of his success overseas.

Knowing he had a huge story on his hands, Bendjelloul went to two of Britain's top producers of big-screen documentaries, Simon Chinn of "Man on Wire" and and John Battsek, to help him make and fund a feature-length documentary film.

But funding only covered a year of expenses and production on the film took three years.

When he had no money left to shoot with an expensive camera, Bendjelloul simply used the Super 8 app on his iPhone.

Sugar ManAccording to the Sundance Film Festival website:

"The lack of funding forced some things to be finished in a way that initially was not intended. The first year of the production there was some money coming in that was used to shoot with a Super 8 camera. But the last three years there was almost no money coming in and it was too expensive to finish the scenes with the same camera. In the end, it proved that a one dollar iPhone Super 8 app worked just as well. The bar scene in the beginning where the producers discover Rodriguez was, for example, shot with that app."

When the film was finally completed and submitted to Sundance, the film institute was blown away and chose the documentary to open the 2012 festival.

"Searching for Sugar Man" went on to win the festival's Special Jury Prize and Audience Awards at Sundance, the LA Film festival, the Tribeca Film Festival and Durban Film Festival.

Sony Pictures Classic released the film this July and it has so far earned $1,435,234 at the box office.

In August, Rodriguez sold out his show at New York's Highline Ballroom–his first major local concert since the film's release in July.

And on Sunday, Rodriguez and filmmaker Bendjelloul were featured on "60 Minutes." Watch the fascinating segment below:

And watch the "Searching for Sugar Man" trailer:

SEE ALSO: See how Clint Eastwood has aged over his 57-year-long career >

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The 8 Best Entertainment Apps

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Jay-Z Beyonce BarclaysLast month, we published the App 100, a collection of the best apps across all platforms.

Realizing that 100 apps is a lot to digest, we decided to break up the list by category.

Over the next several days we'll republish the individual sections to help you get through the best apps easier.

Here's our definitive list of the best entertainment apps you can get today.

HBO Go, for watching HBO shows on demand

HBO Go gives you unlimited access to all of the channel's award-winning TV series whenever you want them. You can also watch the hottest movies as they become available on the go.

Price: Free (with an HBO subscription)

Available on:AndroidiOS, and Kindle Fire



Hulu Plus, for watching on demand network shows a day after air

The Hulu Plus app offers unlimited streaming of all your favorite shows available on the service. 

Hulu will let you stream full seasons of popular network TV shows to just about any device, including some connected TVs and streaming boxes. 

Price: Free (with monthly $7.99 Hulu Plus subscription)

Available on:AndroidiOS, and Kindle Fire



Netflix, for streaming movies and TV shows

The Netflix app is a gorgeous way to stream your favorite TV shows and movies. A cool feature is the ability to start watching on one device and continue watching on another.

Price: Free (with subscription, staring at $7.99 per month)

Available on: AndroidiOSKindle Fire, and Windows Phone



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Scientists Explain Why Titanic's Jack And Rose Could Have Lived

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titanic kate jack

After the release of Titanic 3-D, James Cameron received a lot of mail telling him that Rose was so selfish.

Viewers think Jack and Rose could have both stayed afloat on that piece of wood until rescue came.

There were even pictures posted on the internet of how two people could fit in the same amount of space that held Rose in the movie. 

With the help of James Cameron, Discovery Channel's MythBusters set out to find if Jack really had to die.

The MythBusters made miniature versions of Jack and Rose and a replica of the white oak piece of wood she was floating on. These replicas are one-quarter scale versions of the real actors' size and weight.

See the whole clip >



So, the MythBusters asked: What would happen if Jack just climbed on?

See the whole clip >



With two people on the door, the couple starts to sink. Luckily the MythBusters are there to save them. Now let's see what happens with real people.

See the whole clip >



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Pandora Pays Drake Nearly $3 Million A Year

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drake

Streaming music might not be so bad for artists after all, as Pandora CEO Tim Westergren revealed today that some artists are making more than $2 million a year. 

While that's not across the board, even some of the lesser-known music artists on the service make at least $100,000 per year. 

"These are all working artists who live well outside the mainstream—no steady rotation on broadcast radio, no high profile opening slots on major tours, no front page placement in online retail," Westergren writes on Pandora's blog

Pandora pays over 55% of its revenue to artist royalties. The company will pay more than $10,000 to over two thousand artists each within the next year, and about $50,000 to over 800 artists. 

But the big-name artists, like Coldplay, Adele and Wiz Khalifa, each make more than $1 million a year. But what's really surprising is that hip-hop artists Drake and Lil Wayne each make a whopping $3 million a year. 

Despite what critics have said about the digital music industry, Westergren notes that these numbers show how much potential streaming music and Internet radio has.

He also called for reform of rules about how much Pandora has to pay compared to other music-delivery options.

"Not only is it bringing tens of millions of listeners back to music, across hundreds of genres, but it is also enabling musicians to earn a living," he says. "Since Pandora accounts for just 6.53% of all radio listening in the U.S., it seems fundamentally unfair that other forms of radio that represent much larger shares of U.S. radio listening pay substantially less to artists."

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Charles Schultz's Son & Grandson Are Penning 'Peanuts' For The Big Screen

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Charlie Brown

Blue Sky Studios issued a press release earlier today announcing an upcoming "Peanuts" movie.

The Charlie Brown-themed film is set to come out November 25, 2015, coinciding with the 65th anniversary of the "Peanuts" comic strip and the 50th anniversary of "A Very Charlie Brown Christmas," the first of numerous "Peanuts" TV specials. 

The movie, which has yet to be named, will be written and produced by creator Charles Schultz's son, Craig, and grandson, Bryan, while Steve Mariano will direct. Mariano co-directed 2008's "Horton Hears A Who!" and this year's "Ice Age: Continental Drift."

Twentieth Century Fox and Blue Sky Studios will be in charge of producing, animating and distributing the film. 

"We have been working on this project for years. We finally felt the time was right and the technology is where we need it to be to create this film," said Craig Schultz in the press release. "I am thrilled we will be partnering with Blue Sky/Fox to create a 'Peanuts' movie that is true to the strip and will continue the legacy in honor of my father."

Voice actors have not been chosen yet, but Schultz said they will most likely be looking for child actors instead of adult celebrities. 

At the comic strip's height, it ran in as many as 2,800 newspapers and currently runs in about 1,800 publications. It has also inspired about 50 animated TV specials, two brief animated TV series, and four previous feature films.

SEE ALSO: Why 'Taken 2' has been so successful >

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The Biggest Blockbuster Films Of All Time Are Not What You Think They Are

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titanic

Which movies are the biggest money makers of all time? Surely something from Spielberg or Cameron, right? Well, as we took a closer look at all the numbers, we found some surprising results.

The big screen can be big business. Top talent can earn tens of millions of dollars for—at most—a few months' work (plus a few minutes looking pretty and joshing around on Jay Leno's couch come premier time).

It's a pretty sweet deal. But that’s nothing compared to what the major studios who make, release, and market the films stand to earn. Despite all the criticisms of Hollywood from politicians and activists of all stripes, it is, in the end, a business. And like any business, they've become very adept at knowing how to part consumers from their money, and they do it in ways you may not even expect.

If we were to only consider global box office, the top grossing films of all time would both belong to writer/director James Cameron and his super duper mega-sized blockbusters Avatar and Titanic, which earned around $2.8 billion and $2.2 billion respectively. To put those numbers in some perspective, those are each higher than the 2011 gross domestic product (GDP) of the entire nation of Liberia.

That's a lot of money. But also consider that these numbers only factor in theatrical ticket sales. There's a number of ways for films to earn their ginormous expenditures back—everything from TV rights, home media sales (video, DVD, Blue-ray, etc.), broadcast rights, and even product placement.  For example, Avatar—in this age of digital downloads and piracy—still managed to earn close to $200 million in physical DVD sales. While 1997's Titanic generated $1.2 billion from video and DVD sales, plus an additional $55 million on the US broadcast rights alone (from HBO and NBC).

After all is said and done, both Avatar and Titanic earned close to $3.5 billion each (this does not take into account the recent limited-release Titanic in 3D, which cost $18 million to produce and went on to earn an additional global haul of $343.4 million, $100 million of which came from China alone). For a little global perspective: $3.5 billion would be more than the entire 2011 GDP of Belize or Greenland.

Of course, the above numbers don't account for the true success of a film. For example, while Avatar may be the current box office leader, it doesn't fairly compare to the "blockbusters" of different eras. First, you would have to consider inflation—the relative purchasing power of a dollar—in addition to the independent rise of ticket prices (as can be seen in the recent uptick in cost to see a 3D film). To complicate matters further, we have to throw a lot more variables in the mix when considering the global box office draw.

It's not an exact science. However, after taking into account global inflation, Turner Entertainment estimated that 1939's Gone With The Wind (a property it owns) actually earned $3.3 billion theatrically through its 73 years of global release. (This is GDP of Andorra territory.) This estimate may have some sway as the film can boast over 284 million admissions in the US alone, as compared to just under 131 million admission for the original release of Titanic. Furthermore—though they haven't released their exact methodology—Guinness World Records estimates that Gone With The Wind has actually earned more than $5.3 billion dollars. That would put it near the 2010 GDP of the Principality of Monaco.

But once everything is taken into account, that's still not the truly biggest blockbuster of all time. For this, we must also consider the parts of the movie business that have nothing to do with movies. Primarily, we're talkin' about the merchandising—all the lunchboxes, happy meal tie-ins, TV shows, and limited addition sugary cereals. And the undisputed champion of merchandising may surprise you.

Pixar's original Cars film earned a respectable, but not explosive $461 million during its original 2006 run. However, it has gone on to generate approximately $10 billion in global retail sales. This is, to date, the most of any single film (and is the sole reason for there being a sequel to otherwise unremarkable theatrical run). To put that number in perspective, $10 billion from toys and candy tie-ins is more than the 2011 GDPs of either Montenegro or Barbados.

Yes, there is indeed a lot of money to be made in Hollywood. But it's a bit of a trickier business than that. If you choose wrong on your next blockbuster, you not only endanger the careers of everyone involved, you can crater an entire studio around the mess of your horrible film.

Shed a tear for the embattled Hollywood mogul.

This post originally appeared at Bundle.

Don't Miss: Rent Kate Winslet's Chelsea penthouse for $30,000 a month

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Jimmy Fallon Mocks Mitt's Budget In 'Mr. Romney's Neighborhood'

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Jimmy Fallon as Romney

NBC late night host Jimmy Fallon welcomed viewers on Tuesday night to a little sketch he called, Mr. Romney's Neighborhood, and it's just like it sounds.

Spoofing Romney’s claim that he would balance the budget by cutting the small government subsidy to PBS, Fallon put on his best Romney-wear and plopped himself right in the middle of a nearly dead-accurate replica of the “Mr. Roger’s Neighborhood” set, complete with a moving toy train that he tied a stuffed dog to.

The Obama campaign has taken to mocking Romney’s shot at early childhood educational television in last week’s presidential debate — but so have late night talk show hosts.

Big Bird himself appeared on “Saturday Night Live” last weekend, telling “Weekend Update” host Seth Meyers that Romney’s comments earned him a lot of “tweets” (not on Twitter though — “I’m a bird, tweeting is how we talk,” he explained). Conan O’Brien put the statement in his sights with a video showing Romney gunning down Big Bird from a fighter plane.

The Obama campaign already has an ad out accusing Romney of wanting to crack down on “Sesame Street” while letting Wall Street run wild. For its part, the company behind “Sesame Street” says they’re non-partisan and would rather not become part of the presidential campaign.

The Romney campaign says the comment is a non-issue and chides the president for focusing on it, but Romney himself has been talking about cutting PBS funding for nearly a year. He told an audience in Iowa last December that he thinks “Sesame Street,” which is designed for children ages 2-5, could make plenty of money by selling advertisements. The Federal Trade Commission says that advertising to children under age 6 is “unfair and deceptive.”

This video is from “Late Night with Jimmy Fallon,” broadcast on Tuesday, October 10, 2012.

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The 15 Most Expensive Celebrity Engagement Rings

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jennifer aniston ring

Jennifer Aniston stepped out earlier this week finally revealing her huge engagement ring from fiancée Justin Thoreaux.

The couple got engaged August 10th during Thoreaux's birthday celebration in New York City.

The 43-year-old actress follows a long line of recently engaged stars from Miley Cyrus to Sofia Vergara. 

However, none of the engagement rings of late amount to the most expensive in Hollywood. 

Let's just say Beyoncé wears some serious bling and Jennifer Lopez doesn't sing "Don't be fooled by the rocks that I got" for nothing.

While Aniston's ring is estimated at a costly $500,000, hers isn't the priciest celebrity bling by a long shot.

(Tie) 12. Heidi Klum: $150,000

Specs: 10 carat yellow diamond

Klum ended her seven year marriage with Seal in January.



(Tie) 12. Carrie Underwood: $150,000

Specs: Yellow diamond

Underwood became engaged to hockey player Mike Fisher at the end of 2009.



(Tie) 11. Britney Spears: $200,000

Specs: Neil Lane 3.5-carat diamond

Spears got engaged to Jason Trawick in Las Vegas December 2011.



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Russian Press Claims Pussy Riot Offered $700 Million World Tour Deal By US Companies

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pussy riot

Following today's release of one member of the jailed Russian art group Pussy Riot on appeal, the Russian press is filled with wild rumors about the possibility of a lucrative worldwide Pussy Riot tour.

According to multiple press reports, the band could net around 600 million euros ($700 million) for around 100 shows, and have been offered $10 million contract to record an album.

"Our agency just blew up calls and letters from overseas promotional and production companies with offers to host concert tours for Pussy Riot after a member of the group was to be released from prison," a representative of live music company RU-CONCERT said, according to Life News. "Many of them are trying to use our agency to get the creator of the group."

Life News specifically mentions the US-based concert group Live Nation as being behind the news. We've reached out for comment and will let you know if they get back to us.

Of course, some have already noted that the economics of this rumored offer don't really seem to make any sense. However, if this concert actually goes through, ticket buyers should probably remember that Pussy Riot aren't really a band, and actually exist as more of an art collective. Don't go expecting Green Day.

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A Hollywood Assistant Just Sold Her Industry Parody Tumblr To CBS

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Lauren Bachelis

Five months after starting the popular #HollywoodAssistants blog, Berkeley grad Lauren Bachelis sold a TV comedy to CBS inspired by her industry parody Tumblr.

Bachelis launched the humorous blog in May while working as an assistant at Creative Artists Agency (CAA) before leaving for a job as assistant to "New Girl" creator/executive producer Liz Meriweather.

And now, just a few months later, Fred Savage—who has a production deal at CBS—will direct and executive produce the story of Bachelis paying her post-college dues at a top Hollywood agency.

"Bachelis will write and serve as supervising producer on the project, titled 20-Nothings, which revolves around five over-educated 20-nothings living in Los Angeles who do whatever it takes to achieve their Hollywood dreams," reports Deadline.

But this isn't the first time CBS has plucked a show idea from a popular blog or Twitter feed. In 2010, the network tried, and failed, with the short lived "$#*! My Dad Says," featuring William Shatner.

From there, the network announced a new series based off of another Twitter feed: "Shh ... Don't Tell Steve" (@shhdonttellsteve); however, decided to pass on it in March 2011.

To get a feel of what the comedy may encompass, we turn to Tumblr blog #hollywoodassistants:

hollywood assistants show

hollywood assistants

hollywood assistants blog 

hollywood assistants blog

hollywood assistants blog

SEE ALSO: 15 most expensive celebrity engagement rings >

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Elton John Loses Libel Case Against Rupert Murdoch's 'The Times'

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The Times

The libel case between the Murdoch-owned UK newspaper "The Times" and Elton John was decided today, with the UK High Court ruling in favor of the paper.

John sued "The Times" over an article published Jun. 21, 2012 with the headline "Screen Play: how movie millions are moved offshore" which said a former accountant of the singer, Patrick McKenna, was one of two main providers of film investment schemes in the UK. 

However, John claimed he never heard of McKenna. Rather, the man simply worked at an accounting firm he once employed.

In response, "The Times" ran a correction on Jun. 22 clarifying McKenna and John were never involved in business together.

John claimed the correction was not noticeable enough to clear his name from the tax avoidance scheme mentioned.

Instead, the singer claimed the article had damaging effects on his reputation in the "sphere of charity fundraising."

The UK High Court did not agree.

"The conclusion I have reached is that the words complained of are not capable of bearing the meaning attributed to them by the claimant or any other defamatory meaning," Justice Michael Tugendhat said according to the "Guardian."

SEE ALSO: QVC host faints on live TV >

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New Zealand Capital To Change Its Name In Honor Of 'The Hobbit'

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Wellington, the capital and second-most populous city in New Zealand, will re-name itself "The Middle of Middle-earth," for the three weeks leading up to and following the release of the first installment of "The Hobbit," the three-part sequel to the wildly popular "Lord of The Rings" trilogy, according to the AP.

While the naming is considered "unofficial," the city plans to sink approximately $900,000 into the November 28 premier. Mayor Celia Wade-Brown was on hand to announce the celebration, and lauded the current trilogy and the preceding one's positive affect on the Wellington film industry.

The $900,000 of taxpayer money towards a movie premier may seem a bit steep, but according to Wade-Brown, the Wellington film industry now employs 3,000 people — which many credit to the original "Lord of The Rings" trilogy.

And after the first films were released, New Zealand saw a boom in tourism related to the J.R.R Tolkien-based movies. The New York Times reported last week that six percent of all New Zealand visitors in 2004 —around 150,000 people — listed the movies as a “main” reason for traveling to New Zealand. 11,200 said "it was their only reason."

The New Zealand government will spend $50 million on "Hobbit-related tourism promotions" this time around.

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