International News; Update

Argentina Currency Crisis Stops Hollywood from Exporting Profits

 

Hollywood studios have been unable to take tens of millions of dollars out of Argentina for roughly two years, a victim of the country’s ongoing financial crisis, Variety has learned.

It’s an issue that plagues all U.S. companies, but is particularly problematic to the entertainment business as it has struck one of the biggest markets for film in Latin America.

 

Click the link below for more about this topic!

 

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Equity Crowd Sourcing Independent Films

With the success of donation based funding through companies like KickStarter and Indiegogo, 

Check out this great article on Indiewire that showcases the funding campaigns for 2014 Sundance selections:

http://www.indiewire.com/article/how-did-the-2014-sundance-film-festival-filmmakers-crowdfund-if-at-all

I’m very excited to see the expansion of funding implemented through the JOBS Act to include equity crowd sourcing and the companies that are creating matching funds. Check out this article on Deadline:

http://www.deadline.com/2014/03/tom-hanks-a-hologram-for-a-king-links-with-crowdfunding-start-up-big-ticket-investors/

This type of funding opens up film financing to a broader audience  and more investors will increase the success rate of getting independent projects off the ground! 

Godzilla; Importance of a Signed Agreement

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Certain producers won a small battle in the dispute surrounding the upcoming Godzilla feature film being produced by Legendary Pictures.

Legendary moved to compel arbitration, citing a clause in an unexecuted draft of an agreement. The CA Appeals court refused to compel arbitration based on the fact that the draft agreement had not been executed, despite containing a binding arbitration clause.

If I had to guess, the producers will be offered a healthy sum of money to put this one behind them. The lesson to be learned, make sure you get signed documents.

Catch the full article here: http://hosdi.eu/1f3OIio

S.

Filmmaker Desperation Leads to Fraud Conviction

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Daniel Adams has just been freed from prison.

If you recall, Adams was one of the first to be incarcerated for committing fraud when applying for state production tax incentives.

For the full article, go to: http://hosdi.eu/1ftXh5U

S.

Tarantino: Update

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Gawker has responded to the Tarantino Lawsuit claiming copyright infringement.

If you recall, QT’s script “The Hateful Eight” was leaked and QT threw a fit. He claimed that he will forego the project and instead just publish the script in a manuscript format.

For those of you who are interested in the legalities of Gawker’s defense, a motion to dismiss asserts that Gawker, the defendant in the suit, is not subject to the personal jurisdiction of the CA courts.

For more on the case: http://hosdi.eu/1hzmXFH

S.