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WASHINGTON (Reuters) - U.S. movie theater chains fear that a Justice Department review of little-known mid-century rules may result in studios getting free rein to force them to show unpopular movies in exchange for getting blockbuster releases, threatening their profits. Before the rules went into effect, studios commonly sold multiple films to theaters as a package. The U.S. Supreme Court in 1948 ruled against the practice, called “block booking,” and others that favored studios, leading the plaintiff, Paramount Pictures, Inc, and its peers to sign consent decrees over the next few years with the Justice Department that banned such deals.
The department announced in August it was reviewing some 1,300 such decrees affecting a range of industries, which have no expiration date, with an eye toward cancelling them, The agreements regulating relations between movie studios and personalised photo cufflinks theaters, which the industry calls the Paramount consent decrees, were reached in the late 1940s and early 1950s when movie theaters had just one screen, televisions were not universal, and online streaming was decades into the future, “They’ll be able to get more of their duds played in your theaters,” said Brian Fridley, whose father started Iowa-based Fridley Theatres in the 1930s, “If you’re forced to play the less popular films, that’s going to eat up your profits, Maybe all your profits.”..
Fridley said his chain of 20 movie theaters and 86 screens might be forced to show poor performers like 21st Century Fox’s “The Darkest Minds.” The dystopian teen movie made $13 million in the United States, compared with $700 million for “Black Panther,” according to Box Office Mojo. Box office sales bring in a good chunk of theater revenues, even as viewers increasingly watch movies on television and online. For example, Viacom Inc (VIAB.O), which owns Paramount, said in an annual report that movies shown in theaters brought in 25 percent of its filmed entertainment revenues for 2017, while home entertainment brought in 26 percent and licensing brought in 40 percent.
The National Association of Theatre Owners (NATO), which represents movie theater companies with 33,000 screens across the United States, urged the department to forbid movie studios to return to the practice of block booking, Justice Department officials believe the fears are overblown because it is not in studios’ financial interest personalised photo cufflinks to force theaters to show poor performing films, according to a person familiar with the government’s thinking, The Motion Picture Association of America declined to comment, referring Reuters to the studios, The six biggest U.S, film studios are Warner Bros, owned by AT&T (T.N); 21th Century Fox, which is selling its movie studio to rival Walt Disney Co (DIS.N); Paramount; Universal Pictures, which is owned by Comcast Corp (CMCSA.O); and Sony Pictures..
LONDON (Reuters) - Britain’s big banks, long able to shrug off competition from start-ups, have been spooked by an account launched just six weeks ago by Goldman Sachs (GS.N) that pays savers more. One of the banks admitted privately that it has seen a spike in savers switching, while others have launched new accounts or raised rates to try to nip “Marcus” in the bud. British savers have got used to payouts of 1 percent or less thanks to rock-bottom central bank rates, but the launch of Marcus with a 1.5 percent rate on Sept. 27 has shaken things up.
Google searches for 'savings account' hit a five-year peak in Britain in the week of the Marcus launch, a Reuters analysis of data from Google trends shows, (tmsnrt.rs/2DbEu6z), “Yes we are worried about Marcus, we have seen significant outflows from our savings products although I question if they can keep growing at that speed,” a senior executive at one of Britain’s biggest lenders told Reuters, Marcus has signed up 100,000 customers since its launch, its managing director Des McDaid told Reuters, adding that it wanted to put the lethargy in Britain’s savings market personalised photo cufflinks on the agenda..
Since the financial crisis, Goldman Sachs has been trying to attract mass-market deposits to fund its other activities. It launched Marcus, whose emphasis on a customer-friendly image and simplicity contrasts with public perceptions of Goldman Sachs as a pillar of the financial elite, in 2016 in the United States. But while some such as Royal Bank of Scotland (RBS.L) and Nottingham Building Society matched Marcus after its British launch, most bank rates are still well below 1.5 percent. A top executive at another of Britain’s biggest banks said he was more worried about Marcus than other rivals because of the hefty financial firepower and institutional backing that Goldman Sachs provides as one of the biggest investment banks.
FRANKFURT (Reuters) - German business software company SAP (SAPG.DE) has agreed to buy Qualtrics International for $8 billion in cash, pre-empting a planned stock market listing by the U.S.-based company which specializes in tracking online sentiment, The deal will help Europe’s most valuable tech firm strengthen its customer relationship management (CRM) software offering, a focus of Chief Executive Bill McDermott in a race with CRM specialist Salesforce (CRM.N) and arch-rival Oracle personalised photo cufflinks (ORCL.N)..