• Paramount Global recently turned down former Paramount executive David Nevins’ offer to buy Showtime for more than $3 billion before the company decided to hold on to the premium cable network and streaming platform and merge it into Paramount+, according to people familiar with the situation. Other recent interested buyers reportedly included former Epix CEO Mark Greenberg, who previously offered $6 billion to buy the network two years ago. (The Wall Street Journal)
• AMC Entertainment Holdings Inc.’s quarterly earnings came in below Wall Street expectations as revenue dropped 15% to $990.4 million in the fourth quarter, down from $1.17 billion year over year, despite the success of “Avatar: The Way of Water.” The theater chain has tried to find ways to generate revenue, including a partnership with Zoom Video Communications Inc. to allow visitors to video chat in its locations as well as the recent launch of a branded popcorn line that will soon be sold at Walmart Inc. stores. (Variety)
• Amazon.com Inc. reportedly hired Hollywood executive Courtenay Valenti as the new head of film, streaming and theatrical for Amazon Studios and MGM, where she will report to Jennifer Salke starting today. Valenti, who left Warner Bros. Pictures last year, will be in charge of delivering “a well-rounded selection of tentpoles, prestige films, and genre fare,” according to a memo Salke sent to staff. (The Hollywood Reporter)
  

Warner Bros. Discovery might be ‘the new Disney’ as analysts turn bullish

Yahoo! Finance

Newsom rescinds California’s COVID-19 state of emergency, marking an end to the pandemic era

Taryn Luna, Los Angeles Times

California’s COVID-19 state of emergency officially ends Tuesday, bringing a symbolic close to one of the most challenging chapters of state history and of Gov. Gavin Newsom’s political career.

Endeavor Delivers Solid Q4 and Full-Year 2022 Gains as UFC Grows and Debt Load Drops

Cynthia Littleton and Todd Spangler, Variety

CEO Ari Emanuel says company is “well positioned” in the event of a writers strike.

Paramount CFO: Streaming Content Spending Could Come in Below $6B Target In 2024

Georg Szalai, The Hollywood Reporter

The Hollywood giant’s focus is on “starting to deliver on the path to profitability of streaming,” Naveen Chopra emphasized, reiterating that 2023 will be the peak year in streaming investment.

Cinedigm Buys Christian Cinema Streaming Service, Dove Movie Review Site

Etan Vlessing, The Hollywood Reporter

The deals get the digital media company deeper into the faith and family content market.

Penguin Random House Announces New Leadership After a Turbulent Period

Elizabeth A. Harris, The New York Times

The country’s largest publisher has had a rocky few months since a deal to buy a rival fell through, and some of its top executives left.

Burny Mattinson, Disney’s Longest-Serving Employee and ‘Beauty and the Beast’ Animator, Dies at 87

Charna Flam, Variety

Burny Mattinson, a Disney animator, director, producer and story artist, died on Monday, Feb. 27, in Canoga Park, Calif., following a short illness. He was 87.

The Oscar universe belongs to ‘Everything Everywhere’

Jake Coyle, The Associated Press

They dreamt up universes of hotdog fingers, googly-eyed rocks and “Raccaccoonie.” But Daniel Kwan and Daniel Scheinert, in this world or another, never imagined the kind of runaway success “Everything Everywhere All at Once” would have on the Oscar trail.

HBO Max to Showcase a Big Hunk o’ Elvis Movies Just in Time for Oscar Voting

Steve Pond, The Wrap

The streaming service’s Elvis Presley Collection, which premieres on March 1, includes eight movies in honor of the Baz Luhrmann film’s eight nominations.

Nicolas Cage’s ‘Renfield’ to World Premiere at Overlook Film Festival

Julia MacCray, Variety

Nicolas Cage and Nicholas Hoult’s vampire horror-comedy “Renfield” will get its world premiere at the Overlook Film Festival on March 30.

Utopia, Sumerian Buy Stephen Dorff-Led Sundance Sci-Fi Thriller ‘Divinity’

Manori Ravindran, Variety

Utopia and Sumerian have acquired worldwide rights to Eddie Alcazar’s Sundance-premiering “Divinity.”

‘Super Mario Bros. Movie’ Opening Earlier This Spring

Anthony D’Alessandro, Deadline

The highly anticipated Illumination Entertainment/Universal movie The Super Mario Bros. Movie will be opening on Wednesday, April 5 around the world before Easter weekend instead of Good Friday, April 7.

The Weeknd, Jenna Ortega And Barry Keoghan To Star In New Film From Trey Edward Shults

Justin Kroll, Deadline

In what would mark his acting debut in a feature film, Abel “The Weeknd” Tesfaye is teaming with Trey Edward Shults on a new untitled film as he is set to star along with Jenna Ortega and Barry Keoghan.

Jenna Fischer Joins Paramount’s ‘Mean Girls’ Musical Movie

Anthony D’Alessandro, Deadline

Primetime Emmy nominee Jenna Fischer is boarding the ensemble cast of Paramount Pictures’ new Mean Girls film based on the Tony-nominated Broadway musical in the role of Ms. Heron, Cady Heron’s mom.

Daisy Edgar-Jones, Jacob Elordi and Diego Calva to Star in Historical Drama ‘On Swift Horses’

Harper Lambert, The Wrap

The film will be distributed by Ley Line Entertainment and FirstGen Content.

Danny Pudi Dishes on the Long-Awaited ‘Community’ Movie

Matt Wilstein, The Daily Beast

Danny Pudi discusses reuniting with Alison Brie in both “Somebody I Used to Know” and the “Community” movie, and “struggling” to find his way after their iconic sitcom ended.

Disney TV Reshuffle: Dana Walden Makes First Big Moves as John Landgraf, Simran Sethi Expand Duties

Brian Steinberg, Variety

FX chief John Landgraf and ABC programming head Simran Sethi will expand their duties under an executive shuffle at Disney’s TV operations, one of the first big moves under Dana Walden, who was assigned responsibility for the company’s TV networks after Bob Iger returned as Disney’s CEO.

Hearst Ups TV Chief Jordan Wertlieb to COO, Michael Hayes Named President of Hearst TV

Alex Weprin, The Hollywood Reporter

Wertlieb succeeds Mark Aldam, who will shift to an advisory role.

Peacock And Reelz Strike Unusual Carriage Deal Bringing Linear Channel And On-Demand Programming Like ‘On Patrol: Live’ To NBCUniversal Streaming Outlet

Dade Hayes, Deadline

In a sign of the times, Peacock and independent network Reelz have struck an unusual carriage deal putting the linear channel and on-demand programming onto the NBCUniversal streaming service.

CW Acquisition Has Already Paid For Itself, Nexstar CEO Perry Sook Says

Dade Hayes, Deadline

Nexstar CEO Perry Sook said the company’s acquisition of the CW has already paid for itself in terms of adding muscle to the company’s distribution negotiations.

TikTok and YouTube Creators Come to TV With New Roku Deal

Gillian Follett, Ad Age

Jellysmack and the Roku Channel launched two new channels yesterday, bringing 17 creators to TV. 

Netflix Raises Curtain on ‘Stranger Things’ Play

Sarah Krouse, The Wall Street Journal

Stage play based on Duffer brothers’ series is a first for the streaming service.

Netflix is making a stop-motion Pokémon series

Charles Pulliam-Moore, The Verge

Netflix’s new Pokémon show will be a stop-motion adventure set in a luxurious hotel just for pokémon.

‘Dune’ Prequel Series Loses Director and Star Amid Further ‘Creative Changes’

Natalie Oganesyan, The Wrap

Johan Renck and actor Shirley Henderson’s departures follow ”The Sisterhood“ creator Diane Ademu-John’s exit as co-showrunner last November.

Savannah Guthrie exits ‘Today’ mid-broadcast and tests positive for COVID-19 — again

Christi Carras, Los Angeles Times

“Today” co-anchor Savannah Guthrie abruptly exited the morning program mid-broadcast on Tuesday and tested positive for COVID-19.

TikTok to set one-hour daily screen time limit by default for users under 18

Catherine Thorbecke, CNN

TikTok announced Wednesday that every user under 18 will soon have their accounts default to a one-hour daily screen time limit, in one of the most aggressive moves yet by a social media company to prevent teens from endlessly scrolling.

Dish Says Cyberattack Caused Internal Systems Outage, Warns Personal Info May Have Been Stolen

Todd Spangler, Variety

Dish Network is working to recover from a cyberattack that disrupted its internal servers and customer-service operations — and said the hack may have resulted in the theft of personal information.

Red Carpet Influencers: Behind a Lucrative (and Growing) Niche for Creators

Kirsten Chuba, The Hollywood Reporter

As premieres become top-shelf content in their own right, creators enlisted by studios to hype events carve out steady gigs: “I went from literally working part-time for like $15 an hour to actually being able to pay my bills and pay rent.”

Hasbro Launches Clue Immersive Instagram Murder Mystery Game Series

Abbey White, The Hollywood Reporter

The experience, which kicked off at an exclusive event in New York Tuesday night hosted by “Crime Junkie’s” Ashley Flowers, will serve as the first global online iteration of the classic murder mystery game.

Gamers are fixing a video game ‘taken over’ by hackers

Lorenzo Franceschi-Bicchierai, TechCrunch

Activision’s “Black Ops III” has serious vulnerabilities that have prompted two developers to fix the game on their own.

McDonald’s Cardi B and Offset Promotion Draws Pushback From Some Restaurant Owners

Heather Haddon, The Wall Street Journal

Some McDonald’s locations aren’t promoting the hip-hop stars’ new meal, franchisees say.

Ready to dance? ‘Naatu Naatu’ from ‘RRR’ is coming to Oscars

Lindsey Bahr, The Associated Press

Break out those suspenders and dancing shoes, M.M. Keeravaani’s joyously energetic anthem “ Naatu Naatu ” will be performed at the Oscars, the show’s producers said Tuesday.

How Producers and Composers Found a Balance Between Tradition and Afrofuturism on ‘Black Panther’

Tara Catherine Reid and Larisha Paul, Rolling Stone

Composer Ludwig Göransson, producer Sounwave, and Senegalese musicians Baaba Maal and Massamba Diop map out the creation of “Black Panther”’s score and official soundtrack.

J. Cole and Drake to Headline Dreamville Festival 2023

Allison Hussey, Pitchfork

Usher, Burna Boy, Sean Paul, City Girls, and more are also on the bill for the Raleigh festival.

Evan Rachel Wood says she didn’t pressure former Marilyn Manson accuser into making claims

Doha Madani and Diana Dasrath, NBC News

Wood filed an opposition declaration to testimony from a former accuser of Marilyn Manson, including screenshots of the woman reaching out to her on social media.

Why Music Catalog Investors Are Finally Warming to Hip-Hop

Elizabeth Dilts Marshall, Billboard

Recently announced sales of music assets by Dr. Dre, Juice WRLD and Future are fueling investor interest in hip-hop song rights and catalogs, prompting skeptics of the genre’s near-term value to take a fresh look, sources in the music publishing and valuation industry say.