Sony sold 'Greyhound' to Apple for $70 million, but this deal won't become the norm for the studio
to next year in the wake of the Covid-19 pandemic. The only exception is the Kevin Hart drama "Fatherhood," which was initially set to arrive in January 2021. It has been moved to Oct. 23, 2020.
The World War II battleship drama "Greyhound," which cost around $50 million to make and was written by Hanks, was uprooted from its June 19 release date earlier this year due to movie theater closures. Unsure of when theaters would reopen and concerned that the studio would have a hard time finding a new slot for the film among other delayed films,
The deal was approved by Hanks and gives Apple the streaming rights to the film for 15 years. Sony retained the right to distribute the film in China. Vinciquerra balked at the possibility of Sony releasing movies on-demand and in theaters simultaneously, something that"We think that theatrical release is vitally important to the film industry and to generating the most revenue and profit," Vinciquerra said. "You know we just had not seen models where that kind of release schedule will benefit the profitability and the efficacy of major productions.
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