Capitol Films has picked up international sales rights to Edward Yang’s “A One and a Two,” the Taiwanese entry in the main competition at this year’s Cannes Film Festival.
News Corp.’s Star TV confirmed that it had acquired Sony’s 12.5% stake in the Channel V music network for an undisclosed amount.
The purchase increases Star’s ownership to 74.2%. The other Channel V owners include EMI with 12.5%, and BMG and Warner Music, each with 6.65%.
Channel V, which competes fiercely with MTV Asia, has reportedly lost $100 million since 1994. Sony wanted to increase its ownership stake but News Corp. wanted to keep control.
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Thai film “6ixtynin9” has taken the International Film Critics’ Fipresci award at the Hong Kong International Film Festival.
Directed by Penek Ratanaruang, the film previously appeared at the Rotterdam and Berlin film festivals.
It was produced by the Film Factory for Five Star Prods. Worldwide rights are being handled by Fortissimo Film Sales.
Exhibitors and distribs are pushing a proposal to restructure the taxation system of Magyar cinema and saddle theater owners with a modest 1% tax hike.
Backed by the state-funded Hungarian Motion Picture Foundation, this proposal is a compromise agreement between exhibs, distribs, U.S. lobby groups and the government.
Specifically, the new proposal levies a simple 15% tax against exhibitors based on box office results. This 15% total tax includes Hungary’s 12% value added tax (VAT) and a 3% additional tax that will be used to support Hungarian filmmakers.
Currently, exhibitors are responsible for paying the 12% VAT plus a 2% cultural tax to the state. By virtue of Hungary’s complicated taxation system, distributors are also currently paying about 1% tax on the net box office earnings of their titles.