The Paramount Pictures Thread | Skydance will not buy out the studio

[PlatnumRoyce]

5 hours ago, Human said:

Wait, is the 400M budget for MI8 confirmed?  Last I heard that was just a rumor.

I highly doubt it. I think the most important anecdote comes from last year's articles on MI7's budget overruns. Look at the baseline budget.

 

Quote

The budget headaches reached a crescendo last summer when “Mission: Impossible” distributor Paramount was faced with shouldering roughly $50 million in overages by itself. The issue was that co-producer Skydance had already met its cap in terms of financial contributions, according to two sources.  They declined to exceed their contractual requirements, around $240 million, and pony up the additional funds that Cruise and McQuarrie said were needed to complete the movie. - https://variety.com/2022/film/news/mission-impossible-7-budget-tom-cruise-1235173816/

Given MI7 under-performed, why would MI8 get a bigger greenlight budget beyond the generic way costs have increased due to inflation and any escalators built into existing contracts? I can imagine costs got out of control but I can't see how it got to that degree. 

[Warmaster506]

Nice. Now give me a Star Trek war film.

[Alexander]

1 hour ago, PlatnumRoyce said:

I highly doubt it. I think the most important anecdote comes from last year's articles on MI7's budget overruns. Look at the baseline budget.

 

Given MI7 under-performed, why would MI8 get a bigger greenlight budget beyond the generic way costs have increased due to inflation and any escalators built into existing contracts? I can imagine costs got out of control but I can't see how it got to that degree. 

MI8 started filming in March '22.

[filmnerdjamie]

2 hours ago, Macleod said:

Would be happy if Ellison/Skydance boot "new Trek producer" Kinberg like it didn't even happen!  

 

By the time the i's are dotted, the t's are crossed and Ellison is handed the keys, I imagine quiet a few projects in the pipeline - including those announced months ago at CinemaCon - will go away.

[dudalb]

12 hours ago, cookie said:

Yeah, Skydance management should really be taking a hard look at...

 

*checks who's producing MI8*

 

...Skydance management.

I still think some Skydance Mnagers are going to have some explaining to do to their colleagues as to why MI8 went way over budget. 

[dudalb]

4 hours ago, Warmaster506 said:

Nice. Now give me a Star Trek war film.

A film version  of the last three Seasons of Deep Space Nine ?

[dudalb]

5 hours ago, PlatnumRoyce said:

I highly doubt it. I think the most important anecdote comes from last year's articles on MI7's budget overruns. Look at the baseline budget.

 

Given MI7 under-performed, why would MI8 get a bigger greenlight budget beyond the generic way costs have increased due to inflation and any escalators built into existing contracts? I can imagine costs got out of control but I can't see how it got to that degree. 

Bad Management and, frankly, an expectation on the part of McQuarrie and Cruise they could overspend and the studio would have no choice but to bail them out.

Things might change now that studios , with the loss of revenue from the coming of streaming, have to cut costs and are not going to be an indulgent as in the past. I suspect they are going to keep a much stricter eye on weekly expendentures on films then they have in the past..

Of course, the ultimate exmaple of a film gone totally out of control is the 1963 Cleopatra. THat is still the runaway masssively overbudget film by which are others are judged.

[dudalb]

6 hours ago, Macleod said:

Rumor city.  Not based in any reported facts from the trades, whatsoever.  

The 400 Million budget is just rumor, but that the film has gone way overbudget  is pretty much established,.  iMyu won wild ass guess is it will end up north of 300 million, but near 400 Million. Which would still be a sorry comment on the state of budget management by SKydance and Paramount.

[dudalb]

6 hours ago, Macleod said:

Rumor city.  Not based in any reported facts from the trades, whatsoever.  

The 400 Million budget is just rumor, but that the film has gone way overbudget  is pretty much established,.  iMyu won wild ass guess is it will end up north of 300 million, but near 400 Million. Which would still be a sorry comment on the state of budget management by SKydance and Paramount.

 

6 hours ago, Macleod said:

Would be happy if Ellison/Skydance boot "new Trek producer" Kinberg like it didn't even happen!  

As along time Trek fan, I agree. Why theypoicked him I don;t know given his recent string of failures. Kinberg of 20204 is not the Kinberg of the early X men films.

[Warmaster506]

13 minutes ago, dudalb said:

A film version  of the last three Seasons of Deep Space Nine ?

That would fucking rule

[Mojoguy]

So HAPPY Skydance and not Amazon is buying Paramount. I swear Amazon wants to burn movie theaters to the ground just so they could stream movies on their streaming service.

 

Still pissed the Knives out sequel was only in theaters for a week because of Netflix reasons.

 

Paramount would have died under Amazon like how FOX has died under Disney. It would have been one less major film studio.

Edited June 4 by Mojoguy

[dudalb]

25 minutes ago, Warmaster506 said:

That would fucking rule

Agreed, the last three season of DS9 gave Star Trek fans something they had wanted to see for a long time; The federation in a full scale war for it's survival.

It had me hooked with the "23RD Century Pearl Harbor" which begun the war.

[Insomnia]

So happy Skydance won out here! I couldn't take a big distributor being absorbed by another big distributor again after Disney bought Fox. This way Paramount stays as its own thing. Hopefully they increase their slate from where it has been for awhile, which is minimal.

[dudalb]

18 hours ago, Insomnia said:

So happy Skydance won out here! I couldn't take a big distributor being absorbed by another big distributor again after Disney bought Fox. This way Paramount stays as its own thing. Hopefully they increase their slate from where it has been for awhile, which is minimal.

I suspect you will see some "Changes" at Paramount management,,,,with good reason. Present management is just not getting the job done.

[filmnerdjamie]

 

[Box Office Hit]

 

[AniNate]

 

[dudalb]

and in the meanwhile Paramoun has apparently decided to spend even more on MI 8, despite it already gone widly over budget, and the prevous film having underperformed at the box office.

And this kind of thinking, folks, it why Paramount is in the the bad situation it is in. 

IMHO they might be betting the house on MI 9, and given the clear signs that audeinces are burnt out on the franchise, it is a bad bet.

And Sherri Redstone has got to go. Paramount going down the tubes happened on her watch, and it is her responsiblity. Yes, she did not make every bad decision, bu tthe people she hired made the bad decisions, and part of your job as CEO is to spot when people are screwing up and take what actions necessary to correct that. She has failed completly.

That is managment 101. If   people under you screw up, it is your responsiblity if you di dnot take action to fix it.

Edited June 11 by dudalb

[ZeroHour]

6 minutes ago, dudalb said:

and in the meanwhile Paramoun has apparently decided to spend even more on MI 8, despite it already gone widly over budget, and the prevous film having underperformed at the box office.

And this kind of thinking, folks, it why Paramount is in the the bad situation it is in. 

IMHO they might be betting the house on MI 9, and given the clear signs that audeinces are burnt out on the franchise, it is a bad bet.

This is a story that has very little to do with MI8 or even the movie studio. I know this is a box office forum and there's a tendency to see everything through that lens, but this has always been about television and how quickly companies like Paramount have seen the ground beneath them dissolve because of streaming. Streaming has also had a major impact on the film business, but what's killing Paramount is the nosedive of ad sales for linear television and overspending on a streaming platform that hasn't caught on fast enough to make up for that nosedive.

[Insomnia]

What?? I thought this was done. Mother f*****!