| | | | Fears of a U.S. recession have cascaded across global markets, with the Dow Jones Industrial Average down a whopping 1,200 points pre-market and off more than 1,000 in early trading this morning. A selloff in Japan overnight first set off a drubbing in Asia and Europe, with the reaction now kicking in Stateside. Media and tech shares have been pummeled, with red numbers across the board. Warner Bros. Discovery is down nearly 8%, with the selloff also hitting most media a tech names, among them Disney, Netflix, Apple, Amazon and Roku, as the pain spreads and across broadcasters, exhibitors and social media firms. Pressure on stocks started Friday after the Department of Labor’s monthly data showed a rise in U.S. unemployment. That led many to think the Federal Reserve may have waited too long to lower interest rates from 20-year highs, risking tipping the U.S. economy into a recession. >>>Japan's Worst Day Since 1987 |
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| Deadline Exclusives & Originals |
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Musk Sues OpenAI Again - Tesla and X billionaire Elon Musk is back in a legal war with OpenAI for the second time in six months. The former OpenAI co-founder will square off anew with his old partners, CEO Sam Altman and president Greg Brockman in federal court. Musk's new lawsuit alleges that OpenAI's focus shifted from its "advertised charitable purpose" to "a vehicle for Altman and his partners’ self-enrichment." >>> Seeks Jury Trial
Getting Historical - Media veterans Jeff Bewkes, Howard Stringer and Jeremy Fox have launched Thoroughbred Studios. Their fledgling business has galloped to an overall deal with iHeartPodcasts and scored a second season order for its first project, a BBC audio drama about the CIA. Thoroughbred’s USP will be creating drama based on monumental events from modern U.S. history. One of the first out of the gate will be a moon-landing podcast for iHeart from 24 producer Stephen Kronish. Another project will be on the Vietnam war. >>> "Shared Interest"
Long Walk To Freedom - Shortly after Evan Gershkovich was freed in a 24-person swap across multiple countries, Gershkovich’s employer, Wall Street Journal, published a detailed account of the complex and difficult behind-the-scenes efforts that led to the diplomatic breakthrough. The story reads like a spy thriller and sparked immediate interest from top Hollywood players. >>>Bidding War Shaping Up
'Home' Run - In a competitive situation, Prime Video landed Home Team, a half-hour single-camera comedy starring and executive produced by Emmy winner Eric Stonestreet. The project hails from Austin Winsberg's Zihuatanejo Productions, Peyton Manning‘s Omaha Productions, The Tannenbaum Company, Lionsgate Television — where The Tannenbaum Co. and Zihuatanejo are based — and Amazon MGM Studios. >>>Father-Son Story
Mystery Monster Movie - Leah McKendrick is set to write and direct an Untitled Monster Project based in folklore for Atomic Monster and Universal Pictures. James Wan will produce the project with Michael Clear and Judson Scott executive producing. Alayna Glasthal is overseeing the project for Atomic Monster. >>>Hot New Talent
Moon Raker - Legendary Television has acquired the television rights to adapt Seveneves by Hugo Award winner Neal Stephenson.The project charts how the best scientific minds come to the same conclusion after a meteor shatters the moon into seven pieces. >>>Race Against Time |
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Akbar Gbajabiamila is one of the new faces of Good Morning Football, having joined the NFL Network show alongside Jamie Erdahl, Kyle Brandt and Peter Schrager. The former NFL star and The Talk host chatted to Deadline about his new duties on the sports show and how his parents inspired him to dream. >>>Read The Interview |
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Exclusive
We’ll be seeing more of Wyatt in the upcoming season of 9-1-1: Lone Star. Jackson Pace, who has recurred as the character since Season 3, has been promoted to series regular for Season 5.
Exclusive
Tom Blyth and Emily Bader are set to star in the Netflix and 3000 Pictures adaptation of People We Meet On Vacation. The film will be based on Emily Henry’s New York Times best-seller and is the first book adaptation by the best-selling author to go into production.
Check Molly Kearney off the cast list for the 50th season of Saturday Night Live. Kearney announced on social media on Friday that they won’t be returning for the 2024-25 run.
Emile Hirsch will star in the indie horror movie Woozy, which starts shooting this month in New Jersey. |
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More News 📹 UTA has made an intriguing move into the world of European production. The U.S. agency has signed Big Brother producer Banijay Entertainment and will work specifically as marketing consultant and talent agency for the group’s branded content arm, Banijay Branded Entertainment, which launched late last year.
🚦 Idris Elba has gotten the green light to help develop Africa’s expanding film industry in Zanzibar – with a studio that could be similar to any in “Hollywood, Nollywood or Bollywood” and could become known as “Zollywood.”
🦠 More than 20,000 attendees at the California Lightning in a Bottle music festival may have been exposed to a dangerous fungal illness. The California Department of Public Health is investigating five cases of Valley fever that occurred among people who traveled through Kern County to attend the May 22-27 event near Bakersfield. So far, three people have been hospitalized. |
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On the Radar
Mon - "Comics for Kamala" event
Tue - Fox earnings; Deauville FF begins
Wed - Disney, Warner Bros. Discovery earnings
Fri - D23 kicks off
Sun - Olympics Closing Ceremony |
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Photo Finish - American Noah Lyles became the fastest man alive this weekend, taking the 100M gold at the Paris Olympics in a finish that was almost too close to call. |
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