Venezuela has the largest proven oil reserves in the world. It was once so rich that Concorde used to fly from Caracas to Paris. But in the last three years its economy has collapsed. Hunger has gripped the nation for years. Now, it’s killing people and animals that are dying of starvation. The Venezuelan government knows, but won’t admit it!!! Four in five Venezuelans live in poverty. People queue for hours to buy food. Much of the time they go without. People are also dying from a lack of medicines. Inflation is at 82,766% and there are warnings it could exceed one million per cent by the end of this year. Venezuelans are trying to get out. The UN says 2.3 million people have fled the country - 7% of the population.

Saturday, August 25, 2012

Movie ticket prices reach new high in U.S. and Canada...


Movie ticket prices reach new high in U.S. and Canada...
By Richard Verrier


If you thought going to the movie theater was more expensive this year, you weren't imagining it.

Average ticket prices in the U.S. and Canada climbed to an all time high in the second quarter, reaching $8.12, up from $7.92 in the first quarter and $8.06 in the second quarter of 2011, according the National Assn. of Theatre Owners.

That average might seem remarkably low to moviegoers in L.A., where ticket prices are well above $10, but the trade group's analysis is based on a survey of theaters nationwide and also includes lower-cost matinee tickets and tickets discounted for seniors and students.

The spike in ticket prices reflected the surge in premium-priced 3-D and Imax ticket sales from such movies as "The Avengers," "Men in Black 3" and "Brave."

"We had just some big 3-D pictures and a lot of people attended them,'' said Patrick Corcoran, spokesman for the trade association.

Still, average ticket prices rose during a quarter when box office revenue dropped 1.2%, to $2.8 billion, while theater admissions dropped 2% to $351.1 million. Year to date, box office revenue is up 5%; admissions have increased 4%.

Thank you Los Angeles Times

More info: www.latimes.com
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U.K. Commission Confirms BSkyB Has No Material Advantage in Pay TV Movies


UPDATED: The Competition Commission cited the rise of streaming video providers Netflix and Lovefilm in the field it was asked to review, but it also signaled that BSkyB may have "too much" power overall.

LONDON - The U.K. Competition Commission on Thursday confirmed its recent provisional findings that pay TV giant BSkyB has no material advantage in pay TV movies these days.

BSkyB Acquires Parthenon to Distribute Its Original Content Abroad

BSkyB Study Finds U.K. Pay TV Giant Contributes $8.4 Billion to Economy

The organization also confirmed that it would not suggest any regulatory action after in late May citing the rise of streaming video providers Netflix and Lovefilm in revising its stance from last summer.
"The Competition Commission has decided that Sky's position in relation to the acquisition and distribution of movies in the first pay window does not adversely affect competition in the pay TV retail market," it said in its final report Thursday.

But it suggested that BSkyB's has a dominant role in the broader pay TV market in the U.K. "Together with Sky's large number of existing subscribers deriving from its historical position (Sky's incumbency advantage) and the restricted geographical coverage of Sky's main historical competitor, Virgin Media, it appeared to us that these factors resulted in Sky having too much market power in the pay-TV retail market," the Commission said.

It was only asked by Ofcom to look at pay TV movies though, and on that front the Commission was happy with the level of competition. It wasnt immediately clear if any of the comments in the final report could trigger calls for a look at another aspect of BSkyB's market power.

"In its final report, the CC has concluded that Sky Movies, which currently offers the first pay movies of all the big Hollywood studios, is not a sufficient driver of subscribers' choice of pay TV provider to give Sky such an advantage over its rivals when competing for pay TV subscribers as to harm competition," the Commission said in a summary of its findings.

BSkyB acknowledged the final report in a statement. "Sky considers there to be overwhelming evidence that U.K. consumers are well served by strong competition between a growing number of TV providers, including those offering movies," it said. "As this dynamic marketplace continues to evolve, we remain committed to innovating for customers so that U.K. consumers continue to benefit from choice, value and innovation."

The agency has looked at BSkyB, because it holds film rights from the six major Hollywood studios in the first subscription pay TV window. This led competitors and critics to argue that the company, in which Rupert Murdoch's News Corp. has a 39 percent stake, has too much market power.

The Competition Commission now believes that the competitive landscape has changed with the market entrance of streaming video providers Netflix and Amazon.com's LoveFilm. As a result, BSkyB "no longer has a material advantage" over rivals, the CC said in May.

Laura Carstensen, chairman of the CC's inquiry group, said: 'We have seen significant change in pay TV movie services in the course of our inquiry and have considered the implications of these developments carefully in reaching our final views. It is clear that consumers now have a much greater choice than they had a couple of years ago when our investigation began."

She added: "LoveFilm and Netflix are proving attractive to many consumers, which reinforces our view that consumers care about range and price as well as having access to the recent content of major studios; and the launch of Sky Movies on Now TV, which ends the requirement to buy Sky Movies alongside a basic pay TV subscription, is a further significant development. Overall, we do not believe that Sky's position with regard to first pay movie content is driving subscribers' choice of pay TV provider."

Thank you Hollywood Reporter

More info: www.hollywoodreporter.com
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How Much TV Is Too Much TV?


As the Television Critics Association press tour winds down -- Friday is the last day -- one mostly exciting but partly troublesome theme has been unavoidable.

TCA 2012: Jenji Kohan, Mary-Louise Parker Reflect on Final Season of 'Weeds'
There's a lot of original scripted content looking to get noticed. And the vast volume of it, growing aggressively the past few years, is making it harder for cable channels to stand out and find an audience.

TCA 2012: TV's Winners, Losers and What Was Overheard

Obviously we're in a full-blown 52-week television season with no signs of letup. What that means for viewers is that their options have increased significantly, but so has the sense that they can't keep track of it as it piles up on their DVRs. Never has it been harder for niche cable channels to plant their flag and capture the attention of viewers. And while it might be a great time to be a voracious lover of television, with options galore, for content providers there's a lot of money at stake in this original scripted Renaissance.

On Tuesday, Hulu was at TCA touting its streaming options, which include a new Larry King talk show and the continued importing of British series such as The Thick of It, Rev and Misfits, plus the Israeli series Prisoners of War, which Showtime's Homeland is based on. Hulu also has a travel series called Up to Speed, hosted by Timothy "Speed" Levitch and directed by Richard Linklater.

At the same time Hulu was here, Netflix (which did not present at TCA but likely will soon) was in Las Vegas at the National Association of Broadcasters, touting its original content. The streaming service had Weeds creator Jenji Kohan, who is making Orange Is the New Black, a series about a woman's time in a minimum-security prison; Eli Roth, who is making the murder-mystery series Hemlock Grove with Famke Janssen; and the cast of cult comedy Arrested Development, which will have a high-profile season on Netflix before making its movie. Arrested Development has generated tons of buzz, as has the 2013 premiere of the David Fincher and Kevin Spacey project, House of Cards.

TCA 2012: HBO Execs on Larry David, Aaron Sorkin and the Future of 'Game of Thrones'
Whether any of that works remains to be seen – Lilyhammer, the series Netflix got its feet wet with, is still available on the service, but there's no truly accurate way to tell how it has performed (reviews were mixed). Nevertheless, this next batch is even more content for viewers to choose from, and this time it's a lot more high profile.

On Wednesday, back at TCA, new and returning series were presented by BBC America, including the much-anticipated second season of The Hour, plus a new espionage series called The Spies of Warsaw with David Tennant, based on the books of Alan Furst. But the big push for the channel is Copper, its first original drama, created by Will Rokos, the Oscar-nominated writer of Monster's Ball, who also has written and produced for Southland. The period piece is set in 1864 New York City (Five Points, Fifth Avenue "and the emerging African-American community in northern Manhattan) and centers on post-Civil War cops. It's co-created by Tom Fontana (who will be the showrunner) and executive produced by Barry Levinson.

HBO also presented at TCA on Wednesday, but the major push was the repositioning of Cinemax, which started a year ago with the launch of Strike Back, a series that garnered a surprising amount of critical acclaim and kicks off its second season later this month.

TCA 2012: 'Copper' EPs and Cast Tout BBC America's Big Budget Scripted Original
Kary Antholis, president of programming for Cinemax (and HBO miniseries), said the plan was to "distinguish the Cinemax brand as a premium destination for entertaining, cinematic and compelling original series."

It won't be easy to get out of HBO's shadow or shake off the old "Skinemax" moniker, but Strike Back was a successful start and the channel will follow in October with Hunted, "a conspiracy action thriller set in the world of corporate espionage," starring Melissa George (In Treatment) and created by The X-Files alum Frank Spotnitz (who also helped on the first season of Strike Back). Then, in early 2013, the channel will premiere the new series Banshee from creator Alan Ball.

Perhaps to drive home how hard it is to stand out in a crowded field, the pay cable channels Encore and Starz came to press tour Thursday, with the spotlight firmly on Boss, the Kelsey Grammer series starting its second season Aug. 17. Although many critics found Boss to be compelling if uneven, the performance of Grammer was brilliant from start to finish, but he was snubbed for an Emmy (something he noted at TCA).

Starz also made inroads with the Sopranos-meets-Mad Men style of Magic City, a series that really found itself near the end of its recently completed first season. Both Boss and Magic City built on the profile the channel created with Spartacus (it has other offerings in 2013, including Da Vinci's Demons from creator David S. Goyer).

TCA 2012: Larry King On His New Hulu Show and CNN's Ratings Woes

The question is, how do these series stand out in a crowded field? How do they reach a viewing audience seemingly overwhelmed with options? There's obviously a lot of money at stake. BBC America needs to come off as more than just a retransmission service for its Brit parent. Starz has to up its game to compete with HBO and Showtime. And Cinemax has to get more series on its bench to be taken seriously as a separate, worthwhile entity from HBO.

The plus side to all of this is that there's an incredible amount of quality in the marketplace. More scripted series means more people employed, just as it means a higher profile upon success for each entity producing the shows. But none of this is going to be easy. These channels are going to have to steal audience from more established outlets, which puts pressure on channels such as Showtime, HBO, AMC and FX to keep product in the pipeline or risk losing traction – and relevance – with the viewing audience.

It almost makes you think it would be crazy to get into the scripted game. And it just might be, since sustaining this amount of content will rely on generous advertising budgets, creatively effective promotion and serious online and social media components.

We're about to find out what the threshold is for how many series dedicated viewers can keep up with. Godspeed, everybody.

Thank you Hollywood Reporter


More info: www.hollywoodreporter.com
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Kodak Introduces New Film Aimed at Archiving...


The film stock was developed to address Hollywood’s “Digital Dilemma.”Kodak has developed a new color film designed to address industry concern about long-term preservation of movies and TV content in the digital age.

OUR EDITOR RECOMMENDS AMPAS tackles digital dilemmas“The Digital Dilemma reports published by the Science and Technology Council of the Academy of Motion Picture Arts and Sciences have carefully outlined the risks of digital storage,” said Kim Snyder, president of Kodak’s Entertainment Imaging Division. “(Digital) file-based projects often end up stored on tapes or drives, which need to be continually re-mastered or migrated, and run the risk of format obsolescence.

 Our goal was to create an affordable film option designed for content owners working on television programs, independent features and documentaries to assure long-term access and preservation of their valuable content."Kodak reported that its new Color Asset Protection Film 2332 offers more than a century of dye stability when stored in recommended environments. This film is now available in the 35mm format. 

The company plans to add a black-and-white separation film to their asset protection portfolio later this year. A presentation about the new film stock will be made at the Association of Moving Image Archivists’ Reel Thing Technical Symposium, which starts Friday at the Linwood Dunn Theatre in Hollywood.

Thank you Hollywood Reporter


More info: www.hollywoodreporter.com
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Brooklyn Navy Yard may become site of new media and film campus


Most New Yorkers probably think of the Brooklyn Navy Yard as the decrepit out-of-the-way spot you have to schlep to when your car gets towed. But that is beginning to change. The nonprofit Brooklyn Navy Yard Development Corporation and developer Douglas Steiner have put together a proposal to turn the Yard’s abandoned 300-acre Naval Annex Historic Campus into a media, film, and technology complex, which would connect to the already existing 15-acre site of the developer’s Steiner Studios production facility. The complex would cost nearly $400 million and take 12 years to build, and would use the nine historical buildings on the Historic Campus, while creating five new structures. There would be 328,000 square feet devoted to media companies and academic programs, while 100,000 square feet would be used for new stages for film and TV, including the first underwater stage in the country and the first back lot on the East Coast to feature a New York City streetscape.
Steiner has committed nearly $346 million for the new complex. He is seeking $35 million to build out the site’s infrastructure, including water, sewers and electricity: $17.5 million from the Empire State Development Corporation’s Regional Council and an equal amount from the city. (As Steiner sits on the Regional Council, he has reclused himself from the matter.) Feedback on the proposal is expected this fall.
The 60,000-square-foot Greek Revival hospital, built in 1838 from Tuckahoe marble, would be the campus’s centerpiece. “My dream is to have an anchor tenant like Google or Apple,” Steiner told The New York TimesHe is also hoping to build a Hollywood-style back lot, where filmmakers could recreate New York locations. Steiner thinks the lot could also become a draw for tourists.
The developers estimate that the project would create thousands of jobs during its development and construction, and when completed, the 50-acre media campus would employ approximately 6,000 New Yorkers.
What do you think of this new use for the Brooklyn Navy Yard? Let us know in the comments section.

More info: http://production2blog.com/
http://production2blog.com/2012/08/21/brooklyn-navy-yard-may-become-site-of-new-media-and-film-campus/
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Friday, August 24, 2012

Hermano by a film by Marcel Rasquin

HERMANO a film by Marcel Rasquin

To all our friends in the US that want to watch a great Venezuelan movie, go see my friend's "HERMANO"... 
If it was not good, we will not tell you to go!!! 

This is a REALLY REALLY great movie... 

Pick-up your tickets!!!! And spread the word... 

http://www.musicboxfilms.com/hermano-movies-4.php 

More info: Official Site: http://www.hermanomovie.com/

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Thursday, August 23, 2012

Bill to protect child actors clears legislative hurdle...


Bill to protect child actors clears legislative hurdle...
By Dawn C. Chmielewski

A California bill seeking to protect child actors in Hollywood has passed a major legislative hurdle.

The state Senate Appropriations Committee unanimously approved measure AB 1660, which would require criminal background checks for talent managers, publicists, photographers and others in the entertainment industry who would have unsupervised access to young performers. It also would prohibit registered sex offenders from representing minors.

The bill is similar to a measure proposed in 2006 that died in the appropriations committee, amid opposition from some in the entertainment industry.

Child actor advocates seized on two high-profile cases late last year to create momentum for legislative reform. One case involved a longtime talent manager who specialized in representing young actors, and who subsequently pleaded no contest to two counts of child molestation. Another involved a film casting associate who had been convicted years earlier of child molestation and abduction. Charges brought in connection with his work in Hollywood were later dismissed.

The current bill won wide support from industry trade groups, including the Assn. of Talent Agents, the Motion Picture Assn. of America, the Screen Actors Guild and the American Federation of Television and Radio Artists. It also received the backing of former child actors who said they were victims of abuse.

The measure moves to the full California Senate for consideration.

Thank you Los Angeles Times


More info: http://www.latimes.com/

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United in the fight against pain !



Graphic by Susan Jillian Smith, content creator for Social Media Networking for CMA! We are strong! We are Migraineurs!!!! ~ Guen & the CMA and MAC Team


Facebook page http://www.facebook.com/MigraineActionCoalition
 IT IS SOOOO EASY TO SHOW YOUR SUPPORT! JUST PRESS "LIKE" on the mIGRAINE aCTION cOALITION FB PAGE. We all know someone who suffers from this debilitating disease. With strength in numbers we can make a difference!


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Toronto 2012: Festival Director Piers Handling Expects Strong Film Market...


Hot TIFF titles for U.S. buyers include the latest works by Robert Redford, Brian De Palma, Terrence Malick, Harmony Korine, Derek Cianfrance and Liz Garbus.

TORONTO - After lengthening its red carpets to help star-driven titles debut to foreign buyers, Toronto International Film Festival organizers are pumping up the volume on their unofficial market.

Toronto 2012: Sarah Polley and Brandon Cronenberg Films Added to Lineup

TIFF 2012: Paul Thomas Anderson's 'The Master' to Play Toronto Fest

"I don't think it's just going to be OK. I think it's going to be a very strong year," TIFF director Piers Handling told The Hollywood Reporter about the slew of sales companies headed to Toronto to close deals with key distributors from around the globe.

Robert Redford's The Company You Keep and Brian De Palma's Passion will both arrive in Toronto for a North American debut without U.S. distribution, and, as things stand today, so too will Derek Cianfrance's The Place Beyond The Pines and Harmony Korine's Spring Breakers.

STORY: Julian Assange Telepic 'Underground' Confirmed for TIFF Premiere

Despite a flat economy, Handling expects an exceptional year for film sales in Toronto, which is well on its way to recovering from the deep market trough experienced in 2008-09.
"There's no question the industry has become more healthy. It certainly went into a deep drought and I don't think it has come back out entirely," Handling said.

As in past years, TIFF programmers are front-end loading the festival with sales titles, many of which are star-driven to boost buyer appeal.

These include: What Maisie Knew, by directors Scott McGhee and David Siegel; Shola Lynch's Free Angela and All Political Prisoners; Liz Garbus' Love, Marilyn, To the Wonder, by Terrence Malick; and Joss Whedon's Much Ado About Nothing.

Handling insisted mid-range indie titles with budgets of between $20 million to $40 million, the range in which most international filmmakers screening in Toronto work, remain the most challenged in finding buyers.

"They're not working with the big budgets, the tentpole summer films. And they're not making the low-budget $10-million-dollar pictures. They've done that, been there, seen it. So they're in the mid-range," Handling said of mid-budget indie filmmakers.

Other hot films for U.S. buyers include Mira Nair's The Reluctant Fundamentalist, Deepa Mehta's Midnight's Children, Sally Potter's Ginger and Rosa, Mike Newell's Great Expectations and Thanks for Sharing, by Stuart Blumberg.

U.S. distributors will also have their pick of Ramaa Mosley's Brass Teapot, the tennis doc Venus and Serena by Maiken Baird, Kon-Tiki, by directors Joachim Roenning and Espen Sandberg, Chinese director Hur Jin-Ho's Dangerous Liaisons and Ariel Vromen's The Iceman.

Thank you Hollywood Reporter
More info: www.hollywoodreporter.com

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How to invest in showbiz...


 How to invest in showbiz...
Choices among entertainment-only funds are limited
By JOSEPH LISANTI

People who want to invest in the market but don't want to choose individual stocks often turn to funds. There are thousands of portfolios and lots of options to pick from, but for those who want just entertainment and media stocks, choices are limited
.
Two relatively pure showbiz funds are Fidelity Select Multimedia (FBMPX), an actively managed traditional open-end mutual fund holding about 60 stocks, and PowerShares Dynamic Media Portfolio (PBS), an exchange-traded fund (ETF) based on an index of 30 media companies. Investors can buy FBMPX for a minimum of $2,500. There's no sales charge, and the expense ratio, or annual operating fee, is 0.90%. In the year ended June 30, the Fidelity fund has outperformed the PowerShares portfolio by a difference of about 8.6 percentage points.

As an ETF, PBS trades like a stock throughout the day, and investors can buy a single share (recently $15.62), though they may have to pay brokerage commissions. The expense ratio is 0.63%.

Several funds have the word "leisure" in their names but have a broad definition of leisure. One such fund holds Home Depot shares as its second-largest position. Maybe its managers think putting up drywall is entertaining.

Thank you Variety


More info:www.variety.com

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U.K. aiming to lure U.S. productions


U.K. aiming to lure U.S. productions
Tax-incentive strategy would also help keep homegrown shoots
By LEO BARRACLOUGH

"Episodes," produced for Showtime and the BBC, is set in Los Angeles, but shot in the U.K.

"Downton Abbey," which shoots in the U.K., is one of the few Brit-produced shows to do so.

With the U.K. government set to introduce in April what's likely to be a generous tax incentive for big-budget TV productions, it appears that the sector, given a shot in the arm by the success of "Downton Abbey," might be on the verge of a true breakout -- and Hollywood is taking notice.
While "Downton," produced by NBC-Universal's London shingle Carnival and shot in the U.K., is the exception rather than the rule -- most high-budget TV shows produced by U.K.-based companies are not lensed in Blighty -- with tax credits on the horizon, that is set to change. Many see a future that offers heightened worldwide marketability for U.K.-produced fare and increased collaboration with the U.S., underscored by speculation recently that Sony Pictures Television is interested in buying Blighty's Left Bank Pictures.

The tax incentive plan is hazy, with details still being formulated, but a U.K. production biz lobby group, the TV Coalition, is pressing for the incentive to be based on the nation's film tax credit. If its proposals are adopted, the incentive would be worth 20% of the U.K. spend, with a requirement for a minimum budget level of £1 million ($1.6 million) for an hourlong.

As well as persuading productions to stay home, the incentive could also lure more U.S. network shows to Blighty. At present, even skeins that could be considered culturally British are shot elsewhere. For example, Showtime's "The Tudors" and Starz's "Camelot" used locations in Ireland.

For most U.K. producers, shooting locally is too expensive when there are countries nearby that offer production tax incentives.

"Parade's End," Tom Stoppard's adaptation of the Ford Madox Ford novels, shot 43% of its scenes and undertook more than 80% of its post-production in Belgium. U.K. production house Mammoth, which produced the series for HBO, the BBC and its international sales arm BBC Worldwide, says that if a tax incentive had been in place, the lion's share of the filming and almost all the post-production would have taken place in the U.K.

Even countries some distance away attract Blighty TV productions. Action series "Strike Back," which Left Bank produces for Cinemax/HBO in the U.S. and satcaster BSkyB in the U.K., is shot almost entirely in Hungary and South Africa.

According to a recent report by Stephen Bristow, associate director at media consultancy RSM Tenon, and Charles Moore, a partner at law firm Wiggin, a 20% tax incentive is likely to bring more than $545 million in additional production spending per year to the U.K.

High-end TV drama is very mobile in terms of location, and the existence of a tax credit is central to a country's appeal, the report states. "HBO, for example, said that 10 years ago, 10% of their production spend was shot in locations where incentives were offered. Today, this figure has increased to 85% of their total production spend," the report notes.

Armed with a tax incentive, the U.K. could become a rival even to Canada in vying for U.S. network shows, says Andy Harries, chief executive of Left Bank, which produces Kenneth Branagh-starring crime series "Wallander" for WGBH Boston and the BBC, as well as features, such as "The Queen."

"(The U.S. networks) will be looking to the U.K. in the same way that they look to Canada: If it is cheaper to (film) in the U.K. and they can deliver a product that works in their domestic market, they will(come)," Harries says.

Maria Kyriacou, managing director of ITV Studios Global Entertainment, the U.K. broadcaster's international distribution arm, says U.S. cable networks already are far more willing to consider shows from international producers.

"There are lots of opportunities right now for co-productions and for them to buy shows," Kyriacou says, adding that streaming outlets such as Netflix and Hulu have been having success with some of their high-end dramas.

Kyriacou says that incentives could mean more spending-power for U.K. production companies, enabling them to add well-known thesps or high-end special effects that improve the chances of sales in the international market.

"Recognizable talent helps people pay attention to the shows," Kyriacou says. For example, the casting of Jeremy Piven as the lead in costume drama "Mr. Selfridge," which ITV Studios Global Entertainment is distributing, is helping the show's worldwide sales. In the U.S. "Mr. Selfridge" has been picked up by PBS' "Masterpiece," home to "Downton Abbey."

According to Harries, incentives might lead to a growing number of shows that combine the best of U.S. and U.K. creative talent. "What probably one would try to achieve is some kind of hybrid that will have some American casting for sure, but somehow marries American and English content satisfactorily, (and will play in both countries)," he says. "The tax break will undoubtedly add energy and financial imperative."

Harries points to comedy series "Episodes," produced by the U.K.'s Hat Trick Prods. for the BBC and Showtime Networks, as an indication of the way the biz may develop. Set in Los Angeles, the show stars Matt LeBlanc, and is penned by Hollywood scribes David Crane ("Friends") and Jeffery Klarik ("Mad About You"), but is shot almost entirely in the U.K. Production for the second season included a six-day shoot in Los Angeles for exteriors, but the rest of the show was shot at London studios, and at locations around the city that doubled for Los Angeles.

Hat Trick wouldn't reveal the budget, but Harries says he was told it was about half to two-thirds of what it would have been if it had been shot in the States.

And with incentives, that number would be friendlier still.

Thank you Variety

More info: www.variety.com

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Third-quarter audience trends have been "disappointing" so far for U.K


"Disappointing" recent audience trends should improve in the fourth quarter, and lower ratings for the return of "X Factor" "may build" as the season continues, UBS says though.

LONDON - Third-quarter audience trends have been "disappointing" so far for U.K. commercial broadcaster ITV amid the BBC's strong ratings for its coverage of the Summer Olympics, UBS analyst Tamsin Garrity said Monday in lowering her full-year 2012 and 2013 advertising revenue forecast for the company.

Olympics 2012: BBC Reaches Biggest Average Audience With Closing Ceremony
"Audience has been disappointing through the third quarter, though ITV has a strong programming slate for the fourth quarter," she said in a research report.

For 2012, the analyst lowered her advertising revenue estimate for ITV to growth of 0.5 percent, down from 2.5 percent previously, but still ahead of the consensus expectation for no change. For 2013, she expects no gain, down from her previous projection of 1.5 percent growth, "although this is offset by better interest and tax," which should help profitability, Garrity said.

The UBS analyst also said that ratings for ITV should improve in the fourth quarter, and lower ratings for this weekend's return of Simon Cowell's X Factor "may build" as the season continues.
"ITV management stated it is confident audience share will be stronger in the fourth quarter," Garrity wrote. "On the weekend, ITV proceeded with the return of the X Factor and a rejuvenated Red or Black; initial viewing was low at 8 million (last year 11 million), however this may build." And she highlighted that other returning shows over the near-term include Downton Abbey.

Jefferies analyst Will Smith said X Factor "is very visible, so people take note," even though most analysts don't spend much time on individual shows.

"It sounds like September is tracking a bit better than expected on ad spend," Smith said though.
Garrity echoed that. Announcing its latest results last month, ITV said that ad revenue in September will come in between unchanged from 2011 to down 5 percent, leaving the first nine months of 2012 unchanged. "Media buyers think this is slightly pessimistic," she said.

Thank you Hollywood Reporter


More info:www.hollywoodreporter.com

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