Home Media Magazine - March 2-8, 2009 - (Page 5) www.homemediamagazine.com NEWS BRIEFS I TARGET Q4 DOWN 41% Target Corp. reported earnings of $609 million during Q4 2008 (ended Jan. 31), down 41% from the just over $1 billion it earned during the same period the previous year. For fiscal year 2008, Target reported earnings of $2.21 billion. The retailer did not mention home entertainment hardware or software specifics during its conference call with investors Feb. 24, or in its fourth-quarter performance press release. Retail sales were down 1.6% to $19 billion in the fourth quarter, compared to the same period the year before. In 2008, Target netted a total of 91 new – Chris Tribbey stores. sale or rental of video games to minors if they were classified as violent in an “especially heinous, cruel, or depraved” manner. The law was to go into effect Jan. 1, 2006. But the Video Software Dealers Association (now the EMA) filed suit against California governor Arnold Schwarzenegger and others before it went into effect, claiming the law would have violated freedom of expression and equal protection of the laws and was un– Billy Gil constitutionally vague. Image Shareholders Approve Acquisition By Erik Gruenwedel SUPPLIER Image Entertainment shareholders Feb. 24 approved a $100 million cash acquisition by Nyx Acquisitions, an affiliate of Q-Black, LLC, based in San Francisco. Under the terms of the agreement, Nyx agreed to acquire 100% of the outstanding common stock of Image for $2.75 per share in cash. Separately, Image cut about 10% (14 employees) of its workforce across multiple departments at its Chatsworth, Calif.-based headquarters, which it attributed to a reduced release slate through the rest of 2009. The deal is slated to close Feb. 26, but representatives from Nyx have requested more time to finalize the financing for the transaction. Image said it would extend closing up to two weeks if Nyx satisfies certain conditions, including Image’s right to collect a $1.8 million business interruption fee should the transaction not be completed. Earlier this month Image received the final $1.3 million installment of the $1.8 million business interruption fee, indicating the planned acquisition was a go. The deal appeared in doubt last month when Nyx failed to deliver the $1.3 million payment by a Jan. 20 deadline. Despite the vote of confidence from shareholders, Wall Street remained guarded. Image’s stock was up more than 30% to $1.92 per share midday be- fore trading was suddenly suspended, indicating concern by investors. “Usually a stock will not be halted just for the shareholder vote,” said an analyst who wished not to disclose his identity because he was not authorized to comment officially. The analyst said concerns continue regarding delays to the previously announced Feb. 26 closing date and the nature of Nyx’s private equity funding. PETER CHERNIN TO LEAVE NEWS CORP. my contract expires on June 30,” Peter Chernin, presiChernin said in a statement. dent and COO of News Corp. No successor has been named. is leaving the company, ending News Corp. CEO Rupert Mura 12-year career as second-indoch issued a statement saying command that saw the influential Chernin will launch a film and executive spearhead 20th Centutelevision production venture with Chernin ry Fox Studios, including its home Fox. Murdoch said a streamlined entertainment division and Fox management structure “between television operations, which generates the our Los Angeles based business units and the bulk of News Corp.’s operating profits. rest of the company” would be implemented “I have decided to leave News Corp. when over the next few months. By Erik Gruenwedel SUPPLIER I SONY EYES EXTENDING PS3 TO LATIN AMERICA Sony Computer Entertainment America said it will expand the PlayStation business and brand to the 13 countries representing Latin America. Through a distribution partnership with Sony Latin America, PlayStation services include access to the Web-enabled PlayStation Network, a free entertainment network service that delivers original content to the PlayStation 3; firmware updates and – Erik Gruenwedel related online services. I CALIFORNIA VIDEO GAME LAW OVERTURNED On Feb. 20 the U.S. Court of Appeals in the case of Video Software Dealers Association v. Schwarzenegger held that a California video game restriction law is unconstitutional. The 2005 law would have restricted the PROJECTIONS Title B.O. Power Small for the Week By Kelly Burner MERCHANDISING I t is a quiet week in home entertainment when the most significant title released grossed a mere $13.6 million in theaters. The Haunting of Molly Hartley, released Feb. 24 by Fox, was the only title released last week that grossed greater than $10 million. Two other theatrical releases with greater than $1 million total ticket sales came out at the same time: Sex Drive, a comedy from Summit Entertainment that grossed $8.4 million; and What Just Happened ($1.1 million), a black comedy from Magnolia that features an all-star cast, including Robert De Niro and Sean Penn. It’s a wonder that What Just Happened didn’t perform better in theaters. If it’s marketed better at retail, the film will be a sure-fire hit, sparking its way to one of the top 5 sellers and rentals for the week. Molly Hartley is likely to snag a spot on the rental chart as high as No. 3, and Sex Drive should make a respectable showing as the No. 10 best seller and rental. With only these three new significant titles to contend with, the top titles of this week are liable to hold onto their spots, with the possibility of minor shifts. Expect High School Musical 3 to be the top seller for a second week running, and Body of Lies to hold onto the title of top rental. RANK TITLE WEEKS ON STUDIO CHART Best Buy Sex Drive Summit SRP $26.99, $34.99 BD Target $19.99 Blu-ray not available Wal-Mart $19.96 $25.86 Blu-ray* Barnes & Noble $26.99* $31.49 Blu-ray Amazon.com $19.99 $25.99 Blu-ray $17.99 $19.99 exclusive threeDVD set; $29.99 Blu-ray Fox SRP $29.99, $39.99 BD Futurama: Into the Wild Green Yonder $17.99 $29.99 Blu-ray* $16.99 $27.95 Blu-ray $19.96 $27.86 Blu-ray* $26.99 $35.99 Blu-ray $17.99 $27.95 Blu-ray What Just Happened Magnolia SRP $29.98, $34.98 BD $19.99 $29.99 Blu-ray $16.99 Blu-ray not available $15.86* $25.86 Blu-ray* $26.99 $34.99 Blu-ray* $15.99 $26.49 Blu-ray Summer Heights High HBO SRP $29.98 $19.99 $22.99 $20.86* $26.99 $19.99 * Online Only PROJECTED TOP 3 SELLERS for Week Ending 3/1/09 1 2 3 High School Musical 3 Changeling Disney Universal 2 4 2 Madagascar: Escape 2 Africa Para./DW DVD Blowout at Retail By John Latchem ith a slow week for new releases, some retailers put the emphasis on popular recent releases. Target devoted the whole first page of its weekly circular ad to a splashy sale of select DVDs, CDs and video games for $10 each. Movies included The Dark Knight, Mamma Mia!, PROJECTED TOP 3 RENTERS for Week Ending 3/1/09 1 2 3 Body of Lies Changeling Warner Universal 2 2 New W The Haunting of Molly Hartley Fox Source: Home Media Research Juno, Sex and the City, Wall-E and others. Best Buy had many of the same titles available for $14.99 each but also had a sizable $6.99 selection. Best Buy also touted its exclusive three-DVD special edition of Sex Drive, which also included a $5 coupon toward Pineapple Express, Nick & Norah’s Infinite Playlist or Zack and Miri Make a Porno. A Wal-Mart in Santa Ana, Calif., didn’t bother stocking many of the new releases, but did have an animated Peace Arch title called Dragon Hunters for $9.96 with a bonus comic book. As usual, Wal-Mart and Barnes & Noble used their Web sites for many of the titles, while Target is linked with Amazon.com for many of the titles they don’t stock. March 2–8, 2009 Home Media Magazine 7 http://www.homemediamagazine.com http://www.Amazon.com http://www.Amazon.com
Table of Contents Feed for the Digital Edition of Home Media Magazine - March 2-8, 2009 Home Media Magazine - March 2-8, 2009 Contents News TV DVD SXSW Reviews Research Top 20 Sellers Top 20 Rentals and Top 10 Charts Just Announced Home Media Magazine - March 2-8, 2009 Home Media Magazine - March 2-8, 2009 - Home Media Magazine - March 2-8, 2009 (Page Cover1) Home Media Magazine - March 2-8, 2009 - Home Media Magazine - March 2-8, 2009 (Page Cover2) Home Media Magazine - March 2-8, 2009 - Home Media Magazine - March 2-8, 2009 (Page Cover3) Home Media Magazine - March 2-8, 2009 - Home Media Magazine - March 2-8, 2009 (Page Cover4) Home Media Magazine - March 2-8, 2009 - Home Media Magazine - March 2-8, 2009 (Page 1) Home Media Magazine - March 2-8, 2009 - Home Media Magazine - March 2-8, 2009 (Page 2) Home Media Magazine - March 2-8, 2009 - Home Media Magazine - March 2-8, 2009 (Page 3) Home Media Magazine - March 2-8, 2009 - Home Media Magazine - March 2-8, 2009 (Page 4) Home Media Magazine - March 2-8, 2009 - Contents (Page 5) Home Media Magazine - March 2-8, 2009 - News (Page 6) Home Media Magazine - March 2-8, 2009 - News (Page 7) Home Media Magazine - March 2-8, 2009 - News (Page 8) Home Media Magazine - March 2-8, 2009 - News (Page 9) Home Media Magazine - March 2-8, 2009 - TV DVD (Page 10) Home Media Magazine - March 2-8, 2009 - SXSW (Page 11) Home Media Magazine - March 2-8, 2009 - Reviews (Page 12) Home Media Magazine - March 2-8, 2009 - Reviews (Page 13) Home Media Magazine - March 2-8, 2009 - Reviews (Page 14) Home Media Magazine - March 2-8, 2009 - Reviews (Page 15) Home Media Magazine - March 2-8, 2009 - Top 20 Sellers (Page 16) Home Media Magazine - March 2-8, 2009 - Top 20 Sellers (Page 17) Home Media Magazine - March 2-8, 2009 - Top 20 Rentals and Top 10 Charts (Page 18) Home Media Magazine - March 2-8, 2009 - Top 20 Rentals and Top 10 Charts (Page 19) Home Media Magazine - March 2-8, 2009 - Just Announced (Page 20) Home Media Magazine - March 2-8, 2009 - Just Announced (Page 21) Home Media Magazine - March 2-8, 2009 - Just Announced (Page 22)
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