Apple-Sony deal for Tom Hanks movie was driven by coronavirus shutdowns
Apple CEO Tim Cook speaks during an event launching Apple tv+ at Apple headquarters on March 25, 2019, in Cupertino, California.
Noah Berger | AFP | Getty Images
Apple just made its biggest-ever movie acquisition for its AppleTV+ service — “Greyhound,” the World War II battleship drama starring and written by Tom Hanks and produced by Sony.
Apple paid Sony about $70 million for 15 years of streaming rights to the film, which cost about $50 million to make, according to people close to the matter who declined to be named discussing confidential business matters. Sony will retain the right to distribute the movie in China, where it could eventually put it in theaters, these people say.
This is also the first time that Hanks, one of Hollywood’s biggest stars, has foregone the big screen and is going …continued .
[Source: CNBC News]