DirectTV Signs Movie-Financing Deal With A24
DAVID GREENE, HOST:
NPR's business news begins with a new name in Hollywood.
(SOUNDBITE OF MUSIC)
GREENE: Satellite TV operator DirecTV has signed a $40 million deal with independent film studio A24 Inc. to help finance new movies. In return, DirecTV gets exclusive rights to air the indie films on-demand for 30 days before they hit theaters.
A24's biggest hit to date is the James Franco film "Spring Breakers," which made over $14 million domestically. The catch though, major theater chains, like Regal and AMC, will not show films that have previously released as video on-demand.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.