Sony Kills Spider-Man Partnership Deal with Marvel Studios

Marvel Studios will not produce any future Spider-Man films due to a standoff between The Walt Disney Company and Sony Pictures.

According to Deadline, the decision stems from “an inability by Disney and Sony Pictures to reach new terms that would have given the former a co-financing stake going forward.” As for the next two currently planned Spider-Man films, both Homecoming and Far From Home director Jon Watts, as well as actor Tom Holland are expected to return. However, Marvel’s involvement in the project is doubtful, as Marvel Studios President Kevin Feige has been “essentially nixed” by Sony.

It seems Disney asked for all future Spider-Man projects to be a 50/50 co-financing arrangement between Marvel and Sony but the latter declined. Instead, Sony proposed leaving the current deal untouched, meaning Marvel would continue to receive approximately 5% of first-dollar gross while maintaining merchandising rights, which Disney refused. This, of course, comes hot on the heels of Spider-Man: Far From Home cementing itself as Sony’s highest-grossing film of all time, albeit with Marvel’s help.

Nevertheless, Sony is reportedly optimistic about the future of the Spider-Man franchise, even without the helping hand of Marvel, as the studio believes it’s already set a solid foundation to build off of with Homecoming and Far From Home.

 

JAY-Z Will Reportedly Become Part Owner of NFL Team

It appears JAY-Z will become part owner of a major sports franchise.

Sources with knowledge of the situation told TMZ that the hip-hop mogul will have “significant ownership interest” in a NFL team. The insiders say JAY decided to make the move “because he’s a huge fan, already has a sports business and wants to continue to be a change agent for the NFL.”

It’s unclear what team JAY plans to own or when the deal will be finalized, but sources say it’s happening soon.

This story will be updated.

Barneys New York files for bankruptcy and announces 15 closing stores. See the list.

 

Barneys New York has filed for Chapter 11 bankruptcy protection and will close 15 of its 22 stores, the luxury retailer announced early Tuesday

Locations that will be shuttered include Barneys New York locations in Chicago, Las Vegas and Seattle, five small concept stores and seven Barneys Warehouse stores, the company statement said.

Five flagship locations are expected to stay open including, two New York locations (Madison Avenue and Downtown New York City), two in California (Beverly Hills and San Francisco) and the Boston store at Copley Place.

 

Two Barneys Warehouse locations – an outlet in Central Valley, New York, and one in Livermore, California – will also remain open and company websites, Barneys.com and BarneysWarehouse.com “will continue serving our customers without disruption,” the statement said.

Perkins & Marie Callender’s bankruptcy: Restaurant chain filed for bankruptcy after closing 29 locations

More store closings coming: An estimated 12,000 shops could close by the end of 2019

Barneys stores closing

California

• Cabazon: 48650 Seminole Drive, Desert Hills Premium Outlets
• Camarillo: 850 East Ventura Blvd., Camarillo Premium Outlets
• Carlsbad: 5620 Paseo Del Norte, Carlsbad Premium Outlets
• Glendale: 869 Americana Way, The Americana at Brand
• Los Angeles: 189 The Grove Drive
• Santa Monica: 395 Santa Monica Place

Florida

• Sunrise: 1840 Sawgrass Mills Circle, Sawgrass Mills

Hawaii

• Waipahu: 94-790 Lumiaina St., Waikele Premium Outlets

Illinois

• Chicago: 15 East Oak St.
• Rosemont: 5220 Fashion Outlets Way, Fashion Outlets of Chicago

Nevada

• Las Vegas: 3327 Las Vegas Boulevard South

New York

• New York: 194 Atlantic Ave., Brooklyn
• Riverhead: 200 Tanger Mall Drive, Tanger Outlets

Pennsylvania

• Philadelphia: 1811 Walnut St.

Washington

• Seattle: 600 Pine St.

 (Photo: Tom Sibley / Barneys)

Barneys stores staying open

California

• Beverly Hills: 9570 Wilshire Blvd.
• San Francisco: 77 O’Farrell St.
• Livermore: 2626 Livermore Outlets Drive, San Francisco Premium Outlets

Massachusetts

• Boston: 100 Huntington Ave., Copley Place

New York

• New York: 660 Madison Ave.
• New York: 101 7th Ave., Downtown
• Central Valley: 240 Hudson Valley District, Woodbury Common Premium Outlets

 

SB X AIR JORDAN I LOW

DARK POWDER BLUE

$110

AVAILABLE 8/12 AT 10:00 AM

Before Eric Koston became a figurehead in skate + sneaker culture, the SB legend remembers missing out on the Air Jordan I for the first time. Designed by Koston, this SB x Air Jordan I Low takes inspiration from the shoes he recalls sitting on the rack, with the lids cut off the box, that his mom wouldn’t buy for him because “the shoes he had were fine”. The silhouette features a longer vamp, resized swoosh, full leather upper and comes in a Dark Powder Blue colorway. Koston’s signature is featured on the inside tongue label and when you flip it, you’ll notice “$24.99” on the underside, the price for that pair on the rack back in ‘86. After all these years, after recalling his favorite pro skaters he idolized rocking ‘em, Eric finally gets to cop a pair.

Earnings Preview: What To Expect From Disney On Tuesday

 

Earnings Preview:

Walt Disney is expected to earn $1.76/share on $21.68 billion in revenue. Meanwhile, the so-called Whisper number is $1.80. The Whisper number is the Street’s unofficial view on earnings.

Company Profile & Various Businesses:

Here is a brief company profile courtesy of Eikon:

The Walt Disney Company, incorporated on July 28, 1995, is a worldwide entertainment company. The Company operates in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive Media. The media networks segment includes cable and broadcast television networks, television production and distribution operations, domestic television stations, and radio networks and stations. The Company’s Walt Disney Imagineering unit designs and develops new theme park concepts and attractions, as well as resort properties. The studio entertainment segment produces and acquires live-action and animated motion pictures, direct-to-video content, musical recordings and live stage plays. The Company also develops and publishes games, primarily for mobile platforms, books, magazines and comic books.