The (Unlikely) Economics of Your Book Becoming a Movie

Previously for DailyFinance, Catherine Ryan Hyde described how novelists (theoretically) profit from their books. Here, the author of Pay It Forward, which was adapted to film, explains what happens to authors when their books become movies. Hint: Money doesn't have a starring role.

Icahn Supports Lions Gate's Bid to Buy MGM

Billionaire investor Carl Icahn threw his support behind Lions Gate Entertainment's proposal to acquire debt-laden Metro-Goldwyn-Mayer, according to a filing with the SEC Tuesday. Icahn is Lions Gate's largest shareholder and also holds a significant amount of MGM's debt.

Indian Conglomerate in Talks to Buy MGM

Indian conglomerate Sahara India Pariwar is in talks to buy U.S. movie studio Metro-Goldwyn-Mayer Inc in a deal worth more than $2 billion, The Wall Street Journal reported. MGM owes creditors about $4 billion, mostly to hedge funds that purchases the studio%u2019s bank obligations at a discount. The creditors are preparing to take over the studio in a streamlined bankruptcy. They plan to turn management over to Gary Barber and Roger Birnbaum, co-heads of Spyglass Entertainment.

Icahn Raises Hostile Bid for Lions Gate to $7.50 a Share

Lions Gate Entertainment shares jumped some 12.5% to around $7.30 Tuesday after billionaire activist investor Carl Icahn raised his hostile bid for the studio to $7.50 per share in cash, up from the previous offer of $6.50 a share. Lions Gate's board said it will review the offer.

Summer Cinema Ticket Sales Fall to Lowest Since 1997

Ticket sales at cinemas this summer fell to the lowest since 1997 as prices rose. Box office ticket sales from the first weekend of May through the Labor Day holiday are expected to slip 2.6% to 552 million, Bloomberg News reported.

Google Eyeing Pay-Per-View Movies on YouTube?

Google is talking to Hollywood studios about a pay-per-view video service based on YouTube, according to a new report. The move comes as Google girds for battle with Apple, and telecom and media companies jostle for control over the next generation of high-speed content delivery.

'Expendables' Tops Weekend Box Office Ahead of 'Eat Pray Love'

"The Expendables", an ensemble action movie starring Arnold Schwarzenegger and Sylvester Stallone - who also directed - topped the box office at the weekend, ahead of "Eat Pray Love", with Julia Roberts. "The Expendables," a movie from Millennium Films and Lions Gate (LGF), pulled in an estimated $35 million in ticket sales, The New York Times reported. "Eat Pray Love" managed $23.7 million, while "Scott Pilgrim vs. the World" managed $10.5 million.

Netflix Clinches Deal to Stream Hollywood Movies Sooner

Netflix clinched a deal to stream movies online from three Hollywood studios just three months after they appear on pay television. The deal with pay-TV company Epix will let Netflix stream movies from studios Paramount Pictures, Lionsgate and Metro-Goldwyn-Mayer much sooner than it does currently, The New York Times reported. The deal is likely to cost Netflix a total of almost $1 billion in licensing fees.

The Company Men: Will Anyone Sympathize WIth Laid-Off Executives?

The Weinstein Company's soon-to-be-released drama The Company Men is the story of three corporate executives who are downsized as victims of the beaten-down economy. It has a top-flight cast and director, but is America ready to show cinematic sympathy to the villains of the Great Recession?

Joel Silver Sues Goldman Sachs for $30 Million

Hollywood producer Joel Silver, whose credits include the Die Hard and Lethal Weapon movies, is suing Goldman Sachs for failure to pay $30 million owed to him from a series of financial arrangements.

New James Bond Film Delayed 'Indefinitely'

The latest victim in Metro-Goldwyn-Mayer's financial melodrama is James Bond: The 23rd Bond film, which was tentatively scheduled for release in 2011 or 2012, has been "indefinitely" postponed as a result of MGM's precarious financial position.

Why Companies Spend Millions on Oscar 'Swag'

Even though the Academy Awards banned official swag bags four years ago (thanks to an IRS decree that actors must pay taxes on the gifts), companies still scramble to get their items into the luxury-laden gift baskets.

Court Overturns Judgment Against 'Sahara' Author

In the previous round of the legal battle between author Clive Cussler and the company that produced the 2005 movie "Sahara," the author lost, and had to pay Bristol Bay Entertainment more than $20 million. This week, an appeals court reversed that ruling.

Celebrities on the real estate ropes

We go to the movies to forget our troubles, don't we? But increasingly, our celluloid heroes (how's that for a dated reference?) are providing us...

Vanity Fair Lists Hollywood's Top Moneymakers

Vanity Fair today releases its inaugural list of Hollywood's Top 40 Moneymakers of 2009. Topping the list is Michael Bay, director and producer of the blockbuster Transformers series, who pulled in $125 million, beating mogul Steven Spielberg. And there were more surprises as well.