Comcast Looks To 'London Has Fallen' To Perform For Gramercy Pictures Brand
While Comcast Corporation (NASDAQ: CMCSA)'s main film division is Universal, the media giant has a few smaller studios under its umbrella. This weekend, those have the attention of investors.
On Friday, Gramercy Pictures, which was brought back the other year by Focus Features, will release its latest film "London Has Fallen" with a returning cast of Gerard Butler, Aaron Eckhart and Morgan Freeman. The trio originally starred in "Olympus Has Fallen," which opened to $30 million in 2013.
The action film was surprise hit that prompted a quick greenlight for a follow-up that shifts the action overseas. The $60 million production is expected to make around $20 million this weekend due to a combination of factors, namely increased competition.
Others On The Silver Screen This Weekend
This weekend will see two additional new releases: Walt Disney Co (NYSE: DIS)'s "Zootopia" and Paramount (Viacom, Inc. (NYSE: VIAB))'s "Whisky Tango Foxtrot." Plus, holdover "Deadpool" is continuing to mint money for Twenty-First Century Fox Inc (NASDAQ: FOXA).
Investors know Focus/Gramercy usually produce less flashy films than Universal, but in this case, the studio found a hit and is looking to go back to the well one more time. Gramercy's other releases have included installments in horror franchises "Insidious" and "Sinister." Comcast's next big film comes from Universal and is the sequel to indie smash "My Big Fat Greek Wedding 2," which opens at month's end.
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