Australian-born News Corporation managing director, Rupert Murdoch, is rubbing some people the wrong way with his recent declaration (and personal opinion…) that the recession is over. Wait, that’s supposed to be good news, isn’t it?
In LA, some studios are apparently less than thrilled at this recent pronouncement because they had just begun to get comfortable with the recession giving them a reason to slash salaries and reduce their numbers of employees. Whether you believe they are “comfortable,” or just “going with through the motions,” is really up to you, but Murdoch is standing firmly behind his opinion that “Happy Days are Here Again.”
So what could be behind Murdoch’s economical confidence? Well, for starters, NewsCorp has reported that their profits are up 11 percent in the past quarter, and Murdoch says these are “the best results we’ve seen in seven quarters.” In addition, some of Hollywood’s best directors are coming out of seclusion and planning films, such as award-winning director Danny Boyle’s anticipated 127 Hours, a true story about a hiker trapped under a boulder.
Actors are also coming out of the woodworks and signing on to productions that audiences thought they may never see. For instance, Johnny Depp and Angelina Jolie are planning to mesh their mega-star power in a film called The Tourist. In addition, the recent debut of Michael Jackson’s This is It film has thus far brought in an astounding $125 million internationally. It appears Murdoch may have a point, to some extent. People are out spending money on movies, directors are re-grouping and actors are auditioning again. Could this be the end? Does Hollywood really dictate this for the rest of the nation? Perhaps they believe they do, but in reality, only time will tell.