While the rest of the economy sputters, Hollywood is enjoying a windfall from the sickly U.S. dollar. The weakened currency is translating into a robust international box office and big profits for the entertainment industry.
But it’s also complicating life for producers who make movies and TV shows overseas, as the fluctuating exchange rate makes planning difficult.
“There’s so much talk in every studio about producing outside the U.S.” because of currency shifts, said Harry Sloan, the former MGM chairman who is spending a lot of time looking at acquisitions overseas with his new media fund, Global Eagle.
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“You shoot when the elements come together and the financing comes together,” said Jeff Steele, a film finance expert and the head of Film Closings said.