Peter Kafka

Recent Posts by Peter Kafka

Accel Bets on Hollywood With $40 Million Legendary Pictures Deal

Accel Partners, the venture capital heavyweight known for betting on tech hits like Facebook, is going Hollywood: It has invested $40 million into Legendary Pictures, a production studio best known for “The Dark Knight.” The company has a seven-year output deal with Time Warner’s Warner Bros., which also happens to be streaming some of its movies on Facebook. So “the next time you pay to stream a Warner Bros. movie with Facebook credits, Accel will take a cut from both sides,” notes Forbes, which disclosed the deal in a story this afternoon.

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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald