Summary
Why the owners of movies and artworks don't want you to see them. Tamasin Ford explains why Disney is removing a catalogue of movies from the cinema circuit following its deal to buy 21st Century Fox, and why artwork is being hidden in tax-free warehouses around the world instead of being displayed in galleries. Producer: Frey Lindsay. (Photo: An illustration of Mickey Mouse at the Disney store in New York, Credit: Getty Images)
Transcript
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| 0:00.0 | Hello, I'm Tamerson Ford. Welcome to Business Daily from the BBC. If art, music and films are meant to be seen and listened to, then why is so much of it hidden? Today we're talking about the billions of dollars worth of paintings, sculptures and art stored out of view in tax-free |
| 0:23.4 | warehouses where not a single soul gets to see them. I like to say that this is the storage |
| 0:29.7 | equivalent of a Swiss bank account, right? When you put things in, they sort of disappear from |
| 0:36.2 | regulatory scrutiny. |
| 0:39.7 | Nobody knows who owns it. |
| 0:44.1 | Nobody knows how much is there, what it's valued at. |
| 0:45.6 | And it's not just art. |
| 0:49.0 | It's happening to music and movies, too. |
| 0:52.7 | These films that were meant to be shown in theaters. |
| 0:56.2 | And for another company who had nothing to do with their inception, |
| 0:59.0 | certainly nothing to do with their stewardship or protection over the years, |
| 1:03.1 | to tell you that the only way to watch them is through a streaming service they control, |
| 1:05.4 | it just feels very wrong. |
| 1:10.6 | Have we got to a stage where commercial interests are more important than cultural ones. |
| 1:13.9 | That's all in Business Daily from the BBC. This year, Disney bought all the film and TV assets held by 21st Century Fox for $71.3 billion. |
| 1:38.8 | It's one of the biggest media mergers the world has ever seen. |
| 1:42.9 | We're talking about the entire Fox |
| 1:45.0 | catalogue, movies like Moulin Rouge, Fight Club, the alien films, The Princess Bride. |
| 1:56.5 | Hello! My name is Inigo Mantogne. You kill my father. Prepare to die. |
| 2:01.9 | Stop saying that! |
| 2:04.3 | The deal also included film rights to certain franchises owned by Fox, |
| 2:10.0 | such as X-Men and Fantastic Four, as well as a host of US cable and satellite companies. |
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