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Paramount Lands Major Cannes Bid for Florence Pugh's The Midnight Library
Paramount Pictures closed North American and international rights to The Midnight Library, a Garth Davis-directed fantasy drama starring Florence Pugh, after a Cannes market bidding war with Focus Features and Sony. The $70M Blueprint Pictures/StudioCanal production, adapted from Matt Haig’s novel by Laura Wade and Nick Payne, will be produced by Graham Broadbent and Pete Czernin, with filming planned for early next year, and marks Lia Buman’s first major acquisition at Paramount.

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Planet of the Apes Reboot Lands Matt Shakman as Director at 20th Century
Matt Shakman, who relaunched Marvel’s Fantastic Four franchise with Fantastic Four: First Steps, is set to direct an untitled Planet of the Apes movie for 20th Century Studios with Josh Friedman writing; the project will be an original story not confirmed as a continuation of Kingdom of the Planet of the Apes, and Shakman will produce alongside Rick Jaffa and Amanda Silver.

Top Gun 3 Moves Forward as Script Enters Writing Phase at CinemaCon
Paramount confirmed at CinemaCon that a third Top Gun film is in development with a script currently being written; Tom Cruise is expected to reprise Pete 'Maverick' Mitchell and producer Jerry Bruckheimer is returning, following the success of Top Gun: Maverick.

Amazon MGM Will Take Its Time Choosing the Next James Bond
Amazon MGM Studios updated on its search for a new James Bond, stressing a careful, respectful process led by Denis Villeneuve with producers Amy Pascal and David Heyman and writer Steven Knight, with no casting announcements yet and news to come when the time is right.

Disney halts Be Fri: Pixar's girl-led film canceled over boy-appeal concerns
An anonymous Pixar staffer told THR that Disney rejected Be Fri, a female-led teen friendship film, after notes suggested the story wouldn’t appeal to boys. The team reportedly reworked it for six weeks, but Disney ultimately chose to shelve the project.

Netflix Nixes Millie Bobby Brown’s Olympic Drama After Creative Differences
Netflix has dropped the planned Olympic gymnastics drama after Millie Bobby Brown exited the project due to creative differences. Brown was set to star as gold-medalist Kerri Strug with Gia Coppola directing and Ronnie Sandahl writing, and she planned to produce via PMCA; the project was announced last September. Spokespeople for Netflix and Brown declined to comment. Brown’s other Netflix projects, including Enola Holmes 3 and the rom-com Just Picture It, remain in development, along with Nineteen Steps.

Paramount passes on Landis's G.I. Joe reboot pitch amid concept doubts
Paramount reportedly passed on Max Landis's G.I. Joe reboot pitch, not because of his past allegations but because the concept itself wasn’t appealing; the studio is still courting other writers to revive the franchise while Landis’ name remains a talking point in Hollywood discussions.

BAFTA Alerts BBC Over On-Air Slur, Urges iPlayer Removal
BAFTA notified the BBC about John Davidson’s involuntary racial slur broadcast at the BAFTA Film Awards, with BAFTA pressing for the ceremony’s removal from iPlayer and the BBC launching an expedited editorial review to explain why the incident wasn’t cut, amid scrutiny from UK officials.

Keanu Reeves Leads Apple’s Dark Comedy Outcome, Debuting in April on Apple TV+
Keanu Reeves headlines the Apple Original Films dark comedy Outcome, directed by Jonah Hill and co-starring Cameron Diaz and Matt Bomer. The film follows a beloved Hollywood star who confronts his hidden demons after a blackmail video surfaces, with a global debut on Apple TV+ set for April 10.

Dreams Preserved: 25 New Films Enter the National Film Registry
The National Film Registry added 25 films—ranging from silent-era works to modern classics like Inception, Clueless and Before Sunrise—bringing the registry to 925 titles; the lineup also includes Glory, The Karate Kid, Philadelphia, Frida, The Grand Budapest Hotel and The Incredibles, with Turner Classic Movies planning a March 19 special to air the new entrants.