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Stock impact report

Amid coronavirus theater closures, Sean Parker's controversial Screening Room returns, sort of [Los Angeles Times (CA)]

SONY CORP (SNE) 
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Sean Parker’s controversial video-on-demand startup Screening Room, which roiled the film industry four years ago when it first emerged, is staging a comeback amid widespread disruption in Hollywood due to the coronavirus outbreak. The Napster cofounder made waves in 2016 with the Screening Room , which was proposed as a service that would charge users $50 to watch movies at home while the films are still in theaters. The service never launched and eventually faded from view. On Monday, the nascent company rebranded as SR Labs, named a new chief executive and announced $27.5 million in new capital. Man Jit Singh, former president of Sony Pictures Home Entertainment, will lead the company as CEO, while previous chief Prem Akkaraju will assume the role of executive chairman, SR Labs said. Akkaraju and Parker cofounded the Screening Room. Details about the company’s plans are vague. Originally, Screening Room attracted interest from directors including Peter Jackson and Ron Howard, and i Show less Read more
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