Warner Bros. takes home Oscar gold, sales boost for "Argo"

Mon Feb 25, 2013 2:46am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

By Lisa Richwine

LOS ANGELES (Reuters) - Time Warner Inc's Warner Bros. basked in the golden glow of coveted Best Picture Oscar for its Iran hostage drama "Argo" on Sunday, giving the Ben Affleck film a likely boost for its ticket and home entertainment sales.

Hollywood's big night often proves a boon to studios that take home Oscars, and this year the haul was spread among several major film companies.

Among the Best Picture competitors, shipwreck drama "Life of Pi" from News Corp's 20th Century Fox studio earned the most awards - four - including Best Director for Ang Lee.

"Les Miserables," made by Comcast Corp's Universal Pictures, secured a Best Supporting Actress win for Anne Hathaway and two others.

Besides grabbing the big prize, "Argo" took home two other trophies for Best Adapted Screenplay and Film Editing.

Winning a golden statuette can boost receipts by one-third or more.

Last year, ticket sales for "The Artist" gained 41 percent after it won the top film prize, according to the box office division of Hollywood.com.

Before this year's awards show, the nominees already racked up a combined $2 billion in global sales, with six of the nine contenders topping $100 million at the domestic box office.   Continued...

Argo director Ben Affleck poses with wife Jennifer Gardner arrive at the 85th Academy Awards in Hollywood, California February 24, 2013. REUTERS/Lucas Jackson