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Warner Bros. and Universal Pictures are negotiating a deal with Apple and Comcast to offer audiences digital versions of movies two weeks after their theatre releases, Bloomberg reports. The theater chain and studio businesses have been unable to reach a deal that would let studios distribute more expensive ($30+) digital movies to viewers at home shortly after their release in theaters.

Expand chart

Data: PricewaterhouseCoopers; Chart: Lazaro Gamio / Axios

Why it matters: Studios were hoping to work with the theaters chains on a revenue deal, but now seem to be charging ahead without their blessing, despite the fact that theaters still hold power distributing movies and driving revenue. Noticeably missing from the reported negotiations is Disney, which announced it would build its own entertainment streaming package in 2019.

Bottom line: The movie business is changing quickly and its becoming more reliant on digital distribution than ever (shocking). Cinema revenues are rising, but are being outpaced by digital video rentals and the DVD business is dying, as expected. "Theaters have to focus on providing an experience that goes well beyond what's available at home — hence all the focus on luxury seating, 4DX, live event programming, VR, and better food and beverage options," says Chris Vollmer, Global Advisory Leader, Entertainment and Media at PwC.

Go deeper

"Atmospheric river" swings Northern California from drought to flood

Satellite view of the bomb cyclone swirling off the coast of the Pacific Northwest and the atmospheric river affecting California on Oct. 24. Photo: CIRA/RAMMB

A series of powerful "atmospheric river" storms are delivering historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest.

Why it matters: The atmospheric river, packing large amounts of moisture, was causing Northern California to whiplash from drought to flood, as it slowly moved south overnight. It's triggered widespread power outages, flooding and mudslides.

In photos: Drought-ravaged California lashed by major storm

Workers try to divert water into drains as rain pours down on Oct. 24 in Marin City, California. Photo: Justin Sullivan/Getty Images

A major storm system was pummeling Northern California and parts of the Pacific Northwest with heavy rains overnight.

The big picture: "Atmospheric river" storms, associated with a record-strong "bomb cyclone" offshore from the Pacific Northwest, have brought flooding and mudslides to parts of California that were razed by recent wildfires and in severe drought. It's also caused widespread power outages in California and Washington state.

4 hours ago - World

Sudan's military places civilian prime minister under house arrest

Sudanese Prime Minister Abdallah Hamdok during a 2020 news conference in Khartoum, Sudan. Photo: Mahmoud Hjaj/Anadolu Agency via Getty Images

Sudan's civilian Prime Minister Abdalla Hamdok was put under house arrest and several other ministers were also detained Monday in what appears to be a military coup in the country, per local reports.

Why it matters: The arrests of the civilian faction in the Sudanese government came a day after U.S. envoy Jeffrey Feltman met with the head of the military faction of the Sudanese government General Abdul Fattah al-Burhan and warned him against staging a coup.