More than halfway through August, Hollywood is hoping to pare summer loses at the box office this weekend as overall sales continue to slump. This weekend's opening contenders are Lions Gate (LGF) flick "The Hitman's Bodyguard" and independently distributed "Logan Lucky."
"The Hitman's Bodyguard" features Hollywood heartthrob Ryan Reynolds opposite heavyweight Samuel L. Jackson. The film, as its name indicates, is about a bodyguard who is hired to protect a widely feared hitman preparing to testify in an international court. The film is predicted to earn $18 million in its first weekend.
"Logan Lucky" is acclaimed director Steven Soderbergh's first release in four years and a film he has purposely and quite publicly kept outside the Hollywood system, working instead with indie distributor Bleecker Street. It follows three siblings who aim to rob a NASCAR race sponsored by Coca-Cola (KO - Get Report) during Memorial Day weekend.
Amid a slow weekend for bigger studios, heavy hitters are looking to next month to shake off a summer of slowing sales. Time Warner-owned (TWX) Warner Bros. and New Line adaptation of Stephen King's infamous "It" could open to more than $50 million in its September 8 open.
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