Cannes Film Festival Celebrates Cinema Amid Shifts in Entertainment

The Cannes Film Festival opened with fewer celebrities but a tribute to 'Lord of the Rings' director Peter Jackson. A Beatles museum will open next year, immortalizing their last rooftop gig. In business, Sony acquired a music catalog for $4 billion, and Netflix's investments hit $135 billion.

The Cannes Film Festival launched on Tuesday night with a somber tone, honoring 'Lord of the Rings' director Peter Jackson. The festival's red carpet, less crowded than in previous years, saw appearances by noted personalities such as Elijah Wood and Alia Bhatt.

In music news, London will soon house a museum dedicated to The Beatles at 3 Savile Row, celebrating the location of their final iconic rooftop concert. Visitors will explore the historic site, once the record company Apple Corps Ltd's headquarters, where 'Let It Be' was recorded.

In the business sector, Sony Music Publishing announced a significant acquisition, purchasing Recognition Music Group's entire catalog for approximately $4 billion. This acquisition adds over 45,000 songs to Sony's portfolio, including hits from major artists like Beyoncé and Rihanna.