Daniel Loeb Sells His Sony Stake, The CW Renews ‘Flash’ and ‘Jane,’ James Wan Signs Deal With New Line

Daniel Loeb and His Hedge Fund, Third Point, Finally Avails Itself of Sony Ownership

Outspoken investor had owned approximately seven percent of the company, repeatedly sparred with ownership, and even went toe-to-toe with George Clooney. (LAT)

The CW Has Early Faith in Two of Its Rookie Shows

Network president Mark Pedowitz gives both The Flash and Jane The Virgin full season orders after only a couple airings each. (MF)

A Day After ‘The Conjuring 2’ Was Pushed to 2016, James Wan Confirms He’s Returning to Direct

Deal is part of a larger one with New Line, giving the director-producer a first look deal with the Warner Bros.-based label. (DH)

The Dream Team of Meryl Streep and Hugh Grant Will Combine Their Powers for ‘Florence’

Stephen Frears is on board to direct the tale of Florence Foster Jenkins, an heiress and socialite whose driving passion was to be an opera singer, despite her lack of talent. (EMP)

Meanwhile, FX Has Had Enough of ‘The Bridge’

Cable network cancels the low-rated drama, based on a Scandinavian show of the same name, after two season. (USA)

Company Behind Wearable Device to Enhance Cinematic Viewing Experience Raises $542 Million

Magic Leap completed its Series B financing round led by Google, with participation from Legendary Entertainment, Qualcomm and other investors (VAR)

Bryan Singer’s Accuser Gets a Scolding from His Trial Judge

Michael Egan has had several blows to his credibility, the latest coming after he falsely claimed not to have received assistance with legal papers that in fact had been prepared and filed by a law office. (THR)

Charlie Cox Says the Upcoming ‘Daredevil’ TV Show Will Be Marvel’s Darkest Project Yet

The actor who plays the title character and his alter ego, blind lawyer Matt Murdoch, also says he’s excited about the “responsibility” that goes with it. Show premieres on Netflix in 2015. (HV)

How to Get Ahead on Your Oscar Scorecard: A Guide to the Eight Doc Shorts on the Doc Short List

The group is notable for having fewer Oscar vets than usual (only one is by a former Oscar nominee) as well as for being an especially bleak bunch. (NF)

Screenwriters: Why Specs Fail — Ignorance Vs. Arrogance

The desire to write a successful spec script is an amorphous endeavor and it is best done from a position of knowledge. When writers think they have “The Formula,” it’s then the requirements and/or the needs change. (SM)