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Originally Posted by SpaceBlackKnight
I think this one of the Paramount titles Criterion sat on and never released. Paramount wouldn't allow renewals so it's no surprise this went back to them. Also, the overseas DVDs and BDs use a totally different transfer (Paramount only has US distribution rights, while Filmrise owns international through J&M Entertainment).
Since this isn't in the Presents line (yet stuff like Back to the Beach and First Wives Club are) and given the recycled DVD artwork, this will probably use the dated HD master used on said DVD. The UK BD at least uses a more recent transfer that is free of the scanner noise and EE that plagues Paramount's HD master.
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I don't think this is a title that Criterion ever had tbh. While it's true that Criterion sometimes licenses certain titles and takes a long time releasing them, there have never been any rumors they had this one. Frankly it's the kind of title that while high profile and critically acclaimed isn't something I could picture them going for. As for the renewal claim, that's not entirely accurate. Yes, there were some titles which they didn't manage to renew, but for the most part they have been able to keep a lot of their titles. Some of them show no signs of going OOP despite the number of years that have passed and if The Virgin Suicides UHD is anything to go by, the Criterion-Paramount relationship is still going strong.
In terms of the Presents line, I do agree that some of the choices have been a bit random and questionable. IMO, Gilbert, Soapdish and Top Secret certainly made more sense than Back to the Beach.
Can't say I understand or agree with your claim related to The First Wives Club. I think it makes complete sense that it's part of the Presents line. I mean, to this day, it has a heavy rotation on tv, has a large following from both women and the LGBTQIA+ community (with a lot screenings, live shows and reenactments from drag queens, etc) and recently even Ariana Grande referenced it in many of her live performances of that awful yet catchy song, Thank U next. Plus, it has long been requested and it will clearly do well.
What do I question is Back to the Beach.... now that I don't understand.