More movie screens to go dark as companies downsize

Article Abstract:

Downsizing in the movie theater industry continues after AMC Entertainment said that it will close 300 screens, or 75 screens each year, through 2005. The company's announcement came in the heels of Loews Cineplex Entertainment's decision to close 112 theaters with 675 screens. AMC has already closed 35 theaters with 226 screens while Regal Cinemas, the largest theater chain in the US, has closed 40 theaters with 300 screens. The problem besetting the industry resulted from the race to build new megaplexes while having to maintain leases on older and smaller theaters.

Plant shutdown, Motion Picture Theaters, Motion Picture and Video Exhibition, Movie theaters, AMC Entertainment Inc.

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Judge rules Disney owes money to Katzenberg

Article Abstract:

Walt Disney was deemed to owe money to its former president, Jeffrey Katzenberg, although a California Superior Court judge ruled that the company did not violate the former executive's contract. The judge said that Katzenberg deserves to receive royalties from Disney-themed products, which he supervised from the development stage. Katzenberg, who said that Disney owes him $250 million, was judged to be not entitled to get royalties from Club Disney children's venture or the company's on-line icons for promotion.

Diversified Companies, Walt Disney Co.

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MP3.com settles dispute with 2 record companies

Article Abstract:

MP3.com has entered into a settlement agreement with two of the five record companies that filed a lawsuit against it for copyright infringement. The digital music Internet service provider's shares went up to over 11% to close at $19.19 on Jun 9, 2000, as a result of the settlement with Time Warner's Warner Music Group and Bertelsmann's BMG Entertainment. The suit stemmed from accusations that users were unlawfully downloading music without due compensation to the record companies' artists.

Online information services, Warner Music Group, MP3.com

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