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August 2001
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TOP 5 U.S.
DISTRIBUTORS

   As of the end ofMay the current top five domestic distributors of 2001 are as follows:

1.) PARAMOUNT (INCL. CLASSICS)
$629,454,372
12.74%

2.) UNIVERSAL (INCL. FOCUS)
$581,899,999
11.78%

3.) WARNER BROS.
$574,262,979
11.62%

4.) 20TH CENTURY FOX (EXCL. SEARCHLIGHT)
$527,691,300
10.68%

5.) SONY (EXCL. CLASSICS)
$511,784,936
10.36%




Theater Chain Says "No More" To IMAX

In a blow to financially troubled giant screen producer Imax, Edwards Cinemas has asked a bankruptcy court to allow it to convert all six of its Imax theaters into conventional theaters, in effect breaking its contract with the Canadian-based company. A spokeswoman for Edwards said, "The Imax films were not profitable for us as an exhibitor. Now, hopefully we'll be able to show things that will bring greater profitability."


Profits Are Down But Disney Plans Another Theme Park

Profits and revenues at the Walt Disney Co. remained essentially flat in the third quarter, due mainly to soft ad sales at its ABC Television network and cable channels and a decline in attendance at its theme parks. Yet, while theme park attendance has been down, the city of Anaheim has given Walt Disney Co. approval to submit applications to build a third theme park in the area already home to Disneyland and Disney's California Adventure. The world's second-largest media company recently reported a 26% drop in net income, due to one-time charges taken to reflect 4,000 job cuts and the closing of its DisneyQuest virtual theme park in Chicago.




Disney Buys Fox Family

The Walt Disney Co. is buying the children's cable network Fox Family Worldwide for $3 billion in cash plus an assumption of $2.3 billion in debt. The deal adds another major cable outlet to Disney's growing stable of cable channels, which already includes ESPN, the Disney Channel and stakes in A&E and Lifetime. Disney plans to rename The Fox Family Channel to ABC Family. The network currently reaches about 81 million subscribers in the United States. Disney bought Fox Family from News Corp. and Saban Entertainment.


Senate Bill Aimed At Runaways And Urban Areas

The principal author of a new bill designed to stem runaway production is hoping to boost the legislation's chances on Capitol Hill by portraying it as a stimulus for economically distressed areas. Included in the bill introduced in the Senate are incentives to encourage filmmakers to bring their productions to poor urban areas and inner cities. Sen. Blanche Lincoln, D-Ark., said, "It's a great industry for small states. If you get a film, it really infuses the economy, especially in small towns." The legislation, the Independent Film and Television Production Incentive Act, was introduced by Lincoln and is co-sponsored by Sens. John Breaux, D-La., Richard Durbin, D-Ill., Mary Landrieu, D-La., and Olympia Snowe, R-Maine.