Friday, June 19, 2009

The Economist - Business This Week : Hollywood players




Screen Digest reported that despite a huge increase in sales of Blu-ray discs, total sales for the global film-disc business fell by 4.8% last year. The media-analysis firm said the home-entertainment industry’s hope for a revival in fortunes had been undermined by Blu-ray’s “format war” with HD DVD, which impeded the kind of market shift seen in the switch from video to DVD.

Lord Rogers, an architect whose works include the Lloyds building in London, complained that his modernist redevelopment plan for the site of a former barracks in central London had been scuppered by interference from Prince Charles, who waged a private campaign for an alternative classical design. The site was bought for £1 billion ($1.6 billion) by Qatar’s property-investment arm, which is resubmitting the plans. The prince’s building trust said it would participate in a “more open” process.

Six Flags filed for Chapter 11. Revenue has plunged at the company, which owns 20 amusement parks. It needs to restructure around $2 billion of debt that it hopes will allow it to leave bankruptcy protection soon. A new ride to pull in the summer crowds at its Magic Mountain theme-park could also help: its name is Terminator Salvation.

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