Filed under: MISC
If Hollywood mogul David Geffen ends up acquiring the New York Times, he would convert it into a nonprofit institution, confidantes say. Geffen regards the newspaper as a national treasure meriting preservation into perpetuity. Still, "David would hope the newspaper makes a profit." (Iwantmedia 5/13, http://www.newsweek.com/id/196997 5/13)
Sumner Redstone’s National Amusements has received a first round of bids for its theater chains, with bidders offering enough to help the company pay off its debts. Also: Redstone is being sued by Midway Games creditors over claims the video-game maker was hurt by his stake sale. (Iwantmedia 5/13, http://www.reuters.com/article/americasPrivateEquityNews/idUSTRE54B7ED20090512 5/12)
IMAX and AMC may have some damage control to do here. Bloggers, Diggers and tweeters are passing around a posting by Parks and Recreation co-star Aziz Ansari calling for a boycott of the companies, claiming that the exhibitors are selling an inferior bill of goods. Aziz complains that he paid $5 extra to see Star Trek on an IMAX-branded screen at an AMC multiplex in Burbank, only to discover that the screen size was a fraction of the size of the traditional 76 x 97 feet IMAX screen. The two companies teamed last year to begin offering cheaper co-branded screens in multiple AMC locations. (Cynopsis 5/13)
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