Word: mogul
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...wrath on the oligarchs who picked up much of the power that the Communist Party dropped a decade ago. Boris Berezovsky, the billionaire business tycoon, is in self-imposed exile, while his close associate Nikolai Glushkov, former vice president of Aeroflot, is being interrogated in Lefortovo prison. Media mogul Vladimir Gusinsky was arrested in Spain on demands from Moscow. The Spanish government's decision on his extradition to Russia is pending...
...production teams and burrowing into the production process. "Each company is pursuing a different strategy involving a complex mix of production and distribution elements," says Stephan Seip, media analyst at Merrill Lynch. Some of those strategies have a fantasy feel--for $65 million, you too can be a movie mogul and rub shoulders with the stars. But others are based on long-term plans and objectives backed by years of experience at home. How well are the newcomers likely to do? The inevitable shakeout has begun with EM.TV, and more casualties are bound to follow--events the suits in Hollywood...
...mogul's lawyers are confident they can beat the rap when the extradition hearing goes before the high court in Madrid. Spain, they point out, has no extradition treaty with Russia. Then again, the fact that Gusinsky was held in a nighttime swoop on his villa rather than when he passed through immigration suggests that his arrest was not simply triggered by the presence of his name in Interpol's computers. Some political commentators in Russia have even begun speculating darkly over what political favor Madrid might receive in exchange for arresting Putin's least-loved oligarch...
There's the larger question about whether this form of mini-media conglomerate can survive. The artist-as-mogul trend (Puff Daddy and Madonna, for example) has had a bumpy ride. Whether or not Wu-Tang winds up challenging the media giants, and whether or not the world-domination thing pans out, the band has built something it may be able to live with. "Sometimes I wake up and say, 'Man, we came from nothing and look at what we've got,'" says Diggs. "I just wish America one day can take a look and realize the prodigal children...
Peter, rather sensibly, quits climbing and takes up nature photography. Annie, however, joins forces with an egomaniacal mogul (Bill Paxton) for an assault on K2, said to be the world's toughest mountain to master. His inner skankiness comes out when they fall into a snow cave and have to be rescued before succumbing to altitude sickness...