Word: warners
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HOLLYWOOD AND SILICON VALLEY were shocked when Terry Semel became CEO of Internet portal Yahoo! in 2001. But the ex-Warner Bros. chief has led the company out of dotcom-bubble troubles to a new era of record profits. He has also done well personally, making a profit of more than $250 million on stock-option sales, according to analysis firm Thomson Financial. Semel talked to TIME's Jeffrey Ressner about technology, Tinseltown and the competition...
...prolific output, she is developing into the Nora Roberts of the religious set. That has not escaped the notice of mainstream publishers, many of which are trying to cash in on the ever burgeoning religious market. Last summer she was signed by Center Street, a new imprint of Time Warner Book Group (like TIME, a division of Time Inc.), which the company says will release "wholesome" books targeted at "America's heartland." A Thousand Tomorrows, her first book for her new publishers, is due out next month...
There is unrest in Middle-earth. Lord of the Rings filmmaker PETER JACKSON has sued New Line Cinema (a unit of Time Warner, TIME's parent) for breach of contract, alleging the studio mishandled home-video sales, video games and merchandising for The Fellowship of the Ring, the first installment of the LOTR trilogy, which grossed nearly $3 billion. New Line declined to comment on pending litigation, but Jackson's complaint isn't the first. In 2003, 18 LOTR actors reportedly banded together and demanded better pay. (They got a bonus.) Actor Sean Astin still grumbled later that he made...
...Fake Watch If you can't beat 'em, join 'em. Fed up with losing revenue and market share to China's ubiquitous DVD pirates, Warner Home Video last week announced that it is setting up a mainland video distribution network with a local partner?a first for any foreign studio?and that it is pricing its discs to compete with local fake copies. The studio (which, like TIME, is owned by Time Warner) is gambling that people will be willing to pay about $3 apiece for authentic DVDs of Warner hits like Harry Potter and the Prisoner of Azkaban. With...
...Warner Brothers Pictures