You will be redirected back to your article in seconds

Financial Briefs

Goldman Sachs & Co. analyst Richard Simon lowered his investment rating on New Line Cinema Corp. to “market performer” from “trading buy.” Simon says he made the downgrade because two movies released by the company, “Loaded Weapon 1” and “Teenage Mutant Ninja Turtles III,” haven’t fared as well as expected.

Sony Corp. of America will realign key business and support operations between its sales/marketing and manufacturing/research and development arms effective April 1. “This move will effectively redistribute key responsibilities among the members of the management team for Sony’s electronics business” in the U.S., said Ken Iwaki, Sony Corp. executive deputy president who continues as Sony Corp. of America chairman and CEO.

Beverly Hills Video Group has completed the acquisition of MTC Production Center. The deal was arranged by Philips Credit Corp., a unit of Philips N.V. The move will more than double the size of BHVG.

Fitch Investors Service said it has rated Time Warner Entertainment Co. L.P.’s new issue of $ 1 billion 8 3/8% senior debentures due 2023 BBB-. Fitch said proceeds from the offering will be used to reduce bank debt and the credit trend is improving. Separately, Standard & Poor’s Corp. assigned its BB+ to Time Warner Inc.’s $ 3.14 billion 8 3/4% convertible subordinated debentures due 2015 , which are being exchanged for the outstanding series C preferred stock with the same liquidation value. S&P also assigns its BBB- rating to subsidiary Time Warner Entertainment Co. L.P.’s $ 1 billion 8 3/8% senior debentures due 2023.

Laser Video Network Inc. has entered into a contract with Clation Marketing and Communications to design and deploy five prototype in-store audio/video sampling systems. Terms weren’t disclosed.

Warner/Chappell Music Inc., a division of Time Warner Inc., said it reached a multimillion-dollar contract with karaoke software manufacturer Nikkodo U.S.A. Inc. in which top-40 tunes from Warner/Chappell’s song library will be made available on karaoke laser disc, CDG and VHS formats.

More Biz

  • Lupita Nyong'o Harvey Weinstein

    Lupita Nyong'o Details Harvey Weinstein's Advances Toward Her in Op-Ed: 'I Felt Unsafe'

    Goldman Sachs & Co. analyst Richard Simon lowered his investment rating on New Line Cinema Corp. to “market performer” from “trading buy.” Simon says he made the downgrade because two movies released by the company, “Loaded Weapon 1” and “Teenage Mutant Ninja Turtles III,” haven’t fared as well as expected. Sony Corp. of America will […]

  • David Blaine Rape

    David Blaine Accused of Rape by Former Model

    Goldman Sachs & Co. analyst Richard Simon lowered his investment rating on New Line Cinema Corp. to “market performer” from “trading buy.” Simon says he made the downgrade because two movies released by the company, “Loaded Weapon 1” and “Teenage Mutant Ninja Turtles III,” haven’t fared as well as expected. Sony Corp. of America will […]

  • Harvey Weinstein Quentin Tarantino

    Quentin Tarantino on Harvey Weinstein: 'I Knew Enough to Do More Than I Did'

    Goldman Sachs & Co. analyst Richard Simon lowered his investment rating on New Line Cinema Corp. to “market performer” from “trading buy.” Simon says he made the downgrade because two movies released by the company, “Loaded Weapon 1” and “Teenage Mutant Ninja Turtles III,” haven’t fared as well as expected. Sony Corp. of America will […]

  • Harvey Weinstein

    LAPD Investigating Rape Claim Against Harvey Weinstein

    Goldman Sachs & Co. analyst Richard Simon lowered his investment rating on New Line Cinema Corp. to “market performer” from “trading buy.” Simon says he made the downgrade because two movies released by the company, “Loaded Weapon 1” and “Teenage Mutant Ninja Turtles III,” haven’t fared as well as expected. Sony Corp. of America will […]

  • Shia LaBeouf Toronto Film Festival

    Shia LaBeouf Found Guilty on Count of Obstruction in July Arrest

    Goldman Sachs & Co. analyst Richard Simon lowered his investment rating on New Line Cinema Corp. to “market performer” from “trading buy.” Simon says he made the downgrade because two movies released by the company, “Loaded Weapon 1” and “Teenage Mutant Ninja Turtles III,” haven’t fared as well as expected. Sony Corp. of America will […]

  • Scrips Discovery Partnership

    A Merger Between Scripps and Discovery Could Be a Smart Fit

    Goldman Sachs & Co. analyst Richard Simon lowered his investment rating on New Line Cinema Corp. to “market performer” from “trading buy.” Simon says he made the downgrade because two movies released by the company, “Loaded Weapon 1” and “Teenage Mutant Ninja Turtles III,” haven’t fared as well as expected. Sony Corp. of America will […]

More From Our Brands

Access exclusive content