SEC contacts Hollywood studios over China dealings

WASHINGTON (Reuters) - U.S. regulators are investigating major U.S. movie studios' dealings with China as the entertainment companies try to get a greater foothold in one of the fastest-growing movie markets in the world. The Securities and Exchange Commission has sent letters of inquiry to at least five movie studios in the past two months, including News Corp's 20th Century Fox, Disney, and DreamWorks Animation, a person familiar with the matter said. ...

Western film companies would do just about anything for a piece of the action in China, which recently overtook Japan as the world’s second-largest movie market. From ensuring big-budget international releases are China-friendly to sharing editorial control with local partners, major studios are pulling out all the stops to break into the difficult, highly regulated market.  

From Shrek to Kung Fu Panda, DreamWorks Animation has crafted some of the most indelible characters in recent animation history. But a bruising earnings report and deep staff cuts have exposed flaws in the company's business model.

Hollywood film studios launched legal action Tuesday against Britain's biggest Internet service provider in a fight against online piracy, thought to be the first case of its kind in the country.The Motion Picture Association (MPA), which represents studios including Twentieth Century Fox and Walt Disney, is urging a judge to grant an order forcing telecoms group BT to cut off access to the Newzbin website.

DreamWorks Animation has decided not to distribute its own films after its longtime deal with Paramount Pictures expires this fall, and it may strike a new pact with Sony Pictures, according to people close to the negotiations not authorized to speak publicly.

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