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FISHRGAME
_____________
Feature
Stories -
112005
- 11th Week tviNews
Convergence
TOP STORIES CONVERGING INTO THE - 12th Week -
March
- 18th
• • TOP STORIES -- March
12-18
110 Bonus
for Steve Jobs Apple
• •
March 16, 2005
• • Chief Executive Steve Jobs,
50, received $1 in salary and no bonus or
restricted stock for the year ended Sept. 25, Apple
said in the filing with the Securities and Exchange
Commission. In the year-earlier period, he got a $1
salary and $74.8 million in restricted stock, which
replaced options that were no longer profitable.
Those shares vest in March 2006.
• • Apple, co-founded by Jobs in
1976, wants to boost cash bonuses because
executives at rival companies are paid better,
according to a study it commissioned. The bonuses
might make it easier for Apple to hang on to
executives while competitors such as Dell Corp. and
Sony Corp. try to copy the success of the iPod
digital music player. MORE
STORY
•
• FCC's Martin Takes Reins From Powell
• •
Kevin J. Martin was named chairman of the
Federal Communications Commission, succeeding
Michael K. Powell.
• • Martin, a commissioner since
2001, takes on one of Washington's toughest jobs,
as new technologies and changing mores threaten to
outpace the agency's ability to regulate
telecommunications and the
media.
• • Martin, 38, is widely viewed
as a free-market conservative who supports tougher
fines against broadcasters and does not oppose
media consolidation. He faces the tasks of having
to police bawdy behavior on airwaves, rule on
several telecom mergers, oversee the transition to
digital television and figure out how to regulate
Internet and wireless phone
service.
•
• Oil Hits Record With No Sign of Slowing
• •
The price of oil closed at a record $56.72 a
barrel Friday, raising fears that the economy could
weaken as energy takes a bigger bite out of
business and consumer
spending.
• • The price jump, totaling 4%
during the week, bolstered prospects of oil at $60
a barrel -- or higher -- and offered no relief for
motorists paying near-record prices at gasoline
pumps.
• • Lofty oil prices are taking a
toll on many industries as businesses and consumers
dig deeper to pay for
fuel.
• • Bush scored a victory as the
Senate narrowly passed a Republican-backed bill to
open part of the Arctic National Wildlife Refuge in
Alaska to oil and gas exploration, which
environmentalists have
opposed.
•
• Viacom Considers Splitting Operations
• •
Five years after creating the world's
third-largest media conglomerate by buying CBS
Corp. for $40 billion, Viacom Inc. is thinking
about splitting in two.
• • Chief Executive Sumner
Redstone said he and Viacom's board were
considering separating the company's mature
operations, including CBS Television and Infinity
Broadcasting, from its faster-growing cable
networks, which include MTV, Nickelodeon, Comedy
Central, BET and
Showtime.
• • Creating two publicly traded
firms would give Viacom's cable group its own
currency -- its stock -- to use for
acquisitions.
• • Cleaving Viacom also would
resolve the question of who would succeed Redstone,
who had set up a horse race between co-Presidents
Leslie Moonves and Tom Freston. Redstone would
continue to control and be chairman of both
companies; Moonves and Freston would each become a
CEO.
•
• Former WorldCom Chief Found Guilty of
Fraud
• •
A federal jury convicted former WorldCom
Inc. Chief Executive Bernard J. Ebbers of
orchestrating an $11-billion accounting fraud. The
verdict could have deep repercussions for other
disgraced executives who say they were unaware of
financial scams taking root beneath
them.
• • Ebbers, 63, was found guilty
of securities fraud, conspiracy and filing false
documents with regulators. He was convicted on all
nine counts that he faced.
• • Legal experts said the jury's
decision boded poorly for toppled executives
Kenneth L. Lay of Enron Corp. and Richard Scrushy
of HealthSouth Corp., who are employing variations
of the above-the-fray
defense.
• • Ebbers will be sentenced June
13, and a lengthy sentence could effectively mean
life behind bars. He declined to comment after the
verdict.
•
• FDA Approves Diabetes Drug Long in the
Works
• •
Regulators approved Amylin Pharmaceuticals
Inc.'s diabetes drug Symlin after an 18-year quest
that investors had once written off as
hopeless.
• • It was the first Food and Drug
Administration endorsement for the small San Diego
company, which was close to closing seven years ago
after a clinical trial of Symlin went
badly.
• • One analyst expects that
Symlin will have peak sales of $240
million.
• • Next month, Amylin is expected
to receive FDA approval of its second drug,
Exenatide, also for diabetes. The company is
developing that drug with industry giant Eli Lilly
& Co.
•
• Disney's Iger Is Named Successor to CEO
Eisner
• •
Walt Disney Co. directors tapped President
Robert Iger to succeed Chief Executive Michael
Eisner, writing the final chapter for an often
stormy 21-year reign.
• • Eisner, 63, will remain at the
post until Sept. 30 and on the board until Disney's
annual meeting early next year, when he will cut
ties to the company he was hired to turn around in
1984.
• • Just a year ago Iger was
viewed as a longshot. But his stock has soared as
new ABC shows have clicked with viewers and profit
has improved.
• • Former Disney directors Roy E.
Disney and Stanley P. Gold said the board failed to
find "a single external candidate interested in the
job and thus handed Bob Iger the job by
default."
•
• GM Cuts Earnings Forecast as Sales Fall
• •
Beset by slumping U.S. sales, General Motors
Corp. slashed its earnings forecast for the
year.
• • The announcement by the
world's biggest auto manufacturer prompted Standard
& Poor's to lower its outlook on the company's
bonds to "negative," moving them one step closer to
a junk bond rating.
• • Detroit-based GM has seen its
U.S. market share dip to a historic low of 24.4% as
sales in the first two months of 2005 fell
9.9%.
• • Contributing to GM's problems
are the cost of sales incentives and the waning
popularity of sport utility vehicles as the price
of oil rises.
• • GM anticipates that full-year
profit will drop to $565 million to $1.1 billion,
or $1 to $2 a share, from a previous forecast of
$2.3 billion to $2.8 billion, or $4 to $5. Cash
flow is expected to dive to a negative $2
billion.
•
• Ohio Congressman Is Tapped as Trade
Chief
• •
Facing tough political battles over a trade
pact with Central America and rising imports from
China, President Bush enlisted a Capitol Hill
insider and loyal supporter as his new trade chief.
• • Rep. Rob Portman (R-Ohio)
would replace Robert Zoellick, who is the new
deputy secretary of State. The Senate is expected
to confirm Portman's nomination as U.S. trade
representative.
• • Portman, 49, was active in
pulling in votes and money for Bush's reelection
campaign in Ohio. Portman, an influential voice in
matters involving Social Security, trade and tax
policy, is viewed as a respected conservative. But
critics of U.S. trade policy said his record
demonstrated a willingness to promote the interests
of big business over labor rights and the
environment.
•
• Genentech Cancer Drug Trial Supports New
Use
• •
Genentech Inc.'s Avastin prolonged the lives
of lung cancer patients in a large clinical trial,
the National Institutes of Health
said.
• • Avastin has been approved for
treating colon cancer but is being studied for
others, including metastatic lung
cancer.
• • The NIH said results of the
trial of 878 patients showed that those who
received Avastin along with chemotherapy drugs had
a median survival of 12.5 months, compared with
10.2 months for those who received only
chemotherapy.
• • Genentech said it would seek
Food and Drug Administration approval to market
Avastin as a lung cancer treatment.
///
• •
------------------------------------------------------------------------
NEWS
CONVERGENCE
///
Center
Page / Feature
NEWS CONVERGENCE
Feature
TIMELINE: Top Stories To
Start The Week With:
107
Writers Win Against
Merimax
/
Court Denies Request by Miramax to Rehear
Ruling
• •
March 16, 2005 /
A U.S. appeals court Tuesday rejected a
request by Miramax Film Corp. to rehear a decision
that might have created an implied contract between
film studios and writers who pitch movie ideas and
scripts. The U.S. 9th Circuit Court of Appeals in
San..
• • A U.S. appeals court Tuesday
rejected a request by Miramax Film Corp. to rehear
a decision that might have created an implied
contract between film studios and writers who pitch
movie ideas and scripts.
• • The U.S. 9th Circuit Court of
Appeals in San Francisco denied a request by
Miramax, which was joined by several other
Hollywood studios, for a rehearing of the September
decision. In that ruling, the court reinstated a
claim by screenwriter Jeff Grosso, who alleged that
Miramax used elements of his script in the 1998
Matt Damon film
"Rounders."
• • The 9th Circuit decision
expanded the protection offered to writers by
allowing them to sue for breach of an implied
contract that the writers would be compensated for
the use of their ideas.
• • Studios responded by asking
writers to waive their rights to bring implied
contract claims before they make a pitch, according
to Aaron Moss, an attorney who isn't involved in
the case.
• • "If you don't have the
leverage, you're forced to sign" the waivers, said
Moss, an entertainment attorney with Greenberg
Glusker Fields Claman Machtinger & Kinsella in
Los Angeles.
• • "It really just makes the
difference between established writers and
lower-end writers even greater," Moss
said.
• • The trial judge's ruling came
in the early stages of litigation, and Miramax may
still have the case dismissed before trial if
Grosso fails to prove that anyone at Miramax saw
his script, Moss said.
• • "We remain extremely confident
that this claim will not be proven," said Matthew
Hiltzik, a spokesman for Miramax, which is owned by
Walt Disney Co.
• • The 9th Circuit on Tuesday
amended its opinion to add that its decision was
based solely on a legal question and didn't
consider whether the trial court record "or any
future record, yet to be developed, supports"
Grosso's claim.
• • Grosso in 1995 wrote a movie
about Texas Hold-Em poker called "The Shell Game,"
and sent his unsolicited script to Gotham
Entertainment Group. Grosso claims that Gotham had
a first-look deal with Miramax and was housed in
the same New York office
building.
• • Neither Gotham Entertainment
nor Miramax purchased Grosso's
script.
• • Grosso contends that elements
of his plot and characters were used in
"Rounders."
• • Courts typically rule that
state breach-of-implied-contract claims are
preempted by the federal Copyright Act. The appeals
court in this case said that implied agreement
constituted an "extra element" not found in a
copyright claim.
• • "This really changed the
landscape with regard to preemption and the ability
of the writers to now have two bites of the apple,"
Moss said.
• • The appeals court upheld the
trial judge's dismissal of a copyright infringement
claim, saying that the two works are "not
substantially similar" and "both works have poker
settings but the only similarities in dialogue
between the two works come from the use of common,
unprotectable poker jargon."
• •
#110FrequencySalesFCC
• •
JUDGE
RULES IN FAVOR OF WOMAN IN A $6M LANDMARK TOXIC
MOLD
CASE,
///
ByLines:
Editors Note
102
FCC
Imposes License Freeze on Low Power
Frequencies
• •
Aggressive acquiring and rapid reselling of
low-power radio permits prompted
complaints.
• • WASHINGTON -- Federal
regulators issued a six-month freeze Thursday on
new low-power broadcast licenses after allegations
that three Idaho companies made $800,000 last year
selling the government-issued permits to religious
broadcasters.
• • The move comes a week after a
coalition of religious, community and
media-watchdog groups complained to the Federal
Communications Commission that Radio Assist
Ministry Inc., Edgewater Broadcasting Inc. and
World Link Radio Inc. were selling permits soon
after acquiring them at no cost from the
FCC.
• • Representatives of the three
Twin Falls companies did not return calls seeking
comment. FCC officials declined to comment.
• • In its order instituting the
freeze, the agency said that it would consider
whether to restrict both outside and multiple
ownership of low-powered facilities "in order to
give local citizens a voice in their
community."
• • Coalition members had urged
the FCC to stop granting permits for so-called
radio translator facilities, which relay satellite
or radio signals into local communities.
• • Critics allege that the Idaho
companies, in aggressively acquiring and brokering
the licenses mostly to Christian groups, are
depriving other churches, community organizations,
colleges and public broadcasters of media access
via low-power broadcast
facilities.
• • A group of enterprising
Christian groups -- including offshoots of Costa
Mesa-based Calvary Chapel Church Inc. and Horizon
Christian Fellowship in San Diego -- have used
translator permits to build something akin to a
nationwide broadcast
network.
• • Mike Stocklin, operations
director of Calvary Satellite Network in Twin
Falls, said the nonprofit organization had 389
translator licenses that it acquired from the FCC
to distribute programming nationwide. But he said
the network had no relationship with the three Twin
Falls companies.
• • "We recognize, as of late,
that there have been some other people that have
done some vast filings for these licenses,"
Stocklin said. "I guess when there is some
confusion in the marketplace it's best to step back
and sort things out."
• • Unlike many other
congregations, the evangelical Calvary Chapel does
not have a central hierarchy. It allows potential
pastors to apply for permission to use the church's
name and operate largely independently, somewhat
like franchisees. Experts say the Calvary churches
playing the most direct role in developing radio
networks are Calvary Chapel of Twin Falls and
Calvary Chapel of Fort Lauderdale,
Fla.
• • Of the 13,000 applications
submitted for translator permits during one week in
March 2003, critics allege, nearly one-third were
filed by the Idaho companies and affiliates of
Calvary Chapel Church.
• • The coalition in its petition
said the Idaho companies sold 85 of the permits to
the religious broadcasters, which then built
translator facilities that retransmit broadcasts
from Calvary Satellite Network. The network offers
"praise and worship music 24 hours a day to
communities throughout the United States and the
world," according to the church's website.
• • The churches, which have not
been accused of wrongdoing, have been moving into
low-power broadcasting aggressively. Calvary Chapel
of Fort Lauderdale paid the Idaho companies more
than $314,000 to acquire 22 translator permits.
• • Supporters of low-power radio
-- stations using 100 watts or less -- have told
agency officials that they fear that the
proliferation of translator facilities will gobble
up scarce airwaves that could be used by low-power
radio stations run by community organizations and
other nonprofit groups.
• • "If it's a choice between a
local low-power FM facility providing local
programming and a translator bringing in a signal
from hundreds of miles away via satellite, the
local programming should win," said Harold Feld, a
lawyer for the coalition.
102
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