Category / Entertainment

Pinnacle Entertainment to Participate in the Bank of America Merrill Lynch … 2012/01/27 at 10:39 pm

LAS VEGAS, Jan. 17, 2012 — /PRNewswire/ — Pinnacle Entertainment (NYSE: PNK) management will participate in the Regional Roundtable: Issues in Regional Gaming panel, a part of the Bank of America Merrill Lynch Gaming Conference, on Thursday, January 19, at 9:20 am PT (12:20 pm ET), in Las Vegas, NV.#xA0; The webcast will be accessible at the Investor Relations section of the Companys corporate website, www.pnkinc.com.

About Pinnacle Entertainment

Pinnacle Entertainment, Inc. owns and operates seven casinos, located in Louisiana, Missouri, and Indiana, and a racetrack in Ohio. In addition, Pinnacle is developing LAuberge Casino Hotel Baton Rouge with an expected opening in the Summer of 2012, and in August 2011, the Company acquired a 26% ownership stake in Asian Coast Development (Canada) Ltd. (ACDL), an international development and real estate company currently developing Vietnams first large-scale integrated resort on the Ho Tram Strip.

SOURCE Pinnacle Entertainment

Lions Gate acquires Summit Entertainment at 6:26 am

Subscriber Content Preview | Request a free trialSearch

Consumer Retail

Sign up for Consumer Retail Newsletter

Print|Share|Discuss|Reprint
Lions Gate acquires Summit Entertainment
by Demitri Diakantonis|Published January 17, 2012 at 4:26 PM
Lions Gate Entertainment Corp. has acquired privately held Summit Entertainment LLC for up to $420 million in cash and stock, in a deal that will expand its film and home entertainment division.

Financial terms of the deal, announced Friday, Jan. 13, call for Santa Monica, Calif.-based Lions Gate to fund the acquisition by using $55 million of its own cash, $45 million from proceeds from recently issued senior convertible notes due in 2017, $50 million in stock up front and another $20 million in either cash or stock at Lions Gates option within the next 60 days.

The remainder of the purchase price is going to funded through the assumption of Summits cash. A total of $343.5 million in cash was paid at the deals closing Friday, according to regulatory filings.

Summit, also of Santa Monica, could be entitled to up to another $7.5 million in cash, depending on the future financial performance of its Twilight film franchise, according to the filings. The film has so far grossed more than $2.5 billion at the box office globally.

This transaction continues Lions Gates long-term growth strategy of building a diversified worldwide media company through a combination of disciplined, accretive strategic acquisitions and organic growth while maintaining a solid balance sheet, said Lions Gate CEO Jon Feltheimer and vice chairman Michael Burns in a joint statement.

Twilight will be a healthy addition to Lions Gates film portfolio that features the Hunger Games, which will be released in March. On the television side, Lions Gate is best known for the Mad Men and Weeds series.

Lions Gate refinanced Summits current term loan with a $500 million credit facility that will be due in 2016. Lions Gate said it would likely pay off the debt before its maturity from the cash flow it is expecting to derive from Summit.

We believe that the combined entity will be even greater than the sum of its parts and our dramatically enlarged media platform will create tremendous opportunities for all of us within the Summit and Lions Gate families, said Summit co-chairmen and founders Rob Friedman and Patrick Wachsberger in a joint statement.

The New York Post reported Tuesday that Lions Gate hired an unnamed investment bank to shop TV Guide, which includes the branded television network and website, to private equity firms. The TV Guide magazine is owned by Open Gate Capital and would not be part of the process, according to the report.

Lions Gate acquired the TV network and website in 2009 from Macrovision Corp. for about $240 million.

JP Morgan Securities LLCs William Hageman, Barclays Capitals Alex Iosilevich and Craig Mineard of Jefferies amp; Co. were Lions Gates financial advisers. David Shapiro, David Alderstein, Nelson Fitts, Jeannemarie OBrien, Joshua Feltman and Joshua Holmes of Wachtell, Lipton, Rosen amp; Katz provided legal representation.

David Eisman and Brian McCarthy of Skadden, Arps, Slate, Meagher amp; Flom LLP along with Joshua Grode and Paul Swanson of Liner Grode Stein Yankelevitz Sunshine Regenstreif amp; Taylor LLP represented Summit.

Lions Gate shares were trading more than 4% higher, to $8.96, on Tuesday, with its market capitalization near $1.2 billion.

Lions Gate did not return calls. A Summit spokesman declined comment.

Share:

Tags:
Alex Iosilevich
|
Barclays Capital
|
Brian McCarthy
|
Craig Mineard
|
David Eisman
|
David Shapiro
|
JP Morgan Securities LLC
|
Jefferies Co.
|
Joshua Feltman
|
Joshua Holmes
|
Lions Gate Entertainment Corp.
|
Macrovision Corp.
|
Michael Burns
|
Nelson Fitts
|
Paul Swanson
|
Skadden Arps Slate Meagher Flom LLP
|
Summit Entertainment LLC
|
TV Guide
|
Wachtell Lipton Rosen Katz

Mathew Knowles’ Music World Entertainment Celebrates Its 20th Anniversary 2012/01/26 at 2:20 am

HOUSTON, Jan. 17, 2012 /PRNewswire via COMTEX/ –
Mathew Knowles’ Music World Entertainment celebrates its 20th Anniversary this year. In 1992, after nearly 20 highly successful years at Xerox and other leading companies, Knowles left Corporate America to pursue his passion for the music and entertainment industries. He turned one of his bedrooms into his office, obtained a DBA, had a company phone line installed–which he still has today–and officially opened the doors of Music World Entertainment.

Over the past two decades, Music World Entertainment has experienced tremendous growth and extraordinary success. It has expanded and diversified into one of the world’s leading music and entertainment conglomerates, with record sales exceeding 300 million worldwide. Its worldwide platforms include successful record label ventures; management services for recording artists and producers; artist development services; endorsement and partnership deals; performance and event facilities; a master catalog series; film and television ventures; licensed merchandise products; philanthropic work; and investment and property holdings. Knowles established several recording imprints under Music World Music, including Music World Gospel, Music World Kids and Music World Country/Compadre. Music World Music has had an unprecedented impact on music around the globe through its GRAMMY® Award-winning artists, legendary entertainers and music icons, top catalogue compilations and celebrated soundtracks.

Knowles’ entree into the music business was as a dad who was supporting the passions and dreams of his daughters, Beyonce and Solange. In the beginning, he took his daughters to dance classes and rehearsals. When Beyonce became a member of a performance group called Girls Tyme, Knowles became more involved. He helped out with the group and accompanied the girls to Orlando, Florida when they were invited to appear on Star Search. The group lost the competition. With the girls heartbroken and in tears, Knowles sought advice from show host Ed McMahon, who told him that past losers on the show had retooled, made some personnel and other changes within their groups, and become very popular (Boys II Men, Justin Timberlake and Usher, to name a few). He became co-manager of the group, reshaped it, and worked hard to get the girls as many performance opportunities as possible while he was attempting to get them a record deal. In 1995, Knowles negotiated a production deal for the group with Darryl Simmons (songwriting partner with Kenneth “Babyface” Edmonds and Antonio “LA” Reid) and Elektra Records. However, The Dolls (the group’s name at that time) were dropped by Elektra before they had an opportunity to record a CD. After more time, more gigs, several name changes (The Dolls, Cliche, Something Fresh, and Destiny), and lots of hours and money spent at Kinko’s preparing and mailing promotional materials to record companies, they eventually landed a record deal with Columbia Records in 1997.

During this time, Knowles began managing Lil’ O, a rapper who had attained some regional success in the Houston area. Knowles made his first record deal when he got Lil’ O signed with MCA Geffen/Interscope. Before Destiny’s Child had recorded their first record, he was able to get them featured on the video for Lil’ O’s single, “Can’t Stop.” It was the beginning of Knowles’ belief that his artists should work together–a philosophy that is a central tenet of Music World Entertainment today.

A visionary leader, Knowles has expanded his company through successful acquisitions and partnerships. From 2002-2006, Music World Entertainment was a part of the Sanctuary Records Group, a record label based in the United Kingdom, which had been the largest independent record label in the UK and the largest independent music management and urban music management company in the world. As president of Music World/Sanctuary Urban Music, he launched albums for such prestigious artists as Earth Wind & Fire, the O’Jays, Chaka Khan and Kool and the Gang, which are now part of Music World Music’s popular Music World Masters Series. The company also released DVDs of live performances of Mary J. Blige, as well as De La Soul’s CD, The Grind Date. In addition, it released Ray J’s third album, Raydiation, which was a joint venture with his independent label KnoCKOUT Entertainment. Through acquisitions of Troy Carter, Max Gouse, Tony Davis, Kendu Isaacs, and Demmette Guidry, the Music World/Sanctuary Urban management roster included: Destiny’s Child, Eve, Mary J. Blige, Solange, D12, Beyonce, Kelly Rowland, Michelle Williams, Mary Mary, and Nelly. In addition, multiple GRAMMY winner Nas had his first #1 album, and recording artist Lyfe Jennings had his first #1 Billboard R&B hit. In 2006, Knowles purchased his company back from Sanctuary Records Group.

Through Music World Music, Knowles also has established joint ventures with Sony Music, Interscope/Geffen, Fontana/Universal, Integrity Africa, Fontana International and Sony Brazil. In addition, Knowles has negotiated mega endorsement deals and strategic partnerships with Fortune 50, 100 and 500 corporations across various industries, including Wal-Mart, BET, the American Heart Association/American Stroke Association, ESSENCE Communications, American Express, L’Oreal, General Mills, Verizon, Pepsico (Pepsi), McDonald’s, Nintendo, Giorgio Armani (Emporio Armani Diamonds), DirecTV, Chesebrough-Ponds (Vaseline), Ocean Pacific, Soft Sheen-Carson, Crystal Geyser, Samantha Thavasa and others.

In 2002, Knowles founded Spirit Rising Music, which is now Music World Gospel, as a faith-based record and management company under Music World Music. Celebrating its 10th Anniversary this year, it is currently the largest owned and operated African American Gospel label in the world. Music World Gospel features a roster of award-winning recording artists, joint ventures and special projects including Trin-i-tee 5:7, Vanessa Bell Armstrong, Brian Courtney Wilson, Micah Stampley, Juanita Bynum, Le’Andria Johnson, Amber Bullock, Andrea Helms, and Elder Goldwire, as well as ESSENCE Gospel, Ultimate Gospel, the Most Powerful Voices, The Gospel Superfest, Spirit Rising and The Pastor Rudy Experience brand compilations CDs. In 2007, through Music World Music, Knowles acquired the country music catalogue of Compadre, which includes recordings of GRAMMY award-winning artists and unique country music compilations featuring artists such as country singer and cultural icon Johnny Cash, as well as Billy Joe Shaver, James McMurty, Trent Willmon and Kate Campbell, among others. Knowles also launched the family oriented music imprint, Music World Kids. The label has released youth projects that include: Baby Jamz, Krazy Kuzins, Kid’s Rap Radio and the Music World Kids CD 5-pack. The venture also has released music from Nickelodeon’s popular cartoon series, Wow! Wow! Wubbzy!

Music World Music has received recognition and accolades within the industry for its astounding success. It was crowned one of the Top Imprint Labels of the Decade (2000-2009) by Billboard magazine. With hits across the music landscape–from Top 40, to R&B, to hip hop, to gospel, Music World Music was also named the #1 Dance Imprint Label in the world by Billboard magazine 2009.

Top Music World Music album releases include: Destiny’s Child’s RIAA gold album, This Is The Remix, and RIAA platinum album, 8 Days of Christmas; Solange’s debut project, Solo Star; the ESSENCE Music Festival series; Dancelicious, a compilation CD featuring Beyonce, Solange and Kelly Rowland club mixes; GRAMMY nominated soundtracks from Dreamgirls and Roll Bounce; and the soundtracks from Cadillac Records and MTV’s Carmen: A Hip Hopera, among others.

Through Music World Entertainment and Artist Management, Knowles has executive produced over 100 award-winning, platinum and gold albums in multiple genres, including pop, R&B, gospel, dance, and country, as well as soundtracks and special themed projects. Under Music World Artist Management, Destiny’s Child became a global phenomenon and was named the Best Selling Female Group of All Time in popular music, selling over 100 million records and collecting nearly 200 awards, including GRAMMY Awards, World Music Awards, American Music Awards, MTV Awards (U.S., Europe and Asia), Billboard Awards, BET Awards, NAACP Image Awards, and countless others. Billboard magazine ranked the group as one of the Greatest Trios of All Time and, in 2008, inducted them into the All Time Hot 100 Artists. Under Knowles’ guidance, both Destiny’s Child and Beyonce experienced spectacular success during the decade between 2000 and 2009. Destiny’s Child was named on Billboard magazine’s Top 10 Artists of the Decade (2000-2009) and, as a solo artist, Beyonce was crowned Billboard’s number one Artist of the Decade–Female (2000-2009) and number 4 Top Artist of the Decade (2000-2009). During that time, Knowles also successfully launched and managed the solo careers of the other members of Destiny’s Child: Michelle Williams and Kelly Rowland, who have also had unprecedented international success.

The Music World Entertainment strategy that Knowles established develops all aspects of an artist’s career. A centerpiece of this approach is his signature Star Power(TM) Boot Camp, which includes vocal coaching, choreography, fitness, A&R, styling and wardrobe, media training, photo shoots, and music business 101.

Knowles’ successful track record has expanded to include film. He is executive producer of the #1 box-office hit, Obsessed. He has also ventured into television. Knowles executive produced and is featured in two international reality series: UK’s #1 rated show, Chancers, and the new series Breaking From Above, a six-episode program based on the British girl group From Above and their struggles to stay on top. The series airs on MTV International and can be viewed in over 160 countries, including the United Kingdom, Ireland, Spain, France, Germany, Denmark, Belgium, Sweden, Norway, Finland, Hungary, Asia, Portugal, Greece, Poland, and Latin America. The group, which came to Knowles’ attention when they performed as the opening act on Beyonce 2009 “I Am…” Tour in the UK, was signed by Knowles to Music World Artist Management and Music World Music. From Above’s debut CD, Breaking From Above, was released internationally in December 2011.

The Houston headquarters of Music World Entertainment is home to the House of Dereon Media Center (HODMC), a performance and event facility that hosts live music events featuring an international roster of artists from various musical genres. Multiple GRAMMY winner and platinum selling artist John Legend and award-winning British sensation Estelle have been among the many featured performers there. Celebrity and TV host, Jimmy Fallon, has also made use of the facility, as well as MTV, BET and other media and entertainment conglomerates. The HODMC also is used for special events such as charity galas, political events, corporate parties and private gatherings.

Music World Studios has a rich history of recording projects for some of the top artists and musicians in the business. Originally constructed on the Music World Entertainment Campus in 2004 to provide a private recording studio and dance rehearsal space for Destiny’s Child, today the studios are used for recording projects for Music World artists, as well as other talent in the music industry. CDs by Destiny’s Child members that were recorded at Music World Studios include: Destiny’s Child’s Destiny Fulfilled, Beyonce’s B-Day and Kelly Rowland’s Ms. Kelly, among many others. These CDs garnered numerous #1 singles and international acclaim. Music World Gospel artists Trin-i-tee 5:7, Brian Courtney Wilson, Vanessa Bell Armstrong, Le’Andria Johnson, Amber Bullock, Andrea Helms and Pastor Rudy Rasmus have all recorded projects there. Award-wining and multi-platinum and gold-selling artists who have recorded projects at Music World Studios include: George Clinton, De La Soul, Rick Ross, Estelle, Lil Wayne, Mario and Ginuwine. Music World Recording Studios and Rehearsal Hall provides full engineering, mixing and editing services by highly-trained experts using the most technologically advanced equipment, all in a private and exclusive environment in Downtown Houston. The studios, which also include a VIP lounge, are now available for use by the public.

Philanthropy has always been part of Music World Entertainment’s corporate responsibility and has always been important to Mathew Knowles. Along with Tina Knowles, and daughters, Beyonce and Solange, he established the “Survivor Foundation,” “The Knowles Rowland Center” and the “Knowles-Temenos Place Apartments” (St. Johns Church, Downtown Houston), an apartment complex for homeless individuals that provides affordable housing, supportive services, and employment resources to people who are on their journey to self-sufficiency. The Knowles also built two homes in Houston for Habitat for Humanity. In addition, the family has donated to numerous non-profit organizations throughout the world.

As Music World Entertainment celebrates its growth and accomplishments over the past 20 years, it is making plans to build on that legacy of success. For Music World Entertainment, the future starts now. The company will make several announcements in the coming months regarding new artist signees, and new projects, acquisitions and partnerships.

www.musicworldent.com

Contact: Gwendolyn Quinn GQ Media & Public Relations 718.622.4100 GwendolynQuinn@aol.com

SOURCE Music World Entertainment

Copyright (C) 2012 PR Newswire. All rights reserved

Millennium Entertainment Acquires Kate Hudson’s ‘A Little Bit of Heaven’ 2012/01/20 at 10:31 am

Millennium Entertainment, not to be confused with Millennium/Nu Image, has picked up the North American rights to the romantic dramedy A Little Bit of Heaven.

Celine Dion, Caesars Entertainment and AEG Live Team Up for Special Evening … 2012/01/19 at 6:10 am

LAS VEGAS, Jan. 17, 2012 /PRNewswire via COMTEX/ –
Doctors at Children’s Hospital Boston are just another step closer to securing a cure for sickle cell disease thanks to a little help from some superstar friends. More than $1 million was raised in support of their research efforts Sunday, January 15 during the “Play Without Pain: Children’s Sickle Cell Benefit,” a partnership with international megastar Celine Dion, Caesars Entertainment, AEG Live and Children’s Hospital Boston. Held at Caesars Palace, the evening included a performance of Celine Dion’s glamorous show directed by Grammy Awards producer Ken Ehrlich, including a touching tribute to sickle cell victims during her rendition of Billy Joel’s “Lullabye.”

To view the multimedia assets associated with this release, please visit:

http://www.multivu.com/mnr/54153-celine-dion-play-without-pain-children-s-sickle-cell-benefit

“As a parent, I’ve been touched by the stories that were shared with me about the impact sickle cell anemia has on millions of children around the world,” said Dion. “We know that doctors with Children’s Hospital Boston are very close to discovering life-saving treatments for these children, and I wanted to help. No child should have to live a life filled with pain and, hopefully, tonight’s benefit show moves us one step closer to ending their suffering.”

Sickle cell disease is a debilitating condition that causes excruciating pain, organ failure, stroke and early death. It is the most common inherited blood disorder in the United States, affecting 100,000 Americans and the number of sufferers is in the millions worldwide. Affected populations are mainly of African descent, but the disease also strikes individuals of Hispanic, Mediterranean and Caribbean heritage. And its treatment is costly: an estimated $1.1 billion a year in the U.S. alone.

“Even though sickle cell is one of the most common inherited disorders, research on the disease is historically under-funded,” said Gary Fleisher, M.D., Physician-in-Chief at Children’s Hospital Boston. “The team at Children’s is making important progress toward developing new gene therapies that could help millions of sickle cell sufferers across the globe. We are incredibly grateful to Celine Dion and Gary Loveman, with Caesars Entertainment, for helping us work toward our fundraising goals and inching us ever closer to achieving a cure.”

Researchers at Children’s Hospital Boston have found a genetic switch that overrides the sickle cell defect and have identified the gene that controls the unhealthy form of hemoglobin, the protein responsible for sickle cell disease. Treatments to flip the switch promise to deliver lifelong relief. The new therapies would turn off the unhealthy form of hemoglobin and turn a healthy form back on. These therapies promise to reverse disease rather than simply treat symptoms.

“Children’s physician-researchers have done what others have tried to do for decades; they’ve found a way to override the sickle cell defect,” said Gary Loveman, Chairman, President and Chief Executive Officer of Caesars Entertainment and a member of Children’s Hospital Boston Board of Trustees. “I am pleased that tonight’s benefit has placed these doctors on a path toward delivering life-saving treatments to patients and proud that Caesars could play a part in helping meet their goals. I hope that tonight’s benefit will inspire others to join me, Celine and the doctors of Children’s Hospital Boston in the fight to find a cure.”

Prior to Celine’s benefit performance guests were treated to dinner at Restaurant Guy Savoy, where they enjoyed a menu personally created by the acclaimed French chef who flew in from France especially to participate in the benefit. Guests enjoyed Savoy’s signature artichoke soup, turbot and black truffle mouselline, beef Wellington and, for dessert, chocolate fondant with chicoree sauce. Guests were also treated to an exclusive meet and greet with Celine Dion prior to the show.

The benefit concluded with a VIP cocktail reception at PURE Nightclub featuring a special performance by Las Vegas-based entertainer A.J. Green, a 19-year old sickle cell patient. Green’s performance at PURE included hits from his debut album Whatever You Need including “Jump,” “I’ll Be There” and “Superstar,” a Luther Vandross cover. The reception was sponsored by Angel Management Group and Southern Wine & Spirits.

SOURCE Caesars Entertainment

Copyright (C) 2012 PR Newswire. All rights reserved

Andrew Hurwitz Joins Entertainment Law Firm Frankfurt Kurnit at 12:06 am

By Joshua L. Weinstein at TheWrap

Tue Jan 17, 2012 5:56pm EST

Sports and Entertainment Come to Scarinci Hollenbeck 2012/01/18 at 2:28 am

LYNDHURST, NJ, Jan 17, 2012 (MARKETWIRE via COMTEX) –
Donald Scarinci of Scarinci Hollenbeck announced today the official
release of Scarinci Hollenbeck’s “Sports and Entertainment Law Blog,”
edited by Anthony R. Caruso, the Chair of its Sports and
Entertainment Law Practice Group. Caruso is nationally recognized as
a lawyer appearing with clients and as a commentator on CNBC, NBC,
Fox, and other media outlets.

When asked to comment, Mr. Caruso said, “The blog is geared towards
legal and business issues in the sports and entertainment industry.
Business managers, actors, athletes, and others in the sports and
entertainment world will have access to important updates and legal
perspectives in the field.” Donald Scarinci, Managing Partner at
Scarinci Hollenbeck, also commented: “The new blog will inaugurate
the firm’s newly established group and highlights the talent and
leadership of Anthony Caruso, a highly respected sports and
entertainment law practitioner.”

Anthony Caruso’s Sports and Entertainment Law Blog is one component
of Scarinci Hollenbeck’s new integrated social media website design,
which is being rolled out during the month of January in conjunction
with the New Jersey Chamber of Commerce’s 75th annual “Walk to
Washington” on January 26, 2012. The Firm has already launched its
Tax, Estate & Trust blog, available at
www.taxtrustestatenews.com ,
and its Bankruptcy and Creditors’ Rights blog at

www.newjerseybankruptcynow.com . Scarinci Hollenbeck also released a
YouTube channel last week, which can be viewed at:

www.youtube.com/scarincihollenbeck .

If you are interested in signing up to receive the most recent
information pertaining to sports and entertainment law, please join
the blog’s email list by visiting:

www.sportsentertainmentattorney.com .

Scarinci Hollenbeck is a full-service, general practice law firm that
provides a broad range of legal services to a diverse group of
clients. The firm has offices in Lyndhurst and Ocean, New Jersey and
New York, New York. For more information pertaining to this press
release, or to see updates, please visit the firm’s website at:

www.scarincihollenbeck.com and follow us on Twitter, Facebook and
LinkedIn.

Contact:
Peter Moeller
Director of Marketing and Communications
201-896-4100 x 3324
psmoeller@scarincihollenbeck.com

SOURCE: Scarinci Hollenbeck

mailto:psmoeller@scarincihollenbeck.com

Copyright 2012 Marketwire, Inc., All rights reserved.

Trans World Entertainment Announces Holiday Sales Results 2012/01/16 at 12:24 pm

ALBANY, NY, Jan. 5, 2012 — /PRNewswire/ — Trans World Entertainment Corporation (NASDAQ: TWMC) today reported a comparable store sales decrease of 2% for the five-week and nine-week periods ended December 31, 2011.#xA0; Total sales for the nine-week period were $155 million compared to $187 million for the same period last year, a decrease of 17%.#xA0;#xA0; The Company operated an average of 17% fewer stores during the nine-week period as compared to last year.

For the eleven-month period ended December 31, 2011, comparable store sales decreased 3%. Total sales for the period decreased 17% to $505 million compared to $608 million during the same period last year.#xA0; The Company operated an average of 17% fewer stores during the eleven month period as compared to last year.

Trans World Entertainment is a leading specialty retailer of entertainment products, including music, video, video games, trend, electronics, and related products. The Company operates retail stores in the United States, the District of Columbia, the US Virgin Islands, and Puerto Rico, primarily under the names fye. for your entertainment and Suncoast and on the web at www.fye.com, www.wherehouse.com, and www.secondspin.com.

Certain statements in this release set forth managements intentions, plans, beliefs, expectations or predictions of the future based on current facts and analyses.#xA0; Actual results may differ materially from those indicated in such statements.#xA0; Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission.

#xA0;

#xA0;

#xA0;

SOURCE Trans World Entertainment Corp.

Why the ESA is Wrong to Support SOPA 2012/01/13 at 7:06 pm

The Entertainment Software Association has reasserted their support of the anti-piracy legislation currently being debated in congress. The ESAs members include giants in the video game and software industry such as Nintendo, Sony, EA and many more. Earlier reports suggesting some of these companies had withdrawn support from SOPA have turned out to be false.

In its statement, the ESA claims that As an industry of innovators and creators, we understand the importance of both technological innovation and content protection, and do not believe the two are mutually exclusive. Rogue websites those singularly devoted to profiting from their blatant illegal piracy restrict demand for legitimate video game products and services, thereby costing jobs.

Our industry needs effective remedies to address this specific problem, and we support the House and Senate proposals to achieve this objective. We are mindful of concerns raised about a negative impact on innovation. We look forward to working with the House and Senate, and all interested parties, to find the right balance and define useful remedies to combat willful wrongdoers that do not impede lawful product and business model innovation.

No doubt piracy is a problem, and many of the rogue sites which the SOPA/PIPA legislation seeks to shut down exist for no other reason save to enable piracy of games, music, and film that other people and companies worked hard and spent money to create.

The issue is not that something should or should not be done most interested parties can agree that some move to better cope with piracy threats is reasonable if not as pressing an issue as many in the entertainment industry argue.

The real problem is that the legislation in question goes too far, giving over too many powers to the government and giving away too much to the industry. So what are the problems with SOPA?

Intermediary Liability

SOPA sets up new rules for intermediary liability creating new stopgaps between the party accused of piracy and the party making the accusations. Under the new rules, the State Department could order intermediaries to block access to or censor the accused website without any due process. No court would be involved. The State Department could simply order a hosting company to shut down the offending website and it would be bound to do so by law.

The State Department Could Cut Off Funds to Rogue Websites

The State Department would have similar powers over access to funds and could cut off funds to so-called rogue sites without any legal steps taken. With the definition of rogue essentially left up to the entertainment industry and other powerful corporate interests, this has implications for basically everyone online. The line between fair use and copyright infringement is hardly a bright one. You might be a pirate without even knowing it.

So What is a Rogue Site Anyways?

When Ralph Lauren tried to get boingboing to take down a photo-shopped picture from their site the editors at boingboing claimed fair use. The legal people at their ISP agreed. The photo stayed up in spite of Ralph Laurens best attempts to take it down. The issue was decided out in the open. If Ralph Lauren wanted to, they could have taken the whole thing to court.

Under SOPA, its quite possible that the State Department could have decided that boingboing was in violation of copyright rules and ordered the site taken down without any due process at all, at least in the traditional sense.

Welcome to the Firewall it Gets Worse Here Every Day

Now that youre a rogue, what happens next? This is where the fun begins. A new national firewall will block access to your site and your terrorist rogue friends sites so that nobody can hurt the entertainment industrys feelings. This is similar to firewalls in place in countries like Iran and Saudi Arabia and other, uhm, rogue states. America will be in good company.

Instead of the complaining party having to prove that you are guilty of piracy or IP violations, you will have to prove in court that your site isnt in violation to get back online and out from behind the firewall. Guilty until proven innocent is also used in various dictatorial regimes across the globe.

SOPA isnt just written by the entertainment industry, its administered by the entertainment industry.

Everything is market-based these days, and somehow that even applies to censorship. The term market-based is taking on a distinctly Orwellian tone. With SOPA, it makes the leap.

The State Department may be in charge of this mess in name, but industry players are given free reign to put together their own lists of bad actors and rogues and provide those lists to ISPs and web hosting companies who will then, under the law, be required to block or take down accused websites. In other words, Ralph Lauren doesnt even need the government to go after boingboing under SOPA theyll be sheriffs deputies with the full backing of the law.

Linkbait

Under SOPA, even linking to an offending website can get you taken offline. The definition of copyright infringement would become so loose that simply associating yourself with a site that has been accused of violating IP is enough to make you guilty, too. Aiding and abetting enemy has never been so easy.

So if I just link to that boingboing post I link to above, and then Ralph Lauren uses their new SOPA powers to take boingboing offline, they can then come after me and make sure that I take out that link or get shut down too.

Bad Mojo

Im sure at this point youre getting a pretty good picture of the landscape of the future internet if the entertainment industry and their friends in government get their way.

So think about it: what would happen to platforms like Twitter and Facebook and Youtube if we no longer had the ability to share with one another? If we all lived in fear that our links or funny pictures or clever videos could get us or the site we were socializing on taken offline, how would we interact online at all?

What if every writer and blogger and artist and humorist on the internet could no longer share with or link to one another for fear of censorship at the hands of the entertainment industry itself? What little trust exists between us would evaporate.

This is bad legislation written behind closed doors by an industry that is already highly profitable. There is no clear and present danger to the video game industry which is growing faster than ever.

The music industry has shifted enormously in the past decade, but its still growing and more artists than ever are sharing in the wealth. And the film industry has new legs thanks to HD technology, internet streaming services, and 3D.

SOPA and PIPA are the wrong bills to protect IP from pirates and teenage kids who cant afford the media they want to consume. Its an overreaction that would break the internet and pit everyone against everyone.

The days of online innovation and social media would come to an end as the sheer weight of the law and the threat of censorship would grind everything to a halt. Hackers might fight back, but the vast majority of people would simply be left two decades in the past.

The ESA should work to back legislation that would help protect their IP without shutting down the very thing that their most loyal fans value most. The gaming industry was a $67 billion dollar industry in 2010. Its expected to exceed $112 billion by 2015.

Piracy can and does effect some of these companies and new ways to combat piracy are constantly being developed. But its obvious that games are going nowhere fast. IP pirates arent about to sink gaming even if they do cause headaches and make the cost of games higher for the rest of us.

We need to take the threat of piracy seriously but we need to take the threat of government and corporate censorship more seriously. There are other choices for the ESA and other supporters of these laws to get behind, like the OPEN Act – a flawed but reasonable piece of legislation which achieves many important victories over piracy without the use of censorship.

In the end, I truly believe that these laws will hurt, rather than help, even the industries backing and supposedly benefiting from SOPA/PIPA.

So call your congress-critter or your video game developer and ask them to support better legislation.

Follow me on Twitter and  Facebook or Google+. Read my Forbes blog here.

Lionsgate Grabs ‘Lalaloopsy’ Home Entertainment Rights 2012/01/11 at 8:46 pm

The Canadian company will distribute the popular toy doll line in the US, Canada, Britain and elsewhere internationally, via a deal with MGA Entertainment.