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Non-L.A. Firms Breaking Into Entertainment Law
When Summit Entertainment LLC needed an attorney to help promote its new vampire movie, "The Twilight Saga: New Moon," General Counsel David Friedman turned to someone he knew well: an old colleague from his former job at Paramount Pictures.Star Turn for Hollywood Newcomers
A few players are catching their big break in entertainment law, but for most, there's still no business in show business.Star Turn for Some Hollywood Newcomers
When Summit Entertainment needed an attorney to help promote its new vampire movie, "The Twilight Saga: New Moon," general counsel David Friedman turned to an old colleague from his former Paramount Pictures job. That lawyer, Nancy Derwin-Weiss, had moved to Wildman, Harrold, Allen & Dixon and helped it break through the barriers that have frustrated more than one East Coast firm's ambition to go Hollywood. And at least three other firms from outside California are using similar tactics to get into entertainment law.FCC's Rules Against Cross-Ownership Haunt Media Companies
The Federal Communications Commission's rules against cross-ownership are the thorn in the side of Tribune Co. and its efforts to find a buyer. Banned in 1975, cross-ownership has been bounced between courts and regulators in recent years and is up for review by the FCC. Grandfather clauses and waivers are causing controversy for cross-owning stations, such as Tribune, and upcoming elections could create shifting sands for concerned media companies.Class action litigation is beginning to take shape over allegations that major banks manipulated Libor, the benchmark rate used to calculate interest on trillions of dollars in securities globally. On Monday the federal district court judge hearing the litigation consolidated 20 class complaints, and appointed interim class counsel.
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