, the L.A.-based division of Thomson S.A., signed a long-term digital cinema equipment usage agreement withTwentieth Century Fox
in its effort to install digital cinema systems in 5,000 theaters across North America over the next two to three years. Under the terms of the agreement, Twentieth Century Fox will distribute its film content digitally throughout the U.S. and Canada, and pay a print fee for content played on screens equipped with Technicolor systems, beginning in the first quarter of next year.
Technicolor has already signed deals with several major studios, including DreamWorks SKG, Universal Pictures, and Warner Bros. Thomson, through its Technicolor business, will deploy at least 15,000 digitally equipped screens over the next 10 years.
- Gemstar-TV Guide International Inc. released its new TV Guide Mobile service, a television listings and content service designed for Palm handhelds, Treo smartphones, Windows Mobile pocket PCs and other wireless data-capable devices. Through a yearly or monthly subscription, consumers will have access to TV Guide listings, news, gossip and commentary on TVGuide.com, and the ability to search the Web site's "Big Movie Guide" database.
Gemstar developed the mobile system with Kansas, Mo.-based Handmark.
- Amgen Inc. 's board approved the repurchase of up to $5 billon in the company's stock. The Thousand Oaks-based company currently has $2 billion remaining under its previous stock repurchase program. This new authorization reflects Amgen's confidence in its long-term prospects, the company said in a statement. Amgen did not disclose when it will begin the repurchases.
- Learning Tree International Inc. said it will restate its annual financial statements for fiscal years 2001 to 2004, as well as all quarterly statements during fiscal 2004 and 2005, to correct its accounting for income taxes and leases.
The L.A.-based IT training course developer said it expects a reduction in net income of $700,000 to $1.1 million for its 2003 full-year results; "immaterial" reductions for 2001 and 2002; a reduction of between $600,000 and $1 million from its 2004 net income, which would lead to full-year results of between breakeven and a net loss of 2 cents per share; and a reduction of between $200,000 and $500,000 from net income for the first three quarters of 2005.
Learning Tree does not expect the restatements to affect reported revenues.
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