A degree of financial fizz has returned to Hollywood, but the industry is showing uncharacteristic restraint in its celebration.

On Aug. 17, Steven Spielberg secured $325 million in additional movie financing. Two weeks later, the Walt Disney Company plunked down $4 billion for Marvel Entertainment. Universal is refinancing $1 billion in theme park debt. Now $525 million in financing to equip thousands of movie theaters with 3-D equipment is finally moving forward.

“Is this a loosening of capital markets, especially where entertainment is involved?” asked Jeffrey Katzenberg, chief executive of DreamWorks Animation and a 3-D proponent. “The answer to that is yes.” Even so, Katzenberg and other industry veterans say Rockette kicks about a broader show-business recovery are premature.

& #8226;

Read the full

New York Times

story.