plans to create a Russian subsidiary to produce animated films in Moscow, Russian newspaper Kommersant reported Friday. The new division will supervise all Disney projects in the country, the newspaper reported, citing Paul Zonderland, Buena Vista International's managing director for Italy and Russia. Zonderland will make a trip to Russia in April to meet with potential investing partners for animated and feature films.
Disney's decision was influenced by the success of "Prince Vladimir," a Russian animated film that took in $2 million in its opening weekend last month, more than DreamWorks Animation SKG Inc.'s "Shrek-2" earned in its first weekend in Russian theaters. Box office receipts from Russian films accounted for 30 percent of the over $346 million paid by the cinema-goers in the country last year, Kommersant said.
& #8226; Superior Industries International Inc. reported a fourth-quarter net loss of $19.1 million (72 cents per share), compared with income of $11.9 million (45 cents) for the same period a year earlier. Revenue for the Van Nuys-based motor vehicle parts maker fell 6.7 percent to $218.9 million from $234.5 million in the year-prior period.
A write-down of assets in the company's suspension components and wheel businesses resulted in a fourth-quarter pre-tax charge of $45.7 million ($1.03 per share). Superior's suspension components business is currently being offered for sale.
& #8226; Primedex Health Systems Inc. completed the issuance of a $161 million senior secured credit facility which it used to refinance nearly all of its existing debt, except for $16.1 million of outstanding subordinated debentures and approximately $5 million of capital lease obligations. The facility provides for a $15 million five-year revolving credit facility, an $86 million term loan due in five years and a $60 million second lien term loan due in six years, the L.A.-based diagnostic imaging facilities operator said in a statement. General Electric Capital Corp. was lead arranger and will be administrative agent for the facility.
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