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Markets Affect Hollywood Industry Etc Etc

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msn article today

for the lazy...

"It isn’t just the City feeling the effects of the tougher conditions in the world’s credit markets. Cinemas, supermarkets and even horse racing are now facing a lack of funding.

Funding for the filming of The Hobbit and the fourth instalment in the Terminator series are in jeopardy because of the weakness sweeping financial markets.

Wall Street heavyweight Goldman Sachs and Germany’s Deutsche Bank have shied away from underwriting $1 billion in film funding for Metro Goldwyn Mayer, which would also have helped pay for the next James Bond film as a co-production with Sony Corp.

Though production was not expected to start soon on any of these films, the withdrawal shines a spotlight on the way in which credit market nervousness, which began with badly-judged loans to cash-strapped US home buyers, is now reaching into surprising new areas. "

article goes on about impact in other industries etc etc

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