- State-owned distributor China Film Group has agreed to restart payments owed to U.S. film companies after the two sides resolved a dispute over whether a new value-added tax should be taken out of the studios' share of box-office receipts. The latter had argued that the roughly 2% tax wasn't their responsibility.
- The amount owed could reportedly top $200M. Companies that are or could be affected include Time Warner (TWX), Sony (SNE), Lions Gate (LGF), Fox (FOXA), Viacom (VIA), Comcast (CMCSA), and Dreamworks Animation (DWA).
at Zacks.com (Nov 17, 2014)