Entertainment & Sports
Oct. 16, 2010
'Hollywood Accounting' Exposed
Thanks to several key court cases this year involving profit-participation deals, accounting maneuvers that usually are shrouded behind complex contracts have been thrust into the spotlight.
Daily Journal Staff Writer
One story behind the entertainment industry is so common it reads like a formulaic script.
An actor, writer, producer or small company signs a deal to make a movie or television show with one of the big studios, and share in the profits. When the production becomes a hit, the party looks to collect - only to be told by the studio that there are little or no profits after settling ...
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