After the payroll tax cut, the hottest issue animating Washington these days is online piracy. Legislation to curb overseas Internet sites that purvey pirated copies of movies, television shows and other creative content is steadily advancing.
Australia’s film industry needs tax rebates to remain competitive as the nation’s remoteness and strong currency discourage big budget foreign productions, said Baz Luhrmann, director of “The Great Gatsby.”
California’s $100 million annual tax subsidy for the film and TV industry doesn’t pay for itself, and expanding it may not stem job losses to other regions, the state’s non-partisan fiscal analyst said.
Fosun International Ltd., controlled by Chinese billionaire Guo Guangchang, said it is investing in a filmmaker founded by the former president of Warner Bros Pictures Inc. to tap into growing demand in China.