3 Media Stocks in Focus: Fox’s Logo is Challenged, Time Warner’s Expenditures, Movies Strong for IMAX
21st Century Fox (NASDAQ:FOXA): Fox is being sued by Exxon Mobil (NYSE:XOM), which claims that Fox’s FXX network logo violates its trademark rights that Exxon has held since 1971. Among the other charges for the allegedly similar logos being brought against Fox are a Lanham Act violation, dilution, unjust enrichment, and unfair competition. Naturally, Fox dismissed the claims as being “meritless.”
Time Warner (NYSE:TWX): Warner Bros. has spent an estimated $561 million on the Hobbit trilogy so far, making it one of the most expensive franchises to date and nearly doubling the amount spent on the Lord of the Rings trio of films. The first Hobbit movie brought in more than $1 billion, and the second is scheduled for release this December.
IMAX Corp. (NASDAQ:IMAX): IMAX shares have been selling off rapidly as analysts surmise that fans won’t be very excited about the 2014 film lineup, but bulls see upcoming fourth-quarter titles like Gravity, The Hobbit: The Desolation Of Smaug, and The Hunger Games: Catching Fire as significant catalysts for IMAX theaters.
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