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Microsoft is expected to make an announcement next week about the deal it has struck with Hollywood to make a movie based on the “Halo” video-game series.
The company caused a stir in Hollywood with its demands of upfront money and creative control over the movie, according to news reports.
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Reuters said Microsoft first wanted $10 million and 15 percent of initial box-office sales but settled with Universal Pictures and Twentieth Century Fox on a deal for a $5 million upfront payment and 10 percent of the box office. The movie is expected to be released in 2007.
Microsoft said yesterday that it was interested in offering an online music-subscription service, sending shares of online music rivals lower.
Microsoft, which launched its MSN Music download service last year to rival Apple Computer’s iTunes, said that “offering a subscription service was an important step in helping people find and discover great music online.”
“We are actively investigating the subscription model, but we don’t have anything to share today,” Christine Andrews, lead product manager of Microsoft’s MSN Internet division, said.
Apple’s stock fell $1.84, or 4.9 percent, to $35.81. Shares in RealNetworks fell 19 cents, or 3.7 percent, to $5.01.
to leave company
Dendreon said yesterday that its chief financial officer, Martin Simonetti, is resigning to spend more time with his family and to pursue opportunities to lead another biotechnology company.
Simonetti joined Dendreon in 1999. He had been director of Amgen’s operations in Colorado and, before that, a financial officer and scientist at Genentech.
Dendreon said Simonetti will leave the company in the third quarter.
Kuwaiti firm claims
bill went unpaid
A Kuwaiti company is alleging that Boeing failed to pay it for helping to persuade Kuwait’s government to buy 16 of Boeing’s Apache Longbow combat helicopters for more than $900 million.
The Kuwaiti company, al-Khaldiya Electronics & Electrical Equipment, filed suit in U.S. District Court in St. Louis, seeking unspecified damages for what it says is Boeing’s violation of a 1995 contract between the companies.
Boeing denies it owes al-Khaldiya more money. “Boeing believes we have satisfied all of our obligations under the contract,” company spokesman James Keller said yesterday.
Compiled from Seattle Times business staff, the St. Louis Post -Dispatch and Reuters.