HOLLYWOOD SEEKS LEVEL EU MARKET
BRUSSELS, Belgium - 05/25/04 - Hollywood and the European Union may be close to ending a two-year dispute as several large motion picture studios reportedly want to settle long-standing EU complaints that the studios' contracts with pay television operators keep the price of films artificially high in Europe.
According to industry sources, the studios - long targeted by the European Commission - have indicated their willingness to "consider" dropping the contested clause in their contracts in return for the EU withdrawing its complaint.
Talks are ongoing, the sources said, and it was unclear when a deal might be reached or how many studios would eventually sign on.
European regulators specifically targeted several of Hollywood's largest studios including Universal Pictures, Sony Corp., The Walt Disney Co., and Time Warner Inc., accusing them of distorting the market by effectively setting minimum prices in pay-TV contracts across Europe.
The statement of objections has been held up by legal wrangling by the companies involving access to case files and protection of business secrets, but that was not expected to derail the EU's case, the sources said.
While not accusing the studios of forming an illegal cartel, the EU said it believes similar wording in almost all the contracts "has the effect of keeping prices high for Hollywood films - a crucial component of any pay-TV service."
Hollywood studios insist the clauses - which require the best terms offered to one party be offered to all - don't violate any international law and actually benefit both sides.
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