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Though movie admissions cost about $12 in Japan, customers seem willing to pay that to stand in the aisles for American films. "To the Japanese, American movies are hip and trendy, and Japanese audiences would rather die than be unfashionable," says William Ireton, managing director of Warner Bros. Japan...
...hostile takeover attempt. In a face- to-face showdown with AT&T's board members in New York City, NCR management vowed to resist. But industry analysts generally believe that the big telecommunications firm will ultimately prevail, strengthening NCR in the long run. Says Maria Lewis of Shearson Lehman Bros.: "AT&T would make an ideal corporate parent." Still, the deal carries enormous financial risks for AT&T, which had tried to build a computer business from scratch, avoiding large acquisitions. "AT&T will triumph, but it may be a Pyrrhic victory," says John McCarthy, an analyst at Forrester Research...
...wonder that big money, much of it foreign, has moved into the wine country. Napa's Raymond Vineyard, Sonoma's Chateau St. Jean and Firestone (near Santa Barbara) -- all premium labels -- are owned in whole or part by Japanese interests. Beaulieu, Inglenook and Christian Bros. in Napa County are subsidiaries of the British conglomerate Grand Metropolitan. Most of the major French champagne producers, including Moet & Chandon, Mumm, Louis Roederer and Piper Heidsieck, have subsidiaries turning out California sparklers...
Other vintners are taking their cues from Italy. Iron Horse's Tancer and Dominic Martin of San Luis Obispo's Martin Bros. are among winemakers who have planted such Italian varietals as Nebbiolo and Sangiovese; Tancer intends to blend his Sangiovese with Cabernet or Merlot in new proprietary wines similar to ones being produced in Tuscany. There is a certain irony here. Investment banker William Hambrecht, who sells the Zinfandel grapes from his Sonoma ranch to Ridge Vineyards, notes that many of these newly fashionable varietals were first planted in California at the century's turn by Italian immigrants...
...seven major studios to be acquired by foreign companies: 20th Century Fox is owned by Rupert Murdoch's Australia-based News Corp., and MGM/UA was taken over earlier last month by Italian financier Giancarlo Parretti. That leaves only three major studios in American hands: Disney, Paramount and Warner Bros...