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SOUTH KOREA FUNDS FILMS

South Korea is launching a film fund that it hopes will keep its local downturn a short-term affair. The Korean Film Council said that it will start a film fund worth 80 billion won ($56 million) by early 2009 in a bid to boost the number of films produced in the region.

PACKER exits

James Packer has all but severed ties with the Nine television network and publisher ACP Magazines, the pillars of the media empire that made his father, Kerry Packer, Australia's richest businessman for nearly 50 years. On Monday, Packer stepped down from the board of PBL Media — owner of Nine and ACP — while his media investment company, Consolidated Media Holdings, said it will not provide additional capital to the debt-laden firm.

CHRISTENSEN DENIED

A Los Angeles federal court judge Monday denied entertainment lawyer Terry Christensen's bid for a new trial. He claimed a juror was improperly removed during deliberations because he disagreed with fellow jurors. Christensen was found guilty in August of illegally wiretapping Kirk Kerkorian's ex-wife.
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