MORNING ROUNDUP: Watch the Latest 'Harry Potter' Teaser Clip
Plus: Private equity firm Providence Equity Partners is set to lose $400 million once MGM files for bankruptcy, the longtime "Wheel of Fortune" announcer dies, Citigroup and Terra Firma continue their legal battle and other morning news.
Another behind-the-scenes clip from Harry Potter and the Deathly Hallows, which is due in theaters in two parts - Nov. 19, 2010 and July 15, 2011 - has hit the web. "The stakes are a lot higher in this film than they probably ever were before," says star Daniel Radcliffe. Adds director David Yates forebodingly, "Voldemort is on the cusp of absolute power." Watch below.
- Private equity firm Providence Equity Partners, the biggest buyout firm with a media and entertainment focus, is one of the big losers of the upcoming MGM bankruptcy filing, the New York Post highlighted. As the biggest private equity investor in the studio, Providence stands to lose some $400 million once the filing, which will cut out $4 billion in debt and in the process wipe out current equity investors, becomes official, the paper said.
- Late Monday, a judge ruled that private equity firm Terra Firma and its founder Guy Hands can't pursue punitive damages against Citigroup in a legal showdown over the former's acquisition of music firm EMI Group in 2007, the Wall Street Journal reported. Hands has claimed he was misled by a top Citigroup investment banker in the EMI sales process, causing him to overpay. Punitive damages could have come on top of any potential damages for fraud.
- Longtime Wheel of Fortune announcer Charlie O'Donnell died overnight in his Sherman Oaks, Calif. home on Halloween, his agent confirms. He was 78. O'Donnell, who spent 26 years on the show, suffered heart failure, according to his friend, radio personality Johnny Hayes.