MPAA Chief Chris Dodd Congratulates Obama on Re-Election

10:46 PM PST 11/6/2012 by Kimberly Nordyke

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Scott J. Ferrell/Congressional Quarterly/Newscom

The president "has demonstrated a great understanding of the importance of intellectual property to the fundamental strength of the American economy," he says.

MPAA chief Chris Dodd issued a note of congratulations to President Obama on Tuesday night after the commander-in-chief was re-elected.

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Dodd, a former Democratic senator who now oversees the film industry's lobbying organization, praised Obama in a statement.

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"I congratulate Barack Obama on his victory tonight," he said. "President Obama has demonstrated a great understanding of the importance of intellectual property to the fundamental strength of the American economy. In an era of partisan discord, there is bipartisan agreement that protecting American creativity and innovation is critical to our competitive edge in the global marketplace. I look forward to continuing to work closely with the Obama Administration to ensure the creative industries have every opportunity to thrive."

Obama defeated Republican candidate Mitt Romney to win another four years in the White House.

NBC News called the election at around 8:15 p.m. PT.