news digest


Cinemark files for IPO

Cinemark Holdings Inc., the third-largest U.S. movie exhibitor, said that it intends to earn $400 million from an initial public offering. The Plano, Texas-based company filed its registration statement Thursday with the U.S. Securities and Exchange Commission, declaring that the company intends to use the net proceeds from the offering to repay outstanding debt as well as for working capital and other general corporate purposes. Lehman Bros. will underwrite the proposed public offering. Cinemark intends to list its shares on the New York Stock Exchange under the trading symbol "CNK."

EA revenue up, but profit off 38%

Video game maker Electronic Arts Inc. reported a 38% drop in its fiscal third-quarter profit to $160 million Thursday because of higher expenses and charges. But revenue rose 1% to $1.3 billion, slightly exceeding Wall Street estimates. EA also boosted its fiscal full-year guidance.

Nielsen pacts with Arbitron

NEW YORK — The Nielsen Co. and Arbitron said Thursday that they have entered into a joint venture for its Project Apollo marketing research service. The companies said the joint venture will be for the development and testing of Project Apollo, a marketing information service developed by the companies to collect and analyze data from advertising exposure, recognition of brands and then tie both of those to purchasing. The Hollywood Reporter is a unit of Nielsen Co.'s Nielsen Business Media division.

NBC's 'Comic' still standing

NBC has picked up a fifth installment of the reality series "Last Comic Standing" to air in the summer. The new season, to be hosted by Bill Bellamy, will go international, searching for the best comedian in the English-speaking world. Auditions will be held in London, Montreal and Sydney as well as in Los Angeles, New York, Minneapolis, San Antonio and Tempe, Ariz.

HOB Concerts exec steps down

NASHVILLE — Alex Hodges said that he is leaving House of Blues Concerts, where he was executive vp, effective today. The company, which includes several amphitheaters, HOB clubs and a thriving concert- promotion business, was acquired last year by rival promoter Live Nation. Hodges said that once the Justice Department cleared the sale of HOB, "there was a transition period now that period is over, and my mission is basically complete."