COMPANY TOWN ANNEX

U.S. Studios Fire Back in Britain: United International Pictures, the joint distribution arm of Universal Pictures, Paramount Pictures and Metro-Goldwyn-Mayer, has released a study to blunt recent criticism that major U.S. studios suck too much money out of the British economy, pay too little in taxes and don’t contribute enough to the British film industry. The study by London Economics says critics have overstated film royalties sent to the United States by 300% and overstated UIP’s British theatrical revenue by 1,400%. The study says taxes on royalties are consistent with British law.