July 16, 2006 11:35 AM
Anticipating what could be double-digit growth in the next five years, a number of U.S. companies and producers have their eyes on the Russian film industry. According to a New York Times piece by Laura M. Holson and Steven Lee Myers:
Russia's movie industry, following a torpid decade that mirrored the country's social, political and economic turbulence after the Soviet Union's collapse in 1991, is in the midst of a creative renaissance and box-office boom. And Hollywood -- whose producers, distributors and exhibitors rarely pass up a chance to exploit an opportunity -- is spending millions on theaters, distributors and movies themselves.