4 Top Stories Moving the Dow on January 3
The Walt Disney Company (NYSE:DIS): Closing price $51.52
Walt Disney Studios Motion Picture Production requested that a federal judge disallow a bankruptcy court decision that would permit the sale of patents linked to 3-D movies. In its appeal in United States District Court in Wilmington, Delaware, the company said that its rights to use the tech to convert traditional films into three-dimensional movies will be impacted. The dispute involves the shell company that is left in bankruptcy by the collapse of Digital Domain Media Group, which supplies special effects for the movies Transformers and Titanic. That shell, called DDMG Estate, held an auction for the patents in December. However, Disney claims right to use the tech due to agreements it reached with the original patent holder which are related to movies including Alice in Wonderland.