On the strength of its latest Lord of the Rings movie, Time Warner reversed a year-earlier loss to report net income of $US638 million ($827 million) during last year’s fourth quarter. [More]

Susan Ager, a Detroit Free Press columnist, asks: “Are we ready to give an Oscar for best picture to a film that’s a mythic tale plus special effects with no acting worth noting?” Her opinion is that smaller films have more actorly “heart” that Jackson’s movies. [More]

On the other hand, the Chicago Tribune lauds the quality of LOTR’s original material, claiming that it comes from an “impeccable literary [source].” [More]

The success of The Lord of the Rings: The Return of the King is being credited for boosting the fiscal condition of AMC Entertainment, the country’s second-largest movie chain. [More]

Time Warner may have been able to boast Wednesday that it had reversed a year-ago loss and had earned $638 million in the fourth quarter. [More]

Studios tally up the big winners and losers. Hollywood’s studios Wednesday began tallying winners and losers in the annual Oscar race, one day after nominations were announced for the U.S. film industry’s top awards. Financial winners were obvious, including such films as “Whale Rider” and “Monster” from Newmarket Films and “The Cooler” and “Girl with a Pearl Earring” from Lions Gate Entertainment Corp. [More]

From ctnow.com: Oprah turns 50, having a few million friends over. This Saturday, high-profile guests like Halle Berry, Julia Roberts and Maria Shriver will descend on the San Ysidro Ranch in Santa Barbara, Calif., where Oprah has rented rooms to accommodate invited guests. She’s also booked all the rooms at the Four Seasons Resort Santa Barbara, forcing “Lord of the Rings” stars Elijah Wood, Liv Tyler and Viggo Mortensen – who will be in town to promote “The Return of the King” at the Santa Barbara International Film Festival – to relocate to the Bacara Resort in Goleta, Calif.