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Economy takes its toll on Hollywood


November 13, 2008 Conventional wisdom dictates that Hollywood could always shrug off economic downturns because worried consumers spend more on entertainment when times are tough. Everywhere one looks, the entertainment business is in a world of hurt. "Every single source of capital has suffered a seismic shock that we haven't seen in our lifetimes," said Nigel Sinclair, co-principal of film producer Spitfire Pictures.

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