The U.S. Securities and Exchange Commission in the past two months sent letters of inquiry to at least five major movie studios seeking information on their business with China, Reuters reported Tuesday, citing a person familiar with the matter.
The studios include News Corp.'s (NWS) 20th Century Fox, Walt Disney Co. (>> The Walt Disney Company), and DreamWorks Animation SKG Inc. (>> DreamWorks Animation SKG, Inc.), and the requests were for information on potentially inappropriate payments and how the companies dealt with certain government officials in China, the person told Reuters.
Representatives of DreamWorks and Disney declined to comment to Reuters. News Corp. was unavailable for immediate comment, according to Dow Jones Newswires.
News Corp. owns Dow Jones & Co., publisher of this newswire.
Full story at http://www.reuters.com/article/2012/04/24/us-sec-movies-idUSBRE83N15V20120424
-Dow Jones Newswires; 212-416-2900