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A roundup of the latest high-tech news from The Associated Press and other sources:
Chief restructuring officer’s post at Nortel to be left vacant
NEW YORK — Nortel Networks’ chief restructuring officer is resigning, and the company will leave that post vacant, The Wall Street Journal reports.
Pavi Binning, who also is chief financial officer, will give up both positions effective Sunday, the paper reported. John Doolittle will replace him as CFO while continuing to lead the corporate group of the bankrupt telecom-equipment maker.
Binning will remain with the company for a short while to help complete announced business sales and assist in the transition of his duties.
Canadian court grants OK for more time in bankruptcy case
SAN FRANCISCO — Telecom equipment maker Nortel Networks Corp. says the Ontario Superior Court of Justice has extended a break in its court case to help it continue selling off and restructuring its operations, the AP reported.
The stay of court proceedings in Nortel’s bankruptcy case has been extended to July 22, the company said.
Ontario-based Nortel filed for creditor protection under Canada’s Companies’ Creditors Arrangement Act in January 2009, saying the economic crisis compounded its existing financial troubles and made a turnaround impossible.
The company has been selling its operations piece by piece for a year.
DreamWorks boss sees 3-D income offsetting losses in DVD market
LOS ANGELES — Extra revenue that 3-D movies are pulling in at the box office can more than make up for the money lost from falling sales of DVDs, according to the CEO of movie studio DreamWorks Animation SKG Inc.
Jeffrey Katzenberg, one of the biggest proponents of the big-screen format, said Wednesday that the 3-D revolution is reversing a decades-long trend that saw Hollywood studios become more reliant on home videos for their revenue and profit than on theatrical releases.
He spoke in an interview with the AP after he appeared at a National Association of Broadcasters conference in Las Vegas.
Katzenberg implored studios to keep up the quality of 3-D movies. He has criticized Warner Bros. for using what he called a "quick and cheap post-production process" in converting "Clash of the Titans" into 3-D after seeing the success of "Avatar."