Money Digest - August 7, 2006

Carmike has positive outlook

Carmike Cinemas, the No. 3 U.S. movie theater chain, said Friday that it saw positive trends in attendance and admissions during the second quarter, and preliminary estimates for its first quarter showed revenue of $111.9 million. The company also said it has filed its annual report for 2005 as well as amended reports for the second and third quarters of 2005, after it found it had improperly accounted for leases.



All signs are up for Live Nation

Live entertainment company Live Nation Inc. posted higher revenue and profit for the second quarter with net income reaching $9.7 million, compared with $970,000 a year ago. Proceeds from the sale of Live Nation's interest in a Planet Hollywood project in Las Vegas helped boost revenue from $741.7 million a year ago to $768.2 million. Digital distribution revenue increased 16%, while venues and sponsorship revenue rose 6%, and events revenue increased 3%. Live Nation is expanding its concert business via acquisitions.



PixFusion gets financing

New York-based PixFusion, a company that makes customizable branded video products and owns the kids brand Kideo.com, won a $4.2 million round of financing led by Mercury Capital Partners with Stonehenge Capital. PixFusion also sells its services to advertisers who want to create and send personalized video greeting cards, movie trailers or music videos to desktops, cell phones and other rich-media devices. The company said it will use the new funds to develop proprietary technology and expand its licensed character inventory. It holds "Dora the Explorer" and "Arthur" licenses.