News from the Market: Tension with Russian Buyers

According to Variety, Russian buyers are threatening to halt all business negotions if their demands to renegotiate deals struck before the financial crisis are not met.  The buyers are asking for up to 90% reductions on deals signed before the crisis.  Here in Cannes, Russian aquisition has ground nearly to a halt and the Russian distributers seem to be unyielding with their demands.   U.S. reactions to the situations are mixed and it is yet unclear what renegotiations will take place.