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CNN Live At Daybreak
Hasbro Sues 'Ghettopoly' Maker for Defensive Monopoly Knockoff
Aired October 22, 2003 - 06:47 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Will the man behind Ghettopoly need a get out of jail free card? He just might.
Carrie Lee is at the Nasdaq market site with our 'Business Buzz' this morning.
Tell us about this -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Yes, here is the latest twist on this story, Carol. Hasbro, which is of course the maker of the original Monopoly game, is filing a lawsuit against David Chang of St. Mary's, Pennsylvania. He is the manufacturer of Ghettopoly. Hasbro says Chang violated its trademark rights and copyrights to Monopoly and that it will not tolerate Chang's unlawful use of its intellectual property to sell the game.
Hasbro also says Chang has chosen to ignore our cease and desist demands and therefore, we are taking necessary legal action. So it will be interesting to see how this story turns out. Of course with some people thinking Ghettopoly may not be available for much longer may cause them to want the game even more. But still, this is the latest on the Ghettopoly saga.
Meanwhile, futures do look pretty weak this morning. Looks like we could see some selling at the 9:30 opening bell. A lot of stocks report -- a lot of companies reporting profits this morning. We've just heard from Time Warner, of course parent company of CNN. The company did beat the Street on the profit front for the recent quarter. Profits coming in at $541 million, up from $57 million a year ago. Sales came in right in line with the expectation at $10.3 billion.
Two points of concern, though, the company's debt level still stands at $24 billion. Also regarding America Online, of course the Internet unit, ad revenues fell 33 percent. Also, Carol, we lost 688,000 subscribers during the quarter.
COSTELLO: Ouch!
LEE: So it will be interesting to see how the stock does today. Yes.
COSTELLO: Yes, it will.
Carrie Lee, live from the Nasdaq market site, many thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Knockoff>
Aired October 22, 2003 - 06:47 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Will the man behind Ghettopoly need a get out of jail free card? He just might.
Carrie Lee is at the Nasdaq market site with our 'Business Buzz' this morning.
Tell us about this -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Yes, here is the latest twist on this story, Carol. Hasbro, which is of course the maker of the original Monopoly game, is filing a lawsuit against David Chang of St. Mary's, Pennsylvania. He is the manufacturer of Ghettopoly. Hasbro says Chang violated its trademark rights and copyrights to Monopoly and that it will not tolerate Chang's unlawful use of its intellectual property to sell the game.
Hasbro also says Chang has chosen to ignore our cease and desist demands and therefore, we are taking necessary legal action. So it will be interesting to see how this story turns out. Of course with some people thinking Ghettopoly may not be available for much longer may cause them to want the game even more. But still, this is the latest on the Ghettopoly saga.
Meanwhile, futures do look pretty weak this morning. Looks like we could see some selling at the 9:30 opening bell. A lot of stocks report -- a lot of companies reporting profits this morning. We've just heard from Time Warner, of course parent company of CNN. The company did beat the Street on the profit front for the recent quarter. Profits coming in at $541 million, up from $57 million a year ago. Sales came in right in line with the expectation at $10.3 billion.
Two points of concern, though, the company's debt level still stands at $24 billion. Also regarding America Online, of course the Internet unit, ad revenues fell 33 percent. Also, Carol, we lost 688,000 subscribers during the quarter.
COSTELLO: Ouch!
LEE: So it will be interesting to see how the stock does today. Yes.
COSTELLO: Yes, it will.
Carrie Lee, live from the Nasdaq market site, many thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Knockoff>
