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physical elements associated with the 65 film titles are
available, and (b) alternatively, that physical elements for only
some of the film titles are available. In estimating the fair
market value of the EBD film titles, Mr. Wagner relied upon the
income approach. Because of the market limitations associated
with B film titles, Mr. Wagner forecast income only for VHS
(Video Home System) sales into the rental market.
i. Income Projections
Mr. Wagner projected the number of gross units shipped per
film title on the basis of information obtained from Adams Media
Research (AMR), a media and entertainment data research firm.128
Mr. Wagner isolated the AMR data for 270 film titles that he
found to be comparable to the EBD film titles.129 Using
“STARmeter” ratings found on the “Internet Movie Database
(‘IMDb’),” Mr. Wagner then separated the 270 film titles into two
groups: (i) titles with more well-known actors; and (ii) titles
with lesser-known actors.130 He further categorized the 270 film
128 AMR provided information for film titles that were
released direct-to-video by independent distributors for the
period 1994 through Sept. 30, 1996.
129 Mr. Wagner assumed that the EBD film titles would be
comparable to film titles that were released direct-to-video by
independent studios.
130 According to IMDb, its STARmeter rankings provide a
snapshot of an actor’s popularity based on input from IMDb users;
the ratings are based on several statistical indicators,
including the frequency and number of people who access a
(continued...)
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