Six major Hollywood studios have formed a joint venture to protect their movies from the threat of electronic theft. The BBCreports that Motion Picture Laboratories will research and create newtechnologies to stop the unauthorized distribution of films,particularly via the internet. The company, also named Movielabs, willhave offices in Los Angeles and a $30 million budget in its first twoyears. The studios pooling their resources are Walt Disney, Sony,Paramount, Warner Bros, Universal and 20th Century Fox. Read more.