Backing into the Future

After a rocky year, Hollywood looks ahead to the VCR

Hollywood was born schizophrenic. For 75 years it has been both a town and a state of mind, an industry and an art form. But today, more than at any other moment since the beginning of the TV era, it is of two, three, many minds about its present and future. It sees rising costs and falling attendance at the box office, while at home Americans watch more movies than ever. It finds the gap between world-wide hits and big-budget belly flops wider than a Whoopi Goldberg smile. As the industry awaits next week's announcement of the Oscar nominations, it has...

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