CINEMA: TRYING TO STAY AFLOAT

AFTER ENDLESS CRISES, DELAYS AND COST OVERRUNS, THE $200 MILLION TITANIC FINALLY OPENS THIS MONTH. WAS ALL THE MISERY WORTH IT?

Bill Mechanic wasn't having much of a honeymoon. When he was named chairman and CEO of Fox Filmed Entertainment a few months earlier, he had been thrust to the front line in the battle to gain control over the making of Titanic, the vastly ambitious epic conceived by director James Cameron. The movie was seriously behind schedule and wildly over budget. July 4, the planned release date, had come and gone. Yet as the weeks ticked by, the obsessive Cameron showed no sign of completing his editing. Titanic was going to be in dry dock right through summer--the best season for...

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