The Oscar goes to ... No Country for Old Men. The story of a relentless killer chasing down his prey won best picture last night. The film's directors, Coen brothers Joel and Ethan, also shared the directing and adapted screenplay awards.
Deal Stopper? Clear Channel's $1.2 billion sale of its television unit to Providence Equity Partners, a media-focused buyout firm, is in danger of collapsing after Wachovia, one of the three banks financing the deal, sued Providence, saying that the new agreement voided a previous commitment.
Waiting Game: The Army is waiting to find out whether one of its largest contractors in the Middle East will satisfy a $4.9 million judgment levied by a federal judge in Atlanta. The Kuwait & Gulf Link Transport Co. response could put at risk the company's $100 million a year in contracts for truck supplies with the U.S. military in Iraq.
Key Losses: Weil, Gotshal & Manges has long held a market dominance in the field of bankruptcy. But the practice has suffered through important partner losses, most recently in November, when its co-head, Martin Bienenstock, departed for Dewey & LeBoeuf.