Dell closer to buyout as price talks narrow: source


NEW YORK (Reuters) - Dell Inc moved closer to a nearly $24 billion buyout deal, with price negotiations narrowing to $13.50 to $13.75 a share in what would be the biggest leveraged buyout since the financial crisis.


Talks between Dell, the world's No. 3 computer maker, and a consortium led by its founder and chief executive, Michael Dell, to take the company private were in the final stages on Monday, a person familiar with the matter said.


An outcome is expected soon, the person said, cautioning that no final agreement had been reached and negotiations could still break down.


Dell shares fell 2.6 percent to $13.27 in afternoon trading.


Microsoft Corp, which provides its Windows software for Dell computers and is also part of the investment consortium, is expected to invest around $2 billion in the deal, while private equity firm Silver Lake is expected to put in about $1 billion, the source said.


Michael Dell is expected to roll over his roughly 16 percent stake and put in some of his own money so he has control of the company, the source added.


Dell and Silver Lake declined to comment and Microsoft did not immediately respond to a request for a comment.


The $13.50 to $13.75 per share price range being negotiated translates into an equity valuation for Dell of between $23.5 billion to $23.9 billion.


The $13.75 per share is a premium of about 23 percent to the average of $11 per share Dell traded before news of the deal talks broke and is far below the $17.61 that the shares were trading a year ago."


Dell has steadily ceded market share in PCs to nimbler rivals such as Lenovo Group and is struggling to re-ignite growth. That's in spite of Michael Dell's efforts in the five years since he retook the helm of the company he founded in 1984, following a brief hiatus during which its fortunes waned rapidly.


Any deal that Michael Dell negotiates would need the approval of a majority of the shareholders. Deals that involve the considerable stake of a founder who is also the chief executive of the company are also likely to come in for extra scrutiny over whether the board exercised its fiduciary duty.


Dell has formed a special committee to take a close look at any potential deals on the table, multiple sources with knowledge of the matter told Reuters earlier.


(Reporting by Greg Roumeliotis in New York; Additional reporting by Poornima Gupta; editing by Carol Bishopric and Kenneth Barry)



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Indiana moves back into No. 1 in AP poll


For the fifth straight week there is a new No. 1 in The Associated Press' college basketball poll. This time it's Indiana.


The Hoosiers, the preseason No. 1 who held the top spot for the first five weeks of the regular season, moved up two spots Monday, following their weekend win over No. 1 Michigan and No. 2 Kansas' loss to Oklahoma State.


Duke started the current streak of new No. 1s and was followed by Louisville, Duke again, Michigan and Indiana. The last time there were five straight new No. 1s was the last five polls of 2008-09 when it was Connecticut, Pittsburgh, Connecticut again, North Carolina and Louisville.


The Hoosiers received 58 first-place votes from the 65-member national media panel while Florida, which jumped two spots to second, got the other seven.


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Fall Out Boy ends three-year break with new album, tour






LOS ANGELES (Reuters) – Fall Out Boy unveiled plans for a new album and world tour on Monday, three years after the pop punk band‘s four members announced a hiatus to pursue solo projects.


“This isn’t a reunion,” the band said on its website, “because we never broke up.”






The new album, “Save Rock and Roll,” will be available worldwide on May 6-7. A tour kicks off Monday night in Chicago.


A new song, “My Songs Know What You Did In the Dark (Light Em Up),” is available on iTunes.


“When we were kids the only thing that got us through most days was music,” the band’s website statement said. “We needed to plug back in and make some music that matters to us. The future of Fall Out Boy starts now.”


Fall Out Boy soared to fame in 2005 with the album “From Under the Cork Tree.” Hit songs like “Sugar, We’re Goin Down” and “Dance, Dance” mixed energetic guitars and angst-ridden lyrics. The group released two more albums in 2007 and 2008 but went on an indefinite hiatus in 2009.


The band’s members include bassist and lyricist Pete Wentz, vocalist and guitarist Patrick Stump, guitarist Joe Trohman and drummer Andy Hurley.


(Reporting By Nichola Groom; Editing by Bill Trott)


Music News Headlines – Yahoo! News





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Bullying study: It does get better for gay teens


CHICAGO (AP) — It really does get better for gay and bisexual teens when it comes to being bullied, although young gay men have it worse than their lesbian peers, according to the first long-term scientific evidence on how the problem changes over time.


The seven-year study involved more than 4,000 teens in England who were questioned yearly through 2010, until they were 19 and 20 years old. At the start, just over half of the 187 gay, lesbian and bisexual teens said they had been bullied; by 2010 that dropped to 9 percent of gay and bisexual boys and 6 percent of lesbian and bisexual girls.


The researchers said the same results likely would be found in the United States.


In both countries, a "sea change" in cultural acceptance of gays and growing intolerance for bullying occurred during the study years, which partly explains the results, said study co-author Ian Rivers, a psychologist and professor of human development at Brunel University in London.


That includes a government mandate in England that schools work to prevent bullying, and changes in the United States permitting same-sex marriage in several states.


In 2010, syndicated columnist Dan Savage launched the "It Gets Better" video project to encourage bullied gay teens. It was prompted by widely publicized suicides of young gays, and includes videos from politicians and celebrities.


"Bullying tends to decline with age regardless of sexual orientation and gender," and the study confirms that, said co-author Joseph Robinson, a researcher and assistant professor of educational psychology at the University of Illinois in Urbana-Champaign. "In absolute terms, this would suggest that yes, it gets better."


The study appears online Monday in the journal Pediatrics.


Eliza Byard, executive director of the Gay, Lesbian & Straight Education Network, said the results mirror surveys by her anti-bullying advocacy group that show bullying is more common in U.S. middle schools than in high schools.


But the researchers said their results show the situation is more nuanced for young gay men.


In the first years of the study, gay boys and girls were almost twice as likely to be bullied as their straight peers. By the last year, bullying dropped overall and was at about the same level for lesbians and straight girls. But the difference between men got worse by ages 19 and 20, with gay young men almost four times more likely than their straight peers to be bullied.


The mixed results for young gay men may reflect the fact that masculine tendencies in girls and women are more culturally acceptable than femininity in boys and men, Robinson said.


Savage, who was not involved in the study, agreed.


"A lot of the disgust that people feel when you bring up homosexuality ... centers around gay male sexuality," Savage said. "There's more of a comfort level" around gay women, he said.


Kendall Johnson, 21, a junior theater major at the University of Illinois, said he was bullied for being gay in high school, mostly when he brought boyfriends to school dances or football games.


"One year at prom, I had a guy tell us that we were disgusting and he didn't want to see us dancing anymore," Johnson said. A football player and the president of the drama club intervened on his behalf, he recalled.


Johnson hasn't been bullied in college, but he said that's partly because he hangs out with the theater crowd and avoids the fraternity scene. Still, he agreed, that it generally gets better for gays as they mature.


"As you grow older, you become more accepting of yourself," Johnson said.


___


Online:


Pediatrics: http://www.pediatrics.org


It Gets Better: http://www.itgetsbetter.org


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


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NFL: Beyonce not the cause of Super Bowl blackout


NEW YORK (AP) — Don't blame Beyonce for blowing the lights out at the Super Bowl.


NFL Commissioner Roger Goodell said Monday that the halftime show was not the cause of the power outage that darkened the Superdome for half an hour during Sunday's broadcast.


"There's no indication at all that this was caused by the halftime show. Absolutely not. I know that's been out there that this halftime show had something to do with it. That is not the case," Goodell said.


Beyonce was the halftime performer at Sunday night's game and used plenty of power to light up the stage. Some had joked that her electrifying performance was to blame for the outage.


But the halftime show was running on its own generator, said Goodell and Doug Thornton, a vice president of SMG, the company that manages the Superdome.


"It was not on our power grid at all," Thornton said, adding that the metered power consumption went down during halftime because the house lights were down.


Beyonce's 13-minute set included hits "Crazy in Love," ''Single Ladies (Put a Ring on It)" and a Destiny's Child reunion.


The energetic performance was sung live days after she admitted she sang to a pre-recorded track at President Barack Obama's inauguration. And it won applause from critics who called it a major improvement over Madonna, who sang to a backing track last year, and the Black Eyed Peas' much-criticized halftime show in 2011.


Afterward, Beyonce announced "The Mrs. Carter Show World Tour" will kick off April 15 in Belgrade, Serbia. The European leg of the tour will wrap up May 29 in Stockholm, Sweden.


The tour's North American stint starts June 28 in Los Angeles and ends Aug. 3 in Brooklyn, N.Y., at the Barclays Center.


It was also announced Monday that a second wave of the tour is planned for Latin America, Australia and Asia later this year.


___


Brett Martell contributed to this report from New Orleans.


___


Online:


http://www.beyonceonline.com/us/home


___


Follow Mesfin Fekadu on Twitter at http://twitter.com/MusicMesfin


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Gas takes biggest bite of income in 30 years









Fuel costs are taking a big bite out of household budgets, according to separate reports Monday from the Energy Department and from the Union of Concerned Scientists.


The Energy Department says U.S. households spent an average of $2,912 on gasoline, or almost 4% of their pretax income, the highest percentage in 30 years.


That's despite the fact that Americans consumed less fuel in 2012 for a variety of reasons, including more efficient driving habits and higher-mileage vehicles.





PHOTOS: Best car values for fuel economy


"The effect of the higher prices in 2011 and 2012 outweighed the effect of reduced consumption," the Energy Department said.


In fact, researchers at the University of Michigan said Monday that the average fuel economy for new vehicles sold in the U.S. reached a record 24.5 mpg in January -- up 0.4 mpg from a revised figure for December.


Meanwhile, the Union of Concerned Scientists reported that most Americans "are likely to spend almost as much on gasoline over the life of their vehicle as its original cost."


“You’re basically paying for a second car every 15 years. The only thing really benefiting from your oil use is oil companies' bottom line," said Joshua Goldman, the report’s author and a policy analyst for the advocacy group.


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Robbery suspects charged with threatening girls with baseball bat













Photo: Carlos Alvizo (left) and Elias Martinez


Photo: Carlos Alvizo (left) and Elias Martinez
(February 3, 2013)


























































Two Chicago men armed with a baseball bat are accused of trying to rob two 15-year-old girls during an attack  on Friday night that was foiled by two off duty police officers, police said.


Carlos Alvizo, 18, of the 5600 block of South Homan Avenue and Elias Martinez, 21, of the 2300 block of South Trumbull Avenue were both charged with two counts of attempted armed robbery of two 15-year-old girls that happened in the 3600 block South Hoyne Avenue in the city’s McKinley Park neighborhood, police said.


One of the suspects was wielding a baseball bat as they demanded “everything’’ from the girls, according to a police report.





One said: “Give me everything. I don’t want to whack you. Do you have any money? Do you have your cell phone? What do you have in your pocket?”’ according to the report.


Alvizo reached into a pocket of one of victims before but both men fled when they spotted two people – who happened to be off duty police officers from Chicago and Forest Park – who began running after them, the report said.


Both men jumped into a gray Dodge Neon but as Martinez turned on its ignition the officers were able to stop them before they drove away in the car, police said. 


The girls later identified them and they were arrested about 6:15 p.m.


rsobol@tribune.com


Twitter:@RosemarySobol1







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Hackers target Twitter, could affect 250,000 user accounts


SAN FRANCISCO (Reuters) - Anonymous hackers attacked Twitter this week and may have gained access to passwords and other information for as many as 250,000 user accounts, the microblog revealed late on Friday.


Twitter said in a blog post that the passwords were encrypted and that it had already reset them as a "precautionary measure," and that it was in the process of notifying affected users.


The blog post noted recent revelations of large-scale cyber attacks against the New York Times and the Wall Street Journal, but unlike the two news organizations, Twitter did not provide any detail on the origin or methodology of the attacks.


"This attack was not the work of amateurs, and we do not believe it was an isolated incident," Twitter said. "The attackers were extremely sophisticated, and we believe other companies and organizations have also been recently similarly attacked."


Privately held Twitter, which has 200 million active monthly users, said it was working with government and federal law enforcement officials to track down the attackers.


The company did not specifically link the attacks to China in the blog post, in contrast to the New York Times and the Wall Street Journal, which both said the hackers originated in China.


Twitter, the social network known for its 140-character messages, could not speculate on the origin of the attacks as its investigation was ongoing, said spokesman Jim Prosser.


"There is no evidence right now that would indicate that passwords were compromised," said Prosser.


The attack is not the first time that hackers have breached Twitter's systems and gained access to Twitter user information. Twitter signed a consent decree with the Federal Trade Commission in 2010, subjecting the company to 10 years of independent privacy reviews, for failing to safeguard users' personal information.


(Reporting by Alexei Oreskovic; Editing by Gary Hill and Lisa Shumaker)



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What comes now for NFL after tumultuous season?


NEW ORLEANS (AP) — The Super Bowl closes a tumultuous year for the NFL.


Suicides by former NFL players. Thousands of others filing concussion lawsuits. New studies linking football to brain disease. Still no testing for human growth hormone. The specter of other purported performance-enhancing products — deer-antler spray, anyone? — being peddled to players.


A pay-for-pain bounty scandal. A lockout of officials resolved only after a ludicrous game-ending call. Zero minority hires for 15 coach or general manager openings.


And yet the league is as popular as ever.


Advertisers paid nearly $4 million per 30-second television commercial for the right to reach the 100 million or so Americans expected to tune in to Sunday's Super Bowl between the AFC champion Baltimore Ravens and NFC champion San Francisco 49ers. Eleven of the 12 most-watched TV programs during the last 2½ years were NFL postseason games, according to the league.


Uncertain, though, is what the future holds for an NFL still coming to grips with the dangers of a brutal sport that makes it tremendously wealthy.


"The game has changed and keeps changing. ... It is such a violent game, and such a collision game, that careers are going to be kind of like not long at all. Because you take those licks — you've only got so many in your body, and at some point that's going to wear it out," said Ravens running backs coach Wilbert Montgomery, who played that position for the Philadelphia Eagles and Detroit Lions from 1977-85.


Montgomery said he got six concussions in one season alone, and others along the way, including one that knocked him out cold a few days before playing for the Eagles in the NFC title game at the end of the 1980 season.


"I know one thing: Back then, it didn't make any difference. They gave you smelling salts and then, after that, you went back in," Montgomery said. "I have headaches all the time. That's why I say my wife is always messing with me when I have outbursts, saying, 'You've been hit too many times upside the head.'"


Montgomery laughed for a moment. Then he rubbed his forehead and continued talking, mentioning former teammate and friend Andre Waters and opponent Dave Duerson. Both committed suicide; researchers studied their brain tissue and found signs of chronic traumatic encephalopathy, or CTE, a degenerative disease also found in boxers and often linked with repeated blows to the head. Former star linebacker Junior Seau, who shot himself in May, also was found to have CTE. Baltimore's starting center on Sunday, Matt Birk, has pledged to donate his brain for study when he dies.


"It's a serious thing," Montgomery said. "It's scary."


When the President of the United States refers to fans perhaps having a guilty conscience when watching a game and parents thinking twice before allowing a child to play — as Barack Obama did in a recent interview with The New Republic — it sends a strong signal about what confronts the NFL today.


"If I was worried about my health," 49ers quarterback Colin Kaepernick said, "I wouldn't be playing football."


So the league must figure out how to deal with "walking a fine line," as 49ers CEO Jed York described it: The two-sided task of making the game safer, which Commissioner Roger Goodell acknowledges is imperative, while not making it "too safe," thereby diminishing the popularity of an enterprise that is violent by its very nature.


"There's no question that that is a bit of a conundrum. But to me, we've got to place more weight on player safety," New York Giants co-owner John Mara said. "The rules changes that we've implemented over the past five or six years have not made the game any less exciting. If anything, the game is as exciting as ever, and I strongly believe that we can make additional improvements in the rules and we're not going to lose anything in terms of excitement on the field."


Ravens owner Steve Bisciotti is convinced the NFL will strike the proper balance.


"What did they do for boxing when they made them go from 6-ounce, to 8-ounce to 12-ounce gloves or whatever? Did it change boxing? Not really," Bisciotti said. "I believe that with every change, there will be a correction. ... And I believe that we as a league and the (players' union) will agree on things that don't take football out of football."


In a series of moves that began shortly after Goodell was grilled at a congressional hearing, the league has changed concussion return-to-play guidelines, adjusted rules for kickoffs — and floated the idea of eliminating them altogether — stepped up punishment of illegal hits, and stopped arguing against the players' wish for independent neurology specialists on the sidelines during games.


Even if there are some players who in one breath worry about whether their health is imperiled, and in the next say, "We're basically going to be playing two-hand touch in a while" — Baltimore nose tackle Terrence Cody's words this week — the head of their union points out that prudence and popularity do not have to be mutually exclusive.


"The reality of it is, 'football as we know it' has evolved over decades. ... Our job is to have an unqualified commitment to the health and safety of the people who play the game, and then to make those changes where we see necessary," NFL Players Association executive director DeMaurice Smith said.


"I don't think there is this thing of 'football as we know it.' What we have is football that has constantly developed," Smith said. "And even with all of the (recent) rule changes ... my guess is this Super Bowl will be the highest-rated of all time."


Indeed, while the concussion lawsuits mount — a U.S. District Court judge in Philadelphia will hear oral arguments in April on the NFL's effort to dismiss a group of cases — and questions arise about what insurers will charge the league moving forward, the money does keep rolling in. Revenues already topped $9 billion at the time of the last labor deal in 2011, and new TV contracts will only help increase it.


"At $10-to-$12 billion? It ain't going nowhere," said Warren Sapp, a retired defensive tackle elected Saturday to the Pro Football Hall of Fame and who now works for the NFL Network, another piece of the league's marketing machine. "We play a beautiful game. We hit each other. (Players) have to take care of each other better. Then it will be fine."


Meantime, the NFL continues to look for new ways to increase its cash flow.


During his state of the league address two days before the Super Bowl, Goodell did not rule out increasing the regular season from 16 to 18 games, and he reiterated the possibility of expanding the postseason, too. He announced that two 2013 games in London already are sold out, and there could be three in future seasons — down a path that, eventually, could lead to a franchise based in Britain.


"For you to be adding games to the season, are you looking out for player safety? Or are you trying to generate more player revenue?" 49ers receiver Randy Moss said. "If you're trying to look and protect the players, and keep it healthier and better every year, I don't think it's a good idea."


Several players in this year's Super Bowl were incredulous that the league would even consider more games. A handful voiced concern over a disconnect between players and owners.


The president of the NFLPA, former Ravens cornerback Domonique Foxworth, said he wonders how truthful Goodell and other NFL officials are being when they say — as they often do — that players' well-being is a priority.


"The league, their No. 1 focus — at least they say their No. 1 focus — is health and safety. And we say our No. 1 focus is health and safety. How come we have such a hard time moving the ball on some health and safety issues?" Foxworth said. "I believe health and safety is on their list of top five things, but it comes in well behind increasing the bottom line."


___


Follow Howard Fendrich on Twitter at http://twitter.com/HowardFendrich


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Affleck’s ‘Argo’ wins Directors Guild top honor






LOS ANGELES (AP) — Ben Affleck has won the top film honor from the Directors Guild of America for his CIA thriller “Argo,” further sealing its status as best-picture front-runner at the Academy Awards.


Saturday’s prize also normally would make Affleck a near shoo-in to win best-director at the Feb. 24 Oscars, since the Directors Guild recipient nearly always goes on to claim the same prize at Hollywood’s biggest night.






But Affleck surprisingly missed out on an Oscar directing nomination, along with several other key favorites, including fellow Directors Guild contenders Kathryn Bigelow for “Zero Dark Thirty” and Tom Hooper for “Les Miserables.”


Affleck’s Oscar snub has not hurt “Argo” and may even have earned it some favor among awards voters as an underdog favorite. “Argo” has dominated other awards since the Oscar nominations.


“I don’t think that this makes me a real director, but I think it means I’m on my way,” said Affleck, who won for just his third film behind the camera.


The Directors Guild honors continued Hollywood’s strange awards season, which could culminate with a big Oscar win for Affleck’s “Argo.” The guild’s prize for best director typically is a final blessing for the film that goes on to win best-picture and director at the Oscars.


Affleck can go only one-for-two at the Oscars, though. While “Argo” is up for best picture, the director’s branch of the Academy of Motion Picture Arts and Sciences overlooked him for a directing slot.


Backstage at the Directors Guild honors, Affleck said he had nothing but respect for the academy and that “you’re not entitled to anything.”


“I’m thrilled and honored that the academy nominated me as a producer of the movie,” Affleck said. “I know our movie, we’re a little bit underdog and a little bit the little engine that could, and you take me out of it maybe helps … it’s just about that picture. I feel like it’s OK, I’m really lucky, I’m in a good place.”


With 12 Oscar nominations, Steven Spielberg’s Civil War saga “Lincoln” initially looked like the Oscar favorite over such other potential favorites as “Argo,” ”Les Miserables” and “Zero Dark Thirty,” since films generally have little chance of winning best picture if they are not nominated for best director. Only three films have done it in 84 years, most recently 1989′s best-picture champ “Driving Miss Daisy,” which failed to earn a directing nomination for Bruce Beresford.


But Affleck’s “Argo,” in which he also stars as a CIA operative who hatches a bold plan to rescue six Americans during the hostage crisis in Iran, has swept up all the major awards since the Oscar nominations. “Argo” won best drama and director at the Golden Globes and top film honors from the Screen Actors Guild and the Producers Guild of America.


Many of the same film professionals who vote in guild awards also cast ballots for the Oscars, so all the wins for “Argo” are a strong sign that the film has the inside track for best picture.


Milos Forman, a two-time Directors Guild and Oscar winner for “One Flew Over the Cuckoo’s Nest” and “Amadeus,” received the group’s lifetime-achievement award. Guild President Taylor Hackford let the crowd in a toast to Forman, who was ill and unable to attend.


Malik Bendjelloul won the guild’s documentary award for “Searching for Sugar Man,” his study of the fate of critically acclaimed but obscure 1970s singer-songwriter Rodriquez. The film also is nominated for best documentary at the Oscars.


Jay Roach won the guild trophy for TV movies and miniseries for “Game Change,” his drama starring Julianne Moore as Sarah Palin in her 2008 vice-presidential run.


Roach said that he watched John McCain rush to choose Palin as his running-mate, potentially putting her second in line for the presidency.


“I said, ‘We gotta talk about this,’” Roach joked.


“Girls” star Lena Dunham earned the guild honor for TV comedy, while Rian Johnson won for drama series for “Breaking Bad.”


Dunham won for directing the pilot of “Girls,” which focuses on the lives of a group of women in their 20s.


“It is such an unbelievable honor to be in the company of the people in this room, who have made me want to do this with my life,” Dunham said.


Filmmaker Alejandro Gonzalez Inarritu (“Babel,” ”Amores Perros”) won for best commercial for a Procter and Gamble spot he directed.


Among other TV winners:


— Reality program: Brian Smith, “Master Chef.”


— Musical variety: Glenn Weiss, “The 66th Annual Tony Awards.”


— Daytime serial: Jill Mitwell, “One Life to Live.”


— Children’s program: Paul Hoen, “Let It Shine.”


Affleck’s win Saturday nicks the Directors Guild record as a strong forecast for the eventual directing recipient at the Oscars. Only six times in the 64-year history of the guild awards has the winner there failed to follow up with an Oscar. This will be the seventh, since Affleck is not up for the best-director Oscar.


Peer loyalty might play in Affleck’s favor at the Oscars. The acting branch in particular, the largest block of the academy’s 5,900 members, might really throw its weight behind “Argo” because of Affleck’s directing snub. Actors love it when one of their own moves into a successful directing career, and Affleck — who’s rarely earned raves for his dramatic chops — also delivers one of his best performances in “Argo.”


Affleck has had no traction in acting honors this season, and he’s joked that no one considered it a snub when he wasn’t nominated for best actor. So a best-picture vote for “Argo” might be viewed as making right his omission from the directing lineup and acknowledging what a double-threat talent he’s become in front of and behind the camera.


A best-picture prize also would send Affleck home with an Oscar. The award would go to the producers of “Argo”: George Clooney, Grant Heslov and Affleck.


But it’s not as though Affleck has never gotten his due at Hollywood awards before. He and Matt Damon jump-started their careers with 1997′s “Good Will Hunting,” for which they shared a screenplay Oscar.


___


AP Entertainment Writer Sandy Cohen contributed to this report.


Entertainment News Headlines – Yahoo! News





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