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International News: Co. predicts sales drop of 14% -- Sony Corp. has warned that it will deliver larger than expected losses approaching $3 billion for the current year to March.

Film Festivals: 'Human Zoo' to kick off festival Feb. 5 -- The Berlin Film festival unveiled the complete selection for Panorama, its international arthouse sidebar Wednesday.

Chelsea FC owner Roman Abramovich is suing the Sunday Times over its front page article that claimed the Russian oligarch wants to sell the London football club.Abramovich and the football club are suing for libel and filed a claim on Monday in the Queen's Bench division of the high court in London. The claim was filed by solicitor Gerrard Tyrell of the law firm Harbottle & Lewis.The Sunday Times article, written by business editor John Waples, alleged that the Chelsea boss had 'taken soundings' about selling the premiership club to Gulf Arabs, including members of the Saudi royal family.Abramovich is seeking an injunction to prevent the Sunday Times and its parent company, Times Newspapers, part of News International, from repeating the claim.The club confirmed on its official website that legal action had commenced.. To contact the MediaGuardian news desk email editor@mediaguardian.co.uk or phone 020 3353 3857. For all other inquiries please call the main Guardian switchboard on 020

International News: Exec to head local home entertainment unit -- Universal Pictures has appointed David Moscato managing director of its Italian homevid unit, Universal Pictures Italy, in a move further underscoring Italy's importance for the Hollywood studio.

International News: Russian indie says foreign pics too expensive -- Russian indie distributor Pyramid has been forced to suspend operations due to tough market conditions, the Moscow-based company said Wednesday.

South Korean kimchi western 'The Good, the Bad, the Weird' has drawn the most nominations -- eight -- for the 3rd Asian Film Awards, an event organizers at the Hong Kong International Film Festival Society hope will grow to become the Oscars of Asia.

International News: Co. also plans to increase TV productions -- After a yearlong buying spree, Canuck film and TV company Entertainment One is consolidating all its operations in Canada, the U.K., Holland and Belgium under its new name, E1 Entertainment, to become one of the world's leading independent film buyers.

International News: Exec was formerly at Aardman, Fox -- Disney has finally appointed a successor to its high-profile European TV distrib topper Tom Toumazis, who quit last November to join Endemol.