Twentieth Century Fox Film Corporation is an American film studio, distributor and one of the six major American film studios. Located in the Century City area of Los Angeles, just west of Beverly Hills, the studio used to be a subsidiary of News Corporation, but is now a subsidiary of 21st Century Fox. 20th Century Fox has distributed famous film series, including Avatar, the first two Star Wars trilogies, Ice Age, Power Rangers, X-Men, Die Hard, Planet of the Apes, Night at the Museum, Taken, Fantastic Four, Alien, Predator, Alvin and the Chipmunks. 20th Century Fox is a member of the Motion Picture Association of America (MPAA) . Its parent company 21st Century Fox was formed by the splitting of entertainment and media properties from News Corporation. The new company’s assets include Twentieth Century Fox Film, Twentieth Century Fox Television, Fox, FX, Fox News Channel, Fox Sports Network, National Geographic Channels, STAR, Fox Pan American Sports and Shine Group, as well as Sky Deutschland, Sky Italia and an equity interests in BSkyB and Tata Sky. These media and entertainment companies generated 75 percent of the old News Corp.’s revenue and nearly all its profits. Forbes magazine ranked the company as the world’s 48 most valuable brand, with a value of $10.7 Billion. The Industry The U.S. film industry posted $31 billion in revenues in 2013, a modest increase over 2012. The industry consists of multinational umbrella corporations, major studios, and independent studios or “indies.” Many of the leading motion picture studios are part of larger media conglomerates that often include television, newspaper, cable and magazine segments, and much of this is online content. The industry enjoys high popularity in foreign markets, but also high rates of illegal download. U.S. exports of film and entertainment media often attain shares in international markets in excess of 90 percent due to high global interest in U.S. film