Biz Brief: 'The Karate Kid' Wins Battle of the 80s in the Theaters

In what was dubbed the battle of the 1980s, The Karate Kid beat The A-Team. Sony's (SNE) remake of the 1984 film, opened as the top-grossing movie in U.S. and Canadian theaters this weekend with ticket sales of $56 million. New Corp's (NWSA) Fox Film studio The A-Team, which is based on a 1980s television series, came in a distant second, grossing $26 million.

The Karate Kid features Jackie Chan as the Kung Fu instructor to an American boy -- portrayed by Jaden Smith, son of Will Smith -- who moves to China. The A-Team, stars Liam Neeson as Hannibal Smith, Bradley Cooper and Jessica Biel. Quinton "Rampage" Jackson plays B.A. Baracus, the role first played by Mr. T.

The fourth installment of Shrek, Shrek Forever After, from DreamWorks Animation (DWA) and Viacom's (VIA) Paramount Pictures, dropped to third place after three consecutive weekends on top with $15.8 million.