We already know that iMovie '11 is going to be YouTube's next big (annoying) meme, but Apple's protecting its chums at movie studios such as Universal and Paramount, by banning any chance of parody. Bummer.
TUAW's tipsters spent time fooling around with iMovie '11 and discovered that the video-editing program won't allow you to put famous studio names in the appropriate title fields. When choosing the theme with the globe at the start, for example, you aren't allowed to write "Universal Studios", which uses the globe in its own openers. Choosing to write "Paramount Studios" on the theme with the mountain and stars doesn't work, either, with hyphens showing up on the title scene in place of the studio name.