'Karate Kid' opens at No. 1 with $56 million kick - The Associated Press

Sony's remake of 1984's "The Karate Kid" debuted at No. 1 for the weekend with a whopping $56 million, according to studio estimates Sunday. The big-screen adaptation of the 1980s TV series "The A-Team" came in at less than half that, the 20th Century Fox release opening in second place with $26 million.

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After three weekends at No. 1, DreamWorks Animation's "Shrek Forever After" slipped to No. 3 with $15.8 million. The animated hit raised its domestic haul to $210.1 million, becoming the fourth movie released this year to top $200 million.

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With a relatively modest production budget of $40 million, "The Karate Kid" far exceeded the studio's expectations. Early on, Sony executives would have been happy if the movie opened to half its $56 million debut weekend, said Rory Bruer, the studio's head of distribution.

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Full Story: 'Karate Kid' opens at No. 1 with $56 million kick - The Associated Press