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_root.createTextField("newField",1,100,100,300,300);

with (newField){
       
        background = true;
        backgroundColor=0×8888FF;
        border = true;
        borderColor = 0×000000;
        autoSize = "left";
        wordWrap = true;
        text = currentField.text
       
}

/* From Macromedia’s livedocs:

The default properties of a text field are as follows:

type = "dynamic"
border = false
background = false
password = false
multiline = false
html = false
embedFonts = false
variable = null
maxChars = null

A text field created with createTextField() receives the following default TextFormat object:

font = "Times New Roman"
size = 12
textColor = 0×000000
bold = false
italic = false
underline = false
url = ""
target = ""
align = "left"
leftMargin = 0
rightMargin = 0
indent = 0
leading = 0
bullet = false
tabStops = [] (Empty Array)

*/

newFormat = new TextFormat();

with(newFormat){
       
        color = 0×000000;
        font = "Verdana";
        bold = true;
        size = 10;
       
}

newField.setTextFormat(newFormat);

currentField.onChanged = function(){
       
        _root.newField.setNewTextFormat(_root.newFormat);
        _root.newField.text = this.text;
       
}