In an agreement with U.S. antitrust lawyers, Lorimar-Telepictures has promised to attempt to resell its Metrocolor film processing lab, according to papers filed in U.S. District Court here Tuesday.
Lorimar-Telepictures also pledged to keep the unit operating in the meantime. Metrocolor is one of Hollywood's three biggest labs making the 35- and 70-millimeter prints shown in U.S. movie theaters.
The agreement was aimed at assuring Justice Department attorneys that Metrocolor would remain a competitor in the field.
MacAndrews & Forbes Group, owners of Technicolor, the largest U.S. film processor, also is a party to the agreement to postpone an early court hearing in the Justice Department's new antitrust suit. The antitrust action last week halted the $72-million purchase of Metrocolor by a limited partnership, Processing Partners L-P, in which MacAndrews & Forbes is a limited partner.
Instead of a hearing this Friday on an injunction, lawyers for all the parties agreed to postpone it until Feb. 27.