Lorimar-Telepictures an entertainment company best-known for producing such prime time favorites as "Dallas" and "Falcon Crest," said Friday that it lost $19.2 million in its third quarter due largely to problems at its beleaguered home video division.
Excluding the home video loss, it would have earned about $10.7 million from its other two main operations--television and film--in the third quarter ended Dec. 31.
The Culver City-based company is investigating its home video division and last year replaced the division's three principal officers, including former president Stuart Karl. It also sued them for allegedly breaching their fiduciary duties while operating the Karl-Lorimar Home Video division.
The company set aside about $22 million in the third fiscal quarter for the home video division, aimed at covering uncollectable receivables and writing down inventory.