CANNES, France — Peter M. Hoffman, the former president and chief executive of Carolco Pictures Corp., has formed an entertainment company called CineVisions.
The company will seek out business opportunities in emerging entertainment markets such as India, Indonesia and Eastern Europe. As chairman of CineVisions, Hoffman also will work as a financial consultant to the industry. He said he may even independently produce low-budget movies.
CineVisions' backers include Canyons Partners Inc., an investment banking firm, and Manchester Group Ltd., global business consultants.
Manchester is headed by Roderick M. Hills, a former chairman of the Securities and Exchange Commission and the husband of U.S. Trade Representative Carla Anderson Hills.
In an interview on his boat docked on the French Riviera, Hoffman said unexploited entertainment markets such as India represent the best opportunity for American companies to raise sagging profits.