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Entertainment

May 14, 1993|From Times Staff and Wire Reports

Showscan and Omni Films to Merge: Two of the small group of entertainment technology companies catering to the growing market for high-tech ride simulators and futuristic theaters announced plans to combine their operations. The merger will match Culver City-based Showscan Corp.'s patented high-resolution film process with the hydraulic seating platforms manufactured by Sarasota-based Omni Films International, in what the companies say will allow them to improve their profitability and dominate the nascent industry. Under the agreement, shareholders of Showscan and Omni Films will receive shares of the combined company on a one-for-one basis for each share of Showscan and/or Omni Films. The company will be traded on the NASDAQ market.

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