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Company Town | Deals

June 07, 1996|JAMES BATES

* Film: Ailing movie producer Cinergi Pictures Entertainment said Thursday that part or all of the company may be sold. The Santa Monica company said it hired financial advisor Jefferson Capital Group in Richmond, Va., to explore possibilities. Cinergi has been plagued by losses stemming from the poor box-office reception for such films as "Judge Dredd," "The Scarlet Letter" and "Nixon." Cinergi said Jefferson Capital will also help the company in its ongoing strategy review--which includes evaluating whether the company wants to keep making big-budget "event" movies. No timetable has been set for a decision. One of the principals in Jefferson Capital, R.T. O'Donnell, is a Cinergi director. Jefferson previously has advised entertainment companies such as Live Entertainment. Cinergi is headed by Chairman Andrew Vajna. As previously reported, Vajna is being investigated by a federal grand jury in Los Angeles related to personal tax issues.

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