July 20, 1993 |
AME Inc. in Burbank, once Hollywood's biggest video post-production firm, has been sold for $18.2 million, effectively ending a year in bankruptcy reorganization. The top bid came from a group led by Larry Kingen, a former AME president who started a rival company in Burbank called All Post Inc. Kingen was backed by Westar Capital, a Costa Mesa investment firm that put up most of the money for the purchase last week at a hearing in U. S. Bankruptcy Court in Los Angeles.
June 15, 1993
A New York venture-capital firm, Steinhardt Partners, has emerged as the high bidder for Burbank-based AME Inc., offering about $12 million for the video post-production company that is operating under the protection of bankruptcy court, according to published reports. John Hyde, AME's court-appointed trustee, said Monday that other bids topping the $12-million offer are still possible. An investor group paid $108.5 million to take AME private in 1989, mostly with leveraged or borrowed funds.
May 4, 1993
AME Inc. in Burbank has a potential buyer, which would enable the video post-production firm to emerge from Chapter 11 bankruptcy protection. Image Technology Acquisition Corp. has offered $12 million for AME, according to John W. Hyde, AME's bankruptcy trustee. Hyde has recommended that the court approve the offer, which was made in a filing at federal Bankruptcy Court in Los Angeles last week.
February 9, 1993 |
John W. Hyde isn't a name you'll find on movie marquees. But without him, some Hollywood studios and distributors might now be absent from your local theater too. Hyde, a modestly successful movie and television producer since the 1960s, is becoming the industry's best-known financial doctor for studios, distribution firms, video post-production houses and other film-related concerns that have sunk into bankruptcy court.
July 28, 1992 |
AME Inc. still hopes to find a buyer even though the video post-production concern is now reorganizing under the auspices of the U.S. Bankruptcy Court. The Burbank-based company, struggling under a heavy debt load, last week sought protection from its creditors by filing under Chapter 11 of the bankruptcy laws. Under Chapter 11, a company keeps operating while it works out a plan to pay its bills. AME has been struggling since 1989, when an investor group bought the company for $108.
July 23, 1992 |
AME Seeks Bankruptcy Protection: AME Inc., a leading provider of video post-production services for Hollywood studios, filed for Chapter 11 bankruptcy protection. The Burbank-based company has been hobbled by debt since 1989, when an investor group bought it for $108.5 million in a leveraged buyout. In its filing in U.S. Bankruptcy Court in Los Angeles, AME listed assets of $41 million and debts of $124 million. The filing came after AME failed to find someone to buy it.