May 21, 1993 |
Andrews Group Acquires 50% Stake in Genesis Entertainment: New York-based Andrews Group, acting through subsidiary Four Star International, has acquired a 50% stake in Agoura Hills-based Genesis Entertainment, the company that produces and distributes "The Whoopi Goldberg Show." The Andrews Group, controlled by investor Ronald O. Perelman, also owns stakes in Marvel Entertainment Group and New World Entertainment.
June 6, 1989
Andrews Group Inc. has completed a successful tender offer to acquire the stock of New World Entertainment for about $145 million . . . Newbury Park-based LIVE Entertainment said it has completed its previously reported acquisition of the BeckZack Corp., the owner and operator of the 81-store Strawberries record retailing chain centered in New England . . . Edmund H. Shea Jr. of Walnut, Calif., has boosted his stake in Monitek Technologies Inc., the Hayward, Calif.-based maker of industrial measuring instruments, to 8.9% from 6.4% . . . The Federal Reserve said the average yield for one-year T-bills, the most popular index for making changes in adjustable-rate mortgages, fell to 8.80% last week from last week's 8.86%.
May 2, 1989
Marvel Productions, the Van Nuys animation studio that has produced Spider-Man and Muppet Babies cartoons, plans to move its offices to West Los Angeles in May. Marvel's departure will mark the second time this year a major cartoon factory has left the San Fernando Valley, for years the home of a large part of the animation industry. Earlier this year, Filmation in Woodland Hills closed after its parent company, Westinghouse's Group W Productions, sold the studio to a European group headed by British businessman Michael W. Stevens and backed by the French cosmetics giant L'Oreal.
April 11, 1989 |
New York entrepreneur Ronald O. Perelman stole a march on the competition Monday with the surprise announcement of a definitive agreement to buy New World Entertainment for $145 million. Six weeks earlier, the Los Angeles-based television production company had signed a tentative deal to sell out to Hollywood newcomer Giancarlo Parretti for $138 million. Andrews Group, a publicly traded company controlled by Perelman, is buying New World. Andrews' chief executive, William C. Bevins Jr., said in an interview that the move is part of a plan to become "a meaningful player in the entertainment and media businesses."
May 3, 1988
Andrews Group, formerly Compact Video in Burbank, reported Monday that it had completed the previously announced sale of several subsidiaries. Corporate raider Ronald Perelman, who owns 41% of Andrews through his investment company MacAndrews & Forbes, has been selling the assets of the diversified video concern to raise cash and to turn Andrews into a shell company for a major acquisition. Perelman's office said the sales announced Monday brought in $43 million in cash and $4.