June 1, 1990 |
A unit of Pioneer Electronic Corp. bought a 10% interest in Carolco Pictures Inc., a leading independent producer of motion pictures, in a $60-million deal announced Thursday. The purchase gives the Japanese, who already own Columbia Pictures Entertainment, an even greater toehold in Hollywood. At the same time, Carolco will get a major infusion of capital. The deal calls for Pioneer LDCA Inc.
July 10, 1992 |
For struggling Carolco Pictures, this may be Judgment Weekend. The once highflying company that made the hit "Terminator 2: Judgment Day" is scrambling to avert bankruptcy and hoping that its latest violence-steeped fantasy, opening in theaters today, will help save it. "My own opinion is that if (the new film, "Universal Soldier") doesn't open enormously this weekend, the equity investors will say, 'Enough of this,' " said one industry observer, expressing a widely held view.
March 31, 1992 |
Live Entertainment Inc. has won another eight months of breathing room from a bank group that agreed to extend Live's $50-million line of credit through Dec. 2. The announcement last week by the troubled Van Nuys video distributor and retailer was part of a refinancing package involving Live's 53% owner, Carolco Pictures Inc. Carolco has entered a new financing deal with its bank lenders and foreign investors that will provide the debt-burdened film producer up to $73.
December 25, 1992 |
One of film legend Charlie Chaplin's best-known movies is "The Gold Rush." For Carolco Pictures, whose epic film biography of Chaplin opens today, business lately has been anything but a gold rush. In fact, until this week there was little gold left.
February 13, 1992 |
Financially strapped Carolco Pictures, under continuing pressure from its bankers and foreign shareholders to restructure, is selling Spelling Entertainment certain TV rights to its film library in a deal valued at $64 million. The agreement Wednesday gives the once-highflying production company--maker of such costly action/adventure films as "Terminator 2: Judgment Day" and the "Rambo" trilogy--some badly needed cash.
January 21, 1992 |
Could Live live without Carolco? Analysts say yes, although the future of Live Entertainment Inc., a Van Nuys videocassette distributor and retailer, is by no means assured. With or without Carolco Pictures Inc., Live's financially troubled 53% owner and its biggest supplier of films to release on video, Live is likely to end up a much smaller company, analysts say. "Live has a life of its own apart from Carolco," said analyst Jeffrey Logsdon at Seidler Amdec Securities Inc. in Los Angeles.