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Live Entertainment Inc

September 6, 1994
Live Entertainment Inc., a Van Nuys-based videocassette distributor, said it has completed the sale of its specialty retail division, which consists of a chain of 150 music stores on the East Coast, to a group headed by the division's former top executives. The purchasing group, Strawberries Inc., said it paid $35 million and assumed an undisclosed amount of debt.
Development hell is a place no writer or director in Hollywood wants to be. It is the movie business's equivalent of limbo, the place where your project--after being optioned by a studio--is rewritten, recast and endlessly fiddled with, but never made.
May 26, 1992
Live Entertainment Inc., a financially troubled Van Nuys videocassette distributor and retailer, reported a $1.89-million first-quarter loss on a 21% decline in sales. The company blamed the loss on decreased sales at both its home video distribution business and retail chains, declining profit margins at its retail division and increased expenses. It also said it was hurt because it had no major theatrical motion picture to release on video during the quarter.
April 19, 1997 | Bloomberg News
Live Entertainment Inc. said it agreed to be acquired by the closely held Chicago-based investment group Richland, Gordon & Co. for at least $150 million in cash and assumed debt. Under terms of the transaction, holders of the film and video distributor's Series B preferred stock would receive $10 a share in cash, plus accrued dividends. Holders of its common shares would receive $6 in cash.
July 30, 1992 | From Times Staff and Wire Reports
Live Restructuring Deal: Live Entertainment Inc., a Van Nuys-based video distributor, has reached agreement in principle with the unofficial committee representing certain holders of Live's 14.5% senior subordinated notes due in 1999 and Live's Series A preferred stock on restructuring terms. Details of the agreement were not announced. As part of the deal, however, Pioneer LDCA Inc. will provide interim film rights acquisition financing of up to $15 million to Live's home video subsidiary.
April 6, 1993
Live Entertainment Inc. said it has privately sold $37 million in 12% short-term notes to unidentified investors. Live, a Van Nuys-based concern that distributes home videos and operates music stores, said the new notes, which mature in September, 1994, would refinance a $20-million credit facility that had been provided to the company by Pioneer North America Inc.
August 23, 1994
Live Entertainment Inc., a Van Nuys videocassette distributor, reported a $1.37-million net loss for the second quarter ended June 30. A year earlier, Live lost $1.54 million. Its sales in the recent quarter fell 17%, to $29.2 million from $35.2 million in the second quarter of 1993. Live attributed the lower sales to fewer video rental releases in the second quarter, which was offset only partly by greater video sales. For the six months, the company lost $4.
February 2, 1993
Live Entertainment Inc. said its board has approved a plan for the company to file a so-called prepackaged bankruptcy reorganization plan this week. The plan is part of the company's effort to restructure its burdensome debt. Live, a Van Nuys-based distributor of home videos and entertainment software, said its debt would be reduced by about $70 million once the restructuring is complete.
June 18, 1991
Live Entertainment Inc., a Van Nuys home-video company, said it is negotiating the sale of some of the assests of Live's wholly owned subsidiary Lieberman Enterprises Inc. to Handleman Co. for undisclosed terms. Lieberman, based in Minneapolis, distributes videos, recorded music and computer software, and provides merchandising services to many of its retail customers.
August 17, 1993
Live Entertainment Inc., a Van Nuys distributor and retailer of videocassettes, said its second-quarter loss narrowed to $1.54 million from a loss of $13.4 million a year earlier. The company said its sales for the three months ended June 30 jumped 56%, to $67 million from $43 million in the previous year. Live said its smaller loss was also due to better operating profits and reduction in interest expense as a result of the financial restructuring of Live, which was completed in March.
October 1, 1996
Live Entertainment Inc., a Van Nuys distributor of home videos and other filmed entertainment, has created a new theatrical distribution division. Previously, Orion Pictures had distributed films for Live domestically. Steve Rothenberg, a former Savoy Pictures executive, will head the new Live unit as senior vice president of domestic theatrical distribution. Live said the first film it will distribute through the new division will be a romantic comedy titled "Hotel de Love."
March 26, 1996
Live Entertainment Inc., a Van Nuys videocassette distributor, turned around its flagging fortunes of the past few years with profits in its fourth quarter and for all of 1995. In the three months ended Dec. 31, Live earned $3.23 million, more than triple the $1.06 million it earned a year earlier. Its quarterly sales were down 8%, to $33.1 million from $35.9 million. For the year, Live reported a $10.8-million profit, reversing its 1994 loss of $9.77 million. Its annual sales grew 20%, to $140.
December 19, 1995 | JACK SEARLES
Live Entertainment Inc., a Van Nuys-based videocassette distributor, has agreed to sell its majority interest in a German home video distributor. Live said it will sell its 81% interest in VCL/Carolco Communications GmbH to Datty Ruth, the manager and owner of the other 19% of VCL. After the transaction, VCL will revert back to its original name, VCL Communications. Terms of the deal were not disclosed.
December 5, 1995
Live Entertainment Inc., the Van Nuys videocassette concern, said it has struck a film production financing arrangement with Coutts & Co. Live has two films under production as part of the deal. One is "The Substitute," starring Tom Berenger, a $15-million project; the second is a science-fiction film called "Shockwave," a $27-million production starring Charlie Sheen. Live also has a $30-million revolving line of credit with Foothill Capital Corp.
November 21, 1995
Live Entertainment Inc., a Van Nuys videocassette distributor with a long history of financial trouble, earned $1.6 million in the third quarter, but only after logging a one-time gain from the sale of its majority interest in a German video distributor. Without the gain, Live would have lost $1.32 million in the quarter ended Sept. 30. A year earlier, the company lost $6.63 million. Live's third-quarter sales totaled $40.1 million, up 19% from $33.8 million in sales a year before.
August 8, 1995
Live Entertainment Inc., a Van Nuys software and entertainment company, said its earnings rebounded in the second quarter that ended June 30, despite decreased sales. Earnings for the quarter were $1.06 million, compared to a loss of $1.4 million last year. Sales went down 23% to $22.5 million. For the six months that ended June 30, earnings were $5.96 million, compared to a loss of $4.2 million in the corresponding period last year.
March 28, 1995
LIVE Entertainment Inc., a motion picture videocassette company based in Van Nuys, reported a net loss of $9.8 million for the fiscal year that ended Dec. 31, compared to a net loss of $50.2 million in 1993. LIVE's sales for 1994 fell 19% to $139.9 million, compared to $172.2 million in sales during 1993. The company attributed the drop in revenue to having fewer video rental releases in 1994. However, in the fourth quarter of 1994 LIVE posted a profit of $1.
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