April 19, 1997 |
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.
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 |
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.