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Lorimar Telepictures

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BUSINESS
July 9, 1986
Lorimar-Telepictures, Culver City, named Garrett Hart and Bruce Rosenblum senior vice presidents for research. Hart will manage corporate market research, while Rosenblum will oversee primary research syndication projects and sales strategies for certain Lorimar-Telepictures divisions.
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BUSINESS
January 12, 1989 | AL DELUGACH, Times Staff Writer
It was, as they say, the end of an era. Lorimar Telepictures Corp. at last was merged Wednesday into the entertainment mammoth Warner Communications Inc. Lorimar, which made its reputation producing "Dallas" and other television series, will survive as a Culver City subsidiary doing what it has always done best: TV. What it has done with notable lack of success--making movies, especially--has been wound down during the many months that the merger has been impending.
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NEWS
March 7, 1988
Lorimar Telepictures Corp. today revealed that it had been approached by Warner Communications Inc. to discuss a merger and said the talks were in a preliminary stage. Lorimar Telepictures, the target of many takeover rumors after five failing films last year, said it has been approached from time to time by a number of entertainment companies interested in merging. It said its board and management had not determined whether a merger would be in the best interests of Lorimar's shareholders.
BUSINESS
October 29, 1988 | AL DELUGACH, Times Staff Writer
Lorimar Telepictures, which recently agreed to lower its sale price to Warner Communications, reported Friday a $215-million net loss in the second fiscal quarter ended Sept. 30. In the same period a year earlier, it recorded a loss of $55.6 million. The Culver City-based entertainment firm said the results included an $85-million provision for loss related to commitments to complete and develop certain theatrical motion pictures.
BUSINESS
May 7, 1988 | AL DELUGACH
Michael N. Garin, 42, a co-founder of Telepictures who has been in top management at Lorimar Telepictures since a merger two years ago, has resigned as a member of the troubled film company's office of the president and as a director. In a joint announcement with Merv Adelson, chairman and chief executive, Garin said a major factor in his decision was the increased concentration of the company's operations in Los Angeles since it began restructuring.
BUSINESS
March 13, 1987 | MARY ANN GALANTE, Times Staff Writer
Two former executives of the home video division of Lorimar-Telepictures Corp. who resigned this week said Thursday that they do not believe that their financial interest in one of the division's suppliers amounted to a conflict of interest. Court Shannon, executive vice president of the Irvine-based Karl-Lorimar Home Video unit, and Gary Hunt, vice president, resigned Wednesday, along with Stuart Karl, president and founder of the division.
BUSINESS
May 7, 1988 | AL DELUGACH
Michael N. Garin, 42, a co-founder of Telepictures who has been in top management at Lorimar Telepictures since a merger two years ago, has resigned as a member of the troubled film company's office of the president and as a director. In a joint announcement with Merv Adelson, chairman and chief executive, Garin said a major factor in his decision was the increased concentration of the company's operations in Los Angeles since it began restructuring.
BUSINESS
April 12, 1988 | KATHRYN HARRIS
Lorimar Telepictures directors were said to be meeting late Monday to consider a merger proposal made by Warner Communications over the weekend, industry sources said, but the outcome could not be learned. The special session of the Lorimar board in New York came five weeks after the Culver City-based company first disclosed that it was approached by Warner to discuss a possible business combination.
BUSINESS
March 24, 1988 | From Times Wires Services
Investor Marvin Davis, snubbed in his $770-million takeover bid for Lorimar Telepictures, on Wednesday sent a letter to the company saying he is prepared to raise his $17-a-share offer if a review of Lorimar's books supports an increase. Noting that "the price of the stock has doubled on takeover rumors and well over 50% of the outstanding shares now are held by (stock speculators)," Davis said: "I believe you have passed the point of no return. . . .
BUSINESS
April 12, 1988 | KATHRYN HARRIS
Lorimar Telepictures directors were said to be meeting late Monday to consider a merger proposal made by Warner Communications over the weekend, industry sources said, but the outcome could not be learned. The special session of the Lorimar board in New York came five weeks after the Culver City-based company first disclosed that it was approached by Warner to discuss a possible business combination.
BUSINESS
September 17, 1987 | AL DELUGACH, Times Staff Writer
Lorimar Telepictures announced Wednesday the conditional sale of two New York advertising agencies for $143 million. They are among the peripheral assets that the loss-stained Culver City entertainment firm decided last June to shed. The management of Bozell, Jacobs, Kenyon & Eckhardt is buying that agency along with the much smaller Poppe Tyson agency. Both are based in New York.
BUSINESS
March 8, 1988 | KATHRYN HARRIS, Times Staff Writer
Lorimar Telepictures, laden with debt despite its success as a leading television programmer, announced Monday that it is exploring the "desirability" of a business combination with Warner Communications. Spokesmen for both companies characterized the discussions as "preliminary" in nature, but the news was greeted enthusiastically on Wall Street. Lorimar closed at $15 a share, up $2.50, on a volume of nearly 3.5 million shares, establishing a record for the company.
NEWS
March 7, 1988
Lorimar Telepictures Corp. today revealed that it had been approached by Warner Communications Inc. to discuss a merger and said the talks were in a preliminary stage. Lorimar Telepictures, the target of many takeover rumors after five failing films last year, said it has been approached from time to time by a number of entertainment companies interested in merging. It said its board and management had not determined whether a merger would be in the best interests of Lorimar's shareholders.
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