January 13, 1996 |
Cinergi Pictures Entertainment said late Friday that it was told by U.S. prosecutors that its chairman and chief executive, top Hollywood producer Andy Vajna, is under investigation by a federal grand jury. Cinergi said it believes the investigation is related to "a long-standing federal audit of Mr. Vajna's personal tax returns." The company said it is responding to two subpoenas to produce documents for the grand jury and was told it is not a target of the investigation.
January 4, 1996 |
Mario F. Kassar, the maverick producer of mega-budget movies who resigned as chairman of Carolco Pictures in November when the ailing company filed for bankruptcy, has landed at Paramount Pictures with a three-year deal to produce movies, the studio announced Wednesday. The deal was described by sources as a conventional "first-look" arrangement in which Paramount has first shot at films Kassar brings to the studio.
November 11, 1995 |
Twentieth Century Fox Film Corp. on Friday agreed to buy nearly all the assets of mega-budget movie producer Carolco Pictures for $50 million, ending one of the wildest rides among Hollywood production companies. Also Friday, long-troubled Carolco filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code, a move that had been widely expected and discussed for weeks with creditors.
October 8, 1994 |
Bringing "Cutthroat Island" to the big screen may be the toughest feat yet attempted by impresario Mario Kassar, a cinematic Houdini who has made his reputation escaping from tight spots. On Friday, however, director Renny Harlin and female lead Geena Davis headed to Malta for the Oct. 31 shoot on the assumption that the Carolco Pictures' chief will, once again, pull it off.
May 8, 1993 |
Mario Kassar Signs New Contract: The Carolco chairman--whose movie company has produced such big-budget hits as "Terminator 2: Judgment Day" and "Basic Instinct"--has agreed to stay with the company through 1997, according to a revised Carolco restructuring plan filed with the Securities and Exchange Commission. Separately, Carolco said its 1992 loss narrowed to $88 million from $265 million in 1991, with 1992 revenue at $565 million.
December 30, 1992 |
Carolco Pictures Chairman's Pay Disclosed: Mario Kassar would be paid $5.25 million through 1994 under a proposed employment agreement, according to a Securities and Exchange Commission filing. Carolco, which is undergoing a reorganization, would pay Kassar $1.5 million in 1992, $1.75 million in 1993 and $2 million in 1994.