Movie Industry New York

Orion Revamping Plan: New York-based Orion Pictures Corp. proposes to cut its overhead by 42% and centralize its operations in Los Angeles as part of a confidential restructuring plan, the trade paper Daily Variety reported. The financially troubled company, which is seeking to reorganize its debt, said it can save $45 million a year through reduced overhead. The firm blamed its financial problems on a series of disappointing releases in 1989 and 1990.

Orion Revamping Plan: New York-based Orion Pictures Corp. proposes to cut its overhead by 42% and centralize its operations in Los Angeles as part of a confidential restructuring plan, the trade paper Daily Variety reported. The financially troubled company, which is seeking to reorganize its debt, said it can save $45 million a year through reduced overhead. The firm blamed its financial problems on a series of disappointing releases in 1989 and 1990.