February 9, 1999
Metro-Goldwyn-Mayer Inc. said its Orion Pictures unit sued Sony Corp.'s film unit for more than $20 million, claiming it underreported revenue from distributing Orion's home videos overseas. The suit, filed in Los Angeles Superior Court, charges that Columbia TriStar Home Video and others with breach of contract for "failing properly to account to Orion for monies received" by Sony for Orion videos distributed between 1985 and 1992.
April 21, 1997 |
Las Vegas billionaire Kirk Kerkorian is negotiating to acquire beleaguered Orion Pictures, primarily for its substantial film library, and a decision is expected by mid- to late-week, sources close to the deal said Sunday. One person familiar with the talks characterized the odds at "60-40" that Kerkorian would buy Orion from fellow billionaire John Kluge.
April 18, 1997 |
TV & RADIO 'Ellen' Under Fire: The "Ellen" episode in which Ellen DeGeneres' character "comes out" as a lesbian is again putting television on the firing line for its "family values." On Thursday a lobbying group chastised Disney, ABC and the producers of "Ellen," calling the show a "slap in the face to America's families." The Media Research Center took out a full-page ad in the trade paper Daily Variety to express its views, which a spokesman said have been underrepresented by the media.
February 1, 1996 |
The struggle over Samuel Goldwyn Co., one of Hollywood's few remaining independent film distributors, ended Wednesday when billionaire John Kluge's Metromedia International Group Inc. announced plans to acquire the company in a deal valued at $115 million. Metromedia's offer comes in two parts: $42.5 million in stock--$5 worth of Metromedia stock for each Goldwyn share--and the assumption of $72.5 million in bank debt that Goldwyn was under increasing pressure to pay.
November 28, 1995 |
Studios: Billionaire John Kluge, seeking to revive Orion Pictures, is buying movie producer Motion Picture Corp. of America for $32.5 million. The company, headed by Bradley R. Krevoy and Steven Stabler, is best known for producing the Jim Carrey hit comedy "Dumb and Dumber" that was distributed by New Line Cinema. As part of the deal, Krevoy and Stabler will be put in charge of production for Orion, and will try to revive the company's filmmaking efforts.
May 22, 1992 |
John W. Kluge, reportedly America's richest man, has agreed to infuse cash and forgive debts owed him as part of a deal to help rescue foundering Orion Pictures from bankruptcy, according to people familiar with the proposal. Kluge, who already owns 68% of the studio's stock, has agreed to put up $25 million in cash and to write off $29 million owed him in connection with Orion's 1990 release of the film "Mermaids."