September 3, 1987 |
Frederick W. (Ted) Field, a film producer and an heir to the Marshall Field department store fortune, has agreed to sell the movie industry's prestigious camera supplier, Panavision, to a British firm for $147 million, it was announced Wednesday. The price for the Tarzana firm includes $100 million cash, with purchaser Lee International of London assuming $47 million of debt, the parties said. Field has controlled Panavision since 1985 through his 100%-owned Interscope Communications.
August 30, 1988 |
Last Oct. 13, former film lighting electricians John and Benny Lee seemed to be on top of the world. The British brothers had just bought Panavision, the Tarzana company that supplies 35-millimeter cameras and accessories to cinematographers in the movie and TV industry. That same day, the Lees bought out the public shareholders of Lee International, their London entertainment services conglomerate. The two deals cost $327 million.
April 12, 2002 |
Panavision Inc., a movie camera maker controlled by billionaire Ronald Perelman, canceled a $200-million bond sale because it couldn't find enough buyers for the debt. The Woodland Hills-based company also said it put off a plan to replace its existing bank-credit agreement. Panavision had planned to use proceeds from the note sale and funds from the new bank line to pay off existing bank debt and its 9.63% notes maturing in 2006.
CALIFORNIA | LOCAL
February 20, 2001
Panavision Inc. of Woodland Hills reported a net loss of $2.3 million for the fourth quarter that ended Dec. 31, compared with a net loss of $85,000 for the same period the year before. Revenue was $56.3 million, compared with $55 million. For the year, the company reported a net loss of $23.6 million, compared with $16 million, and revenue of $204.6 million, compared with $202.8 million.
April 7, 2004 |
PepsiCo Inc. and Rite Aid Corp. led companies that had credit ratings raised this year, pushing the ratio of upgrades to downgrades to the highest since 1998 in the first quarter, Moody's Investors Service said Tuesday. About 67 U.S. companies had credit ratings increased in the first quarter, the most since the fourth quarter of 2001, while 90 companies had ratings reduced, the fewest since the third quarter of 1998, when Moody's cut ratings of 74 companies.