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April 14, 1989 | AL DELUGACH, Times Staff Writer
De Laurentiis Entertainment Group would emerge from bankruptcy proceedings and resume film production under a plan outlined Thursday by its prospective new owner, Carolco Pictures. Carolco, a Los Angeles firm that produced the Rambo movies starring Sylvester Stallone, said it would own 70% of a reorganized DEG under an agreement it expects to sign today with the company. Although DEG's creditors have consented to the agreement, it still requires bankruptcy court approval. The deal would provide for Carolco to get the ownership interest without paying any cash, said Carolco Chief Executive Peter M. Hoffman.
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