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BUSINESS
July 22, 1991
Live Entertainment Inc., a Van Nuys home-video concern, said it expects to close its delayed acquisition of Vestron Inc. on Wednesday. Live said the deal to acquire Vestron, a Stamford, Conn., video distributor and film production company, was delayed to raise additional financing. Vestron filed for bankruptcy-court protection last November. In a reorganization plan that was approved by the court early this year, Live agreed to purchase the rights to Vestron's 1,200-video library for $27.
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BUSINESS
August 18, 1989 | KATHRYN HARRIS, Times Staff Writer
In an unusual move, financially ailing Vestron Inc. has filed suit against Security Pacific National Bank because the bank last year pulled out of a deal to provide a six-year, $100-million line of credit to the entertainment company. The bank's action last October forced Vestron--the producer of the hit film "Dirty Dancing"--to withdraw a $50-million public offering of debt securities and sent the company scrambling for short-term financing.
BUSINESS
July 22, 1991
Live Entertainment Inc., a Van Nuys home-video concern, said it expects to close its delayed acquisition of Vestron Inc. on Wednesday. Live said the deal to acquire Vestron, a Stamford, Conn., video distributor and film production company, was delayed to raise additional financing. Vestron filed for bankruptcy-court protection last November. In a reorganization plan that was approved by the court early this year, Live agreed to purchase the rights to Vestron's 1,200-video library for $27.
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