Correcting Live Entertainment news release issued Nov. 6.LOS ANGELES--(BUSINESS WIRE)--Nov. 6, 1995--LIVE Entertainment Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on SmallCap:LIVE) and Datty Ruth, managing director of VCL VCL - Visual Component Library , Monday jointly announced that they have finalized See finalization. the agreement for Ruth's acquisition of LIVE's 81-percent interest in VCL/Carolco Communications GmbH. Ruth currently owns the remaining 19 percent of VCL. The company will revert re·vert v. 1. To return to a former condition, practice, subject, or belief. 2. To undergo genetic reversion. back to its original name, VCL Communications GmbH. "I have found my relationship with LIVE over the past years to be mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" . I am now excited to own 100 percent of Germany's leading independent video distribution company, which I originally built in 1981," commented Ruth. "The company is looking forward to such high-profile projects as `Judge Dredd
Judge Joseph Dredd is a comics character whose strip in the British science fiction anthology 2000 AD ,' `Seven,' `Now and Then,' `The Scarlet Letter' and `Four Rooms' to be released in 1996 in German-speaking Europe The German language (both as an official language and as a minority language) is spoken in a number of countries and territories in Central Europe. To cover this speech area they are often referred to as the German speaking countries or the German speaking area. , and most recently, we agreed to distribute the video rights for seven titles from Tobis, one of Germany's largest independent theatrical distributors, including such titles as `Showgirls,' `T-Rex' and `Alf: The Movie.'" "LIVE has enjoyed its six-year relationship with Datty Ruth and the VCL staff," commented Steve Mangel, vice president, LIVE International. "We look forward to continuing to do business with VCL in the future through LIVE International, which will license LIVE's film properties in Germany on a nonexclusive basis. "This sale will allow LIVE to concentrate on its core business -- the domestic and international marketing and distribution of filmed entertainment products with a primary focus on high-caliber theatrical motion pictures." LIVE Entertainment, with headquarters in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , is a diversified entertainment company and software supplier specializing in the domestic and international marketing and distribution of filmed entertainment, with its primary focus on motion pictures. The company distributes to the theatrical, nontheatrical, home video, interactive and television markets both domestically and internationally through its subsidiaries, including LIVE Entertainment, LIVE International, LIVE Home Video, LIVE Interactive and LIVE Film and Mediaworks. VCL/Carolco Communications is a home video distribution and marketing company with headquarters in Munich, Germany. CONTACT: LIVE Entertainment Inc., Los Angeles Ron Cushey, 818/778-3167 Debra Stein, 818/778-3174 or VCL Communications GmbH, Munich Datty Ruth, 49.89.4200.8112 |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion