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ORION PICTURES ESTABLISHES DEADLINE FOR SUBMISSION OF PROPOSALS PERTAINING TO ACQUISITION OR REORGANIZATION

 ORION PICTURES ESTABLISHES DEADLINE FOR SUBMISSION OF PROPOSALS
 PERTAINING TO ACQUISITION OR REORGANIZATION
 NEW YORK, May 12 /PRNewswire/ -- Orion Pictures Corp. (NYSE: OPC) announced today that it has established 5 p.m. Eastern Daylight Savings Time on Thursday, May 14, 1992 as the deadline for submission of proposals pertaining to the acquisition or reorganization of Orion.
 Leonard White, interim president and chief executive officer of Orion, said: "We have received several indications of interest in addition to the proposals that have been publicly announced and we must now proceed rapidly toward a decision. We are encouraged by what we have heard so far and we are hopeful that we will be able to put together a workable plan of reorganization on a consensual basis. After Thursday, we will immediately begin discussing all proposals received with the several constituencies that will be affected."
 -0- 5/12/92
 /CONTACT: Paul Wagner of Orion Pictures, 212-632-5745, or Amy Goldberg of Sitrick & Co., 310-788-2850, for Orion Pictures/
 (OPC) CO: Orion Pictures ST: New York IN: ENT SU: TNM


AL-CH -- LA012 -- 9262 05/12/92 15:34 EDT
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Publication:PR Newswire
Date:May 12, 1992
Words:183
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