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SPELLING ENTERTAINMENT INC. ACQUIRES 150-FILM CAROLCO PICTURES U.S. TELEVISION LIBRARY

 SPELLING ENTERTAINMENT INC. ACQUIRES
 150-FILM CAROLCO PICTURES U.S. TELEVISION LIBRARY
 Library Includes: 'Rambo' Trilogy, 'Terminator 2,'
 'Basic Instinct,' and 'Total Recall'
 Plus Oscar Winners 'Platoon' and 'The Last Emperor'
 LOS ANGELES, Sept. 2 /PRNewswire/ -- Spelling Entertainment Inc., a wholly owned subsidiary of the Charter Co. (NYSE: CHR), and Carolco Television Inc., a wholly owned subsidiary of Carolco Pictures Inc. (NYSE: CRC), today announced that Spelling's Worldvision Enterprises Inc. division has acquired from Carolco Television Inc. its library of more than 150 films for U.S. television exhibition. The joint announcement was made by Mario Kassar, chairman and chief executive officer of Carolco Pictures Inc., and Ronald Lightstone, chief operating officer of Spelling Entertainment Inc.
 The library includes the hit films "Terminator 2: Judgment Day," "Basic Instinct," "Universal Soldier," the "Rambo" trilogy, "Total Recall," "L.A. Story," "Red Heat," "Air America," "Rambling Rose" and recent Best Picture Oscar-winners "Platoon" and "The Last Emperor." The deal also includes Richard Attenborough's soon-to-be-released "Chaplin."
 The transaction has an approximate value of $64 million, including the assumption of certain obligations and the purchase of certain accounts receivable. The rights purchased by Spelling include all of Carolco's United States unlicensed free, pay and pay- per-view television rights upon the conclusion of certain existing contracts and exhibition windows and subject to Carolco's right to sell certain retained network, pay and pay-per-view rights.
 Kassar stated, "We are pleased to be party to a transaction that so well suits both Carolco's and Spelling's strategic plans. Its consummation represents a primary building block in, and furthers Carolco's efforts to cut overhead, reduce bank debt and concentrate its financial, managerial and creative resources on its core feature film production operations. We wish Spelling and Worldvision the best of luck with this unique asset."
 "This agreement marks a significant and dramatic addition to Worldvision's library of theatrical feature films," Lightstone commented. "Carolco has been a primary provider of breakthrough box- office product for many years and has continued to do so through the current film year. It is a superior library combining both great commercial success and eminent artistic achievement, and we are pleased to help Carolco position itself to continue to be such a dominant production source.
 "This purchase also underscores our commitment to acquiring the highest quality film product and provides a powerful strategic base for the continued growth of Spelling Entertainment."
 Carolco Pictures is a diversified entertainment company which finances, produces and leases motion pictures for exhibition in domestic (United States and Canada) and foreign theatrical markets and for later worldwide release in all media, including home video and pay and free television.
 Charter, through its Spelling Entertainment subsidiary, is engaged principally in the development, production and distribution of television series, movies for television and television mini- series. Through its Worldvision Enterprises subsidiary, the company engages in the worldwide television and home video distribution of television and feature film programming produced by the company and third parties. The company also distributes feature films to all media in the international market, produces feature films financed and distributed primarily by major studios and licenses music and merchandising rights associated with its television properties.
 -0- 9/2/92
 /CONTACT: Dick Guttman or Annabelle Stevens, 310-246-4611/
 (CHR CRC) CO: Spelling Entertainment Inc.; Carolco Television Inc.;
 Worldvision Enterprises Inc.; Carolco Pictures Inc.; Charter Co. ST: California IN: ENT SU:


BP-AL -- LA033 -- 6174 09/02/92 19:28 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Sep 2, 1992
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