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TECHNICOLOR, INC. TO MAKE INVESTMENT IN REPUBLIC PICTURES CORPORATION

TECHNICOLOR, INC. TO MAKE INVESTMENT IN REPUBLIC PICTURES CORPORATION
 LOS ANGELES, Feb. 18 /PRNewswire/ -- Republic Pictures Corporation (NASDAQ: RPICA) announced today an agreement in principle with Technicolor, Inc., whereby Technicolor will acquire 200,000 newly issued shares of Republic's Class A Common Stock for $3.0 million cash, or $15.00 per share. Following this transaction, Technicolor will own 4.4 percent of Republic's total shares outstanding.
 Republic Pictures also announced an agreement in principle whereby Technicolor, Inc. will become the exclusive videocassette duplication and fulfillment company for Republic Pictures Home Video, as a result of which Republic expects to achieve meaningful cost-savings and service efficiencies. Both the Common Stock and duplication agreements are conditional upon completion and execution of definitive agreements, which are expected to occur by March 1992.
 Republic Pictures Corporation is a producer and worldwide distributor of television programs, including the winners of both the Emmy and Golden Globe Awards for Best Movie/Miniseries of 1991 ("Separate But Equal" and "One Against The Wind"). The Company also acquires theatrical and television productions for its worldwide television, theatrical and home video distribution operations. Republic is well-known for its extensive library of classic films and off-network television series. Republic Pictures Home Video distributes new feature films and television movies to the rental market, as well as the Republic library and special-interest titles to the sell-
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 /CONTACT: David Kirchheimer, senior VP and CFO of Republic Pictures Corp., 310-302-1637, or John Siciliano, senior VP and CFO of Technicolor, 818-505-5110, or Steve Stern of Sitrick and Company, 310-788-2850, for Republic Pictures/
 (RPICA) CO: Republic Pictures Company; Technicolor, Inc. ST: California IN: ENT SU:


AL -- LA014 -- 9956 02/18/92 12:49 EST
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Publication:PR Newswire
Date:Feb 18, 1992
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