Word: lorimar
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Dates: during 1980-1989
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...were the 2,700 movies in Columbia's film library. In addition, Warner Bros. will become sole owner of the valuable Burbank Studios -- which the two companies now jointly hold -- by acquiring Columbia's 35% interest in the film lot in exchange for sole title to Warner's smaller Lorimar Studio. And Warner will keep some 50 film projects that Guber and Peters have under development, including Batman and Rain Man sequels...
...largest shareholder, Chris-Craft Industries. Since the company holds some 15% of Warner shares, Chris-Craft could have complicated the nearly $20 billion Time-Warner merger. Chris-Craft might have done so by delaying the completion of the merger, as it did last year in Warner's acquisition of Lorimar Telepictures. Both Chris-Craft and Warner made concessions in reaching an agreement to no longer disagree. As part of the deal, Chris-Craft chairman Herbert Siegel will resign as a Warner director. Time Inc., the parent company of TIME's publisher, and Warner have scheduled meetings for June 23, when...
When TV Actress Valerie Harper and Lorimar Productions sued each other last year, it looked as if the case might drag on until 1992 before it even went to trial. After all, the Los Angeles court system is clogged with 150,000 new civil cases a year. But, instead, the mutual breach-of-contract suits -- a fallout from Harper's departure last summer from the NBC series Valerie -- went to trial together last week. The shortcut? With the blessings of the state court, both sides got together and hired a private judge. "I'm very happy to have...
...retired from the regular bench, preside for fees that usually range from $150 to $300 an hour. In many cases, they act merely as arbitrators or nonbinding mediators. But in California and in at least a dozen other states, they can also conduct proceedings -- like the Harper- Lorimar trial -- that have most of the trappings of regular court sessions, including depositions, witnesses and verdicts. The parties in the Harper- Lorimar dispute will jointly pay court costs of $15,000 a week, including $250 an hour for Judge Hogoboom. The case will be decided by a panel of jurors selected from...
...relatively small number of cases in which both parties want to come to agreement -- for example, in disputes between business partners who want to go on working together. But to keep growing, the private outfits continue to come up with new offerings. If either side in the Harper-Lorimar case is unhappy with the eventual verdict, for example, some of the rent-a-judge outfits have a new option they could always look into: rent-an-appeals-judge...