Word: lorimar
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Would J.R. Ewing submit quietly to being taken over? No way, but the ( financially troubled TV studio that created him, Lorimar-Telepictures, may soon accept that fate. Lorimar, which produces Dallas and Knots Landing, has stumbled badly after expanding too fast into areas beyond its ken, including feature films (among its flops: Made in Heaven and American Anthem). Last week the company agreed to a friendly acquisition by Warner Communications, whose TV studio already produces such hits as Night Court and Growing Pains, for $630 million in stock and the assumption of $550 million of Lorimar's debt. But late...
...early this year. Boesky is said to have bought 10,000 shares of Pacific Lumber stock three days before the tender was made public, and he may eventually have owned 5.1% of the company's shares. Another case reportedly receiving scrutiny is the $400 million merger in February of Lorimar, producer and syndicator of Dallas and Falcon Crest, with Telepictures...
...reduce the debt mountain by finding a buyer for the company's movie-production-and-distribution business, its film-processing labs and its 45-acre studio lot near Los Angeles. In June he negotiated a complicated three-way deal in which the studio and film lab were sold to Lorimar- Telepictures (producers of Dallas and Falcon Crest), and the movie, TV and video operations went right back to Kerkorian. Proceeds from those sales might be sufficient to meet the September debt payments, but the terms are still under negotiation...
...versions of their children's stories on 30-minute cassettes. Toys-R-Us, the nationwide toy chain, is now selling the Geoffrey Alphabet Video, which features National Geographic animal footage and original songs by Elizabeth Swados. Preschoolers can exercise and play along with Gymboree, an interactive cassette from Scholastic-Lorimar Home Video. Harried mothers can enliven a youngster's birthday celebration with Rainbow Brite's It's Your Birthday Party, a 45-minute tape that enlists partygoers in various games and activities...
...founder of Lorimar, corporate...