Financial Briefs

Robert DeNiro’s Tribeca Pictures has teamed up with Henninger Video Inc. to form Tribeca Henninger Editing Tools.

The venture, called T.H.E. Tools, will offer customers of Tribeca Film Center in New York complete nonlinear random access editing services.

Random-access editing moves film to videotape, where quick editing can be done cheaply.

Equipment is also available for location services.

Orion Pictures topper John Kluge and partner Stuart Subotnick privately purchased $ 2.55 million, or 425,000 of Image Entertainment Inc.’s common shares , at $ 6 per share, on Dec. 30, 1992, through the pair’s Image Investors Co., raising their stake in the company to 38.2% of outstanding shares from 35.9%. They also picked up another warrant to purchase 425,000 shares at $ 6.00 per share through Dec. 31, 1997.

Viacom International Inc. has completed the sale of its suburban Milwaukee cable system to Time Warner Cable for $ 95 million, which should bring in about $ 55 million to the cablecaster’s pretax earnings for 1993’s first quarter. Sale was originally announced Aug. 20, 1992, as part of the settlement of Viacom’s antitrust lawsuit against Time Warner.

Alex Brown & Sons Inc. raised its investment rating on Acclaim Entertainment Inc. to “strong buy” from “buy.” In NASDAQ trading, Acclaim rose 1 1/2 or 8.8%, at 18 5/8.

Tribune Broadcasting Co. said it acquired Denver radio stations KOSI-FM and KEZW-AM. The company had announced in May its plans to buy the stations from D & D Broadcasting Inc. for $ 19.9 million in cash.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety