GoodTimes Home Video has pacted with NBC Enterprises to release “Late Night With David Letterman.” The 10-year agreement will give the homevid company access to all 11 years of the groundbreaking talkshow.

The multiple Emmy-winning series debuted in 1982 and became the latenight ratings leader for the coveted 18-34 age group.

“He’s timely. He’s hot,” said Jeff Baker, GoodTimes veep, referring to the popular talkshow host who has made the Top 10 List and Stupid Pet Tricks household phrases. “He has a huge following and we intend to capitalize on that.”

The firm will aim its multimedia marketing strategy toward that demographic, promoting the product through direct response techniques such as TV or mail order, or through its direct to retail distribution system.

GoodTimes is one of the few major homevideo players that sells directly to retail, avoiding the traditional two-step process — studio selling to distributors who in turn sell to retail.

GoodTimes has not set a price for the tapes, which are expected to be released in early 1994. The firm is also deciding whether to offer them in sets or as individual episodes. Tapes of this genre typically have a $ 19.99 list price in the sell-through marketplace.

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