Orion gets cash

Orion Pictures moved closer to being fully back in business with an agreement by Chemical Bank for a term loan to the cash-strapped company of $135 million to pay down debt and a revolving credit line of $50 million to finance production and acquisition of new films.

The company is in negotiations with the bank for an additional amount needed to refinance all of its debt, a pre-condition of the pending merger of Orion with Actava Group Inc., MCEG Sterling and John Kluge’s Metromedia Intl. Group Inc.

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