New Visions Restructuring Debt: New Visions Entertainment,...
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New Visions Restructuring Debt: New Visions Entertainment, a Beverly Hills-based independent film producer, said that more than two-thirds of the beneficial owners of its 9.5% bonds agreed to restructure the $16-million debt. The relief was made conditional upon several company actions, including making its overdue March interest payment of more than $700,000 by Aug. 15. At the same time, New Visions reported a net loss of $14.1 million for the fourth quarter and $22.2 million for fiscal 1989.
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