Focus on Entertainment Stocks
Spotlight on Live Entertainment Inc.: The Van Nuys-based company, which employs more than 1,450 people, produces its own films and acquires distribution rights to selected motion pictures--primarily for sale to videocassette wholesalers and retailers. Following its acquisition in 1991 of Vestron Video, the company has seen several changes in top management, culminating in August with David Bishop’s promotion to president and chief operating officer. Although the last three quarters have seen losses, a company spokesperson said Live is on track “with an exciting and full slate of films for 1994.”
Major Properties
* Video distribution: “Chaplin,” “Glengarry Glen Ross,” “Tom & Jerry: The Movie,” “American Heart”
* Retail division: 142 stores in 11 states sell audio and video software
* Video production: “Bob Roberts,” “Reservoir Dogs,” “Bad Lieutenant”
Financial Data
* Market capitalization: $28.7 million
* Cash: $18.8 million
* Long-term debt: $79.1 million
* 1992 revenue: $291.4 million
* 1992 loss: -$12.4 million
* Loss per share: -$1.22
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