The Los Angeles Times from Los Angeles, California on March 25, 1994 · Page 52
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The Los Angeles Times from Los Angeles, California · Page 52

Los Angeles, California
Issue Date:
Friday, March 25, 1994
Page 52
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P4 FRIDAY, MARCH 25, 1994 LOS ANGELES TIMES ompany Town The Times Music Index ' - UI-.W!4IJMIgniTr Total album and single sales of CDs and cassettes fpr the week ended March 20, compared to week-ago and year-ago levels, in millions sold: I . 10 -pi ' pi ; 9.4 ''8- -!! V?1 jO Album.! j , - jOsintfM J vtz rn J j 2.0 2.0 2.0 ; i t "' ""a i-0l fc'J 1 i I ' 1 Latest week Week-ago Year-ago Motley Crue: No. 1 at Warner. Atop the Charts Monthly record company market share as of February, based on units sold. This is 'a"n Indicator of music company performance. Total Top-selling Rank Distributor share Albums Singles album Artist . J -. WEA 20.29 20.30 20.21 Motley Crue Motley Crue - 2 . Sony 17.55 . 17.48 17.95 Music Box Marian Carey BMG 13.76 12.90 18.60 Sign Ace of Base "'4 PolyGram 12.51 12.08 14.90 Superknown Soundgarden 5 CEMA 11.86 12.31 9.31 Cross of Changes Enigma 7.6 - UNI 11.11 11.45 9.19 August & Everything Counting Crows Hits Magazine Tip of the Week . If it involves the reunited Eagles, it's bound to ruffle some feathers. With both Don Henley and Glenn Frey testing the limits oMheir seven-year employment contracts with Geffen and MCA records respectively, industry insiders believe no major label will risk litigation and possible damages by signing the Eagles for a reunion album. One possibility is that the Eagles could produce, market and distribute the album on their own without the help of a major label. We' Hits magazine Is a weekly music Industry trade publication. Source: Soundscan Inc. ft' i , 5k. I j L.-a...,JJ..,..i.. Don Henley Los Angeles Times fit "J Deals FilmVideo: Live Entertainment and Carolco Pictures, two closely tied companies, are merging in a deal that will give Live shareholders up to 29 of the J -new entity. Carolco once held as much as 53 of Live, but the shares were turned n over to Carolco investors Pioneer, Italy's RCS Video and Canal Plus as part of a financial bailout. Those investors now own 42 of Carolco's voting stock and 56 iinrf Live's voting shares. Carolco is the producer of such films as "Cliffhanger." Live is best known as a distributor of home videos. Mario Kassar will serve as chairman of the new company, to be called Carolco Entertainment Inc. Separately, Live will ; s'eek a buyer for a specialty retail chain and a German video distribution company, 1 y which will result in a onetime loss of $30 million. JAMES BATES THE BIZ ALAN CITRON Douglas, Reuther Join Forces Again With Hollywood film production already running at a feverish pace, add another competitor to the power rolodex. Actorproducer Michael Douglas on Thursday announced that he has formed a company with veteran entertainment executive Steven Reuther. Douglas Reuther Productions is negotiating with possible equity partners, in addition to working on a domestic distribution agreement. One source denied speculation that the company is close to a striking a deal with Warner Bros. Douglas, whose production credits in- . elude the Academy Award-winning "One Flew Over the Cuckoo's Nest," is disbanding his Columbia Pictures-based Stone-bridge Entertainment Reuther, who recently resigned as president of New Regency Productions, previously worked with Douglas on "War of the Roses," "Made in America" and "Falling Down." Lyle Lovett has another new partner besides actress Julia Roberts PolyGram Music Publishing Group. Lovett is the first major performer signed by the company's new president, David Simone, who has been brought in to bolster PolyGram's roster in the publishing area. PolyGram beat out larger companies such as WarnerChappell Music for the Lovett catalogue, which has been administered by Criterion Music. Ken Levitan, his manager, says Lovett chose PolyGram because of his friendship with Simone, who used to work at MCA, and because PolyGram offered "a wonderful environment as a place to house Lyle's songs." Lovett's recording contract with MCA is not affected by the deal. Simone says he plans to work with other divisions at the London-based conglomerate, including f PolyGram Filmed Entertainment, to find new ways of exploiting songs by Lovett and other publishing clients including U2, k.d. lang and the Cranberries. a As Tom Hanks accepted the best actor Oscar for "Philadelphia" on Monday, former TriStar Pictures Chairman Mike Me-davoy watched from a hotel room outside Palm Springs. Medavoy, who gave the go-ahead to the film at TriStar, says he left town to escape all the Oscar hubbub. After arriving at his hotel, Medavoy says he spent most of the evening "watching the stars and just gazing out into the air." He switched on the telecast just in time to catch Hanks' emotional acceptance speech. After a half-hour, and not feeling well, he "turned off the TV. . . and went to sleep." i ft' . s 1 ' '"'AA. rri--wm.rirrhMMiiiMiM 'rThrr -WfiiiiniwiimuiiiTii iiiiiiii-iia-iiiimniiii Holly Hunter, this year's Oscar-winning best actress, cuts the ribbon in front of the American Pavilion at Cannes Film Festival '93. The Pavilion opens again this year. Medavoy, who left TriStar two months ago, says he is in no hurry to rejoin Hollywood's rat race. But that doesn't mean that he's turned a totally deaf ear to the pitter-patter of little paws. He confirmed published reports of business conversations with Peter Hoffman, the former Carolco executive who heads the productiondealmaking firm Cinevi-sions; and Arnold W. Messer, who used to run ColumbiaTriStar International. Medavoy says he has also met with "foreign entities," though he refused to identify the companies or the nature of the discussions. "I'm kind of looking at everything to see what I should do, and want to do," he adds. American films may not be much in evidence at the upcoming Cannes Film Festival, based on recent reports. But organizer Julie Sisk says the American Pavilion definitely will return. The pavilion is a lively gathering place for industry-oriented panel discussions, celebrity appearances (this week's Oscar winner for best actress, Holly Hunter, opened the center last year), the crowded bar scene and the nighttime parties, including a raucous New Line Pictures event last year for "Menace 2 Society." Sisk says she is still lining up sponsors. Also at issue is whether the pavilion will return to its usual location next to the festival headquarters, since organizers are considering a change of venue. Either way, says Sisk, the show will go on. Count Bruce McNall as one forgiving guy. The Los Angeles Kings owner and sometime movie producer was conspicuously not absent from the exclusive Vanity Fair party on Oscar night, even though he's accused in the magazine's current issue of being a former coin smuggler. McNall has downplayed the significance of events described in the magazine. A spokesman says that the Kings owner came to the party because he was invited. McNall spent much of the evening with fellow ice hockey magnate, Walt Disney Co. Chairman Michael D. Eisner. Other EastWest Coast power brokers at the party, co-hosted by producer Steve Tisch and Vanity Fair editor Graydon Carter: Advance Publications' S.I. and Donald Newhouse, financiers Ronald Per-elman and Marvin Davis, QVC Chairman Barry Diller, Walt Disney Studios Chairman Jeffrey Katzenberg, Universal Studios Chairman Tom Pollock and Robert Daly and Terry Semel of Warner Bros. From Washington there was presidential spokeswoman Dee Dee Myers and political power couple James Carville and Mary Matalin. Behind the scenes Hollywood figures included producers John Davis, Joel Silver, Ted Field, Leonard Goldberg, David Friendly, Don Simpson and Jerry Bruckheimer, and talent agents Jim Wiatt, Jay Moloney and Rick Nicita. Credit Lyonnais Posts $1.2-Billion Loss; Bailout Planned From Times Staff and Wire Reports French state bank Credit Lyon- ii. ilinais, owner of Santa Monica-based JMetrg-Goldwyn-Mayer, said its j net loss more than tripled to about 1 $1.2 biljion in 1993 and disclosed a J ! state-engineered bailout. " A hank snnlrpsman said the loss4the largest in French banking' history was mainly due to rea estate problems, with a relatively;' small amount set aside for Droblcm entertainment loans. Credit Lyonnais has been plagued J; by losses on loans in the 1980s to a J batcijiof now-defunct or ailing i ! Holly wood companies. In the state-sponsored bailout, Credit Lyonnais will receive an infusion of $833 million with a possible second infusion later in the year. Under the plan, nearly $7 billion in bad real estate loans were taken off Credit Lyonnais books and put into a state-controlled shell company. The net loss was higher than predicted by most banking 'analysts. It compared with a loss of about $320 million in 1992. The bank, however, said it expects to be close to break-even this year, with a return to profit in 1995, and said it expects profits to reach more nor- CONSUMER: Child Safety Ranks First 'Continued from D3 ! labels. At think labeling is sometimes 6'verused to the extent that yon &y, 'We've labeled it, therefore jwe've taken care of the : problem).' But my instinct is that any time we do a label, it would have to be in Spanish and English. ! I think we have so many people who speak Spanish as their first jj (anguage that we have to do that. Qlt seems that many if not all of your concerns deal with children. A Absolutely. I have to be careful not to make them my whole priority. I'm a mother, a grandmother and a professional in children's safety. When I made my list of priorities and you have to prioritize, I can't make the whole world safe the children's things just stuck out. MARKETS Continued from D2 I fell & to 60V6 and was the volume Header on the New York Stock ,; Exchange. Jj Ot;her Mexican stocks fell in heavy U.S. trading as investors I reacted to Colosio's killing, includ-Jed Iglassmaker Vitro, which ', dropped 1 to 20V, and construction i company Empresas ICA which end- i!edoff2V4at25. Among the market highlights: uto stocks were big losers after a report that Sanford Bern-j! stein & Co. downgraded the group's , a , rating. General Motors fell 2V4 to1 58; Chrysler fell 2 to 56V6; Ford slid 2 to 61. Gold shares gained, with New-mont Mining up 1V4 to 58 V, Homes-take Mining up to 22, Battle Mountain Gold up V to 12, Sunshine Mining up V6 to 2, American Barrlck up Vi to 25 and Placer Dome up V4 at 25V4. The dollar dropped to new 1994 lows against the mark, closing at 1.6655 marks, up from Wednesday's 1.6805 marks. The greenback ended at 104.45 Japanese yen, down from 106.25 yen on Wednesday. Market Roundup, 06 HWiWt fcttt 00 a u IVIassey p oh evro LETGea 10707 Studebakek Ro. Downey Where The 5. 605 And 105 Meet 310863-S331 7145213624 mal levels in 1996. Credit Lyonnais has until 1997 to sell MGM, which it took over in 1992 after former owner Giancarlo Parretti defaulted on loans made by the bank. The bank is currently . trying to rebuild the studio under a new management team led by former Paramount Pictures Chairman Frank Mancuso, former Creative Artists Agency agent Michael Marcus and former Warner Bros. executive John Calley. The bank is , being advised on MGM by Creative Artists Agency Chairman Michael S. Ovitz. The French government, which owns a majority of Credit Lyonnais, plans to privatize the bank, probably next year or in 1996. The moves to clean up the bank's ailing balance sheet are being made in part to improve its financial condition once that happens. Ac " ri0,f MORTGAGE RATES ARE RISING! Get Today's Rates Today from Mortgage Rate Fax For One Month Only, Just $1. Rates can change every day. Get current information on the six most common residential loans from many of Southern California's largest direct lenders. All information is independently verified and includes: Interest rates A.P.R. Points Lock (days) Percent down Monthly payment per thousand dollars Call TimesLink with your order after 2 p.m. Monday through Friday, and that day's rates will be faxed to you in a matter of minutes... for just $1 . Have your credit card and fax numbers handy when you call. Just callKSLinlc at 808-8463, 8630. Order document 2701. American Express, Visa and MasterCard accepted. Bos AtiQetes (Junes Note: TimesLink is available In the 213, 310, 818, 714 and 909 area codes. 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