Live Inc. Signs Pact for Film Production Financing
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Live Entertainment Inc., the Van Nuys videocassette concern, said it has struck a film production financing arrangement with Coutts & Co.
Live has two films under production as part of the deal. One is “The Substitute,” starring Tom Berenger, a $15-million project; the second is a science-fiction film called “Shockwave,” a $27-million production starring Charlie Sheen.
Live also has a $30-million revolving line of credit with Foothill Capital Corp.
Film production is a change in strategy for the company. Previously, Live has only acquired distribution rights for films and then released them on videocassettes.
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