Carolco Unit to Acquire Home-Video, Music Firm

International Video Enterprises, 80%-owned subsidiary of Los Angeles-based Carolco Pictures, agreed Wednesday to acquire control of Lieberman Enterprises, the second-largest U.S. distributor of home-video and recorded music. It is the first step in a deal worth almost $100 million, not counting $54 million in long-term debt to be assumed by International Video.

International Video, a home-video producer, supplier and distributor with headquarters in Newbury Park, expects the acquisition to enable it to expand greatly in selling video films in the mass market already serviced by Lieberman Enterprises of Minneapolis.

Sylvester Stallone, who stars in Carolco’s “Rambo” movies, owns 12% of International Video. He also is a director of Carolco, which acquired International Video last year from Noel C. Bloom. Ben and Anthony Scotti, movie and record producers, hold another 8%.

Under the agreement announced by both parties Wednesday, International Video is to pay $21 a share for 2.1 million shares, or about $44 million, for a 43% stake owned by a management group led by Lieberman’s chairman and chief executive, David J. M. Lieberman.

With its own purchases in the open market, International Video expects to have a total of 55% when the deal is closed. Although details are not completed, the company says it will then offer the $21-a-share cash price to the public shareholders, possibly through a merger about 90 days after the closing. It said it also may offer public shareholders “alternative securities.”