Live Entertainment Buys German Home Video Firm
Live Entertainment Inc., a Van Nuys-based home video and recorded music distributor, said it completed the acquisition of the majority of Munich-based VCL Communications GmbH, a German home video distributor, for an undisclosed price. Live said the acquisition of VCL, which has annual revenue of more than $25 million, marks its debut in overseas home video distribution.
Live said VCL would give it a foothold in Europe in advance of the integration of the European Common Market in 1992. VCL is expected to acquire the rights for German-speaking areas to many of the films produced by Carolco Pictures Inc. Carolco owns a 49% voting interest in Live.