COMPANIES

Entertainment Firm to Sell Assets: Live Entertainment Inc. of Van Nuys, a video and music company, said it has agreed to sell most of the assets of its unprofitable Lieberman Enterprises Inc. subsidiary for about $100 million in cash to Handleman Co. of Troy, Mich. Lieberman, a Minneapolis-based video, recorded music and computer software distributor, has been hurt by the weak retail environment and lack of hit audio and video releases, Live said. The sale doesn’t include Lieberman’s accounts receivables and some assets of Navarre Corp., a Lieberman subsidiary that distributes personal computer and entertainment software. Live said the sale, scheduled to close in late July, will result in at least a $37-million writeoff on its financial statements. Carolco Pictures Inc. owns 54% of Live, and the two companies are considering merging.