OTHER NEWS - July 26, 1991

Live Offers to Buy Carolco: Live Entertainment, a Los Angeles-based home video distributor and record retailer, proposed to merge with independent film producer Carolco Pictures through a stock-swap transaction. Under the proposed deal, Live technically would be the surviving entity despite Carolco now owning 54% of Live. Live shareholders would receive $21.50 worth of stock--and not less than two shares--in the merged company for each current share. Carolco shareholders would receive one new share for each old one. Carolco said its board met to consider the offer, but would not comment further.