From Times Staff and Wire Reports

Republic Pictures Seeks Merger With Orion: Republic Pictures Corp. tossed its hat into the ring to rescue troubled Orion Pictures Corp., proposing a reorganization plan under which the companies would merge. Under the proposal, Orion's creditors would receive about $400 million that is owed to Orion, a $150-million note issued by the merged company and 10% of the common stock of the combined entity. Orion, a Hollywood studio known for producing quality films and giving directors broad creative freedom, has been crushed by $500 million in debt. It filed for Chapter 11 bankruptcy protection last December.

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