Rysher Entertainment, Kushner-Locke to Merge
Rysher Entertainment, a Studio City television production and distribution firm, has reached a tentative agreement to merge with Kushner-Locke, a publicly traded TV producer.
The transaction, anticipated to close by Sept. 30, calls for Kushner-Locke to acquire all the outstanding capital stock of Rysher and its related companies, Rysher Distribution Inc. and Rysher Sales Services Inc., in exchange for Kushner-Locke common stock.
The exact number of shares to be exchanged will be based on a multiple of five times Rysher’s 1992 net income, but is expected to be about 5 million Kushner-Locke shares, which have a present market value of $5.8 million.
Rysher’s productions have included the NBC situation comedy “Saved by the Bell” and a new hourlong syndicated series called “Highlander.”
Kushner-Locke has produced TV series, including “First and 10” and “Sweating Bullets,” and TV movies such as “Sweet Bird of Youth” with Elizabeth Taylor.
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