MEDIA & ENTERTAINMENT

Spelling Buys TV Rights to Carolco Film Library: Spelling Entertainment Inc. bought television rights to the 150-film library of struggling Carolco Pictures Inc., maker of high-budget action fare such as “T2: Judgment Day,” for $64 million. Spelling acquired Carolco’s unlicensed free, pay and pay-per-view TV rights in the United States, with some conditions. The library includes the “Rambo” movies, “Basic Instinct,” “Total Recall,” “L.A. Story,” “Platoon” and “Rambling Rose.” The transaction also includes an upcoming Richard Attenborough film about the life of Charlie Chaplin. Carolco reported a 1991 loss of $265.1 million.