OTHER NEWS - Dec. 30, 1992

Carolco Pictures Chairman’s Pay Disclosed: Mario Kassar would be paid $5.25 million through 1994 under a proposed employment agreement, according to a Securities and Exchange Commission filing. Carolco, which is undergoing a reorganization, would pay Kassar $1.5 million in 1992, $1.75 million in 1993 and $2 million in 1994. Kassar would also receive unspecified “additional incentive compensation” and would serve as chairman of the board, chief executive and as a member of the newly formed executive committee, the filing said. Los Angeles-based Carolco is best known as the producer of “Basic Instinct” and “Terminator 2.” In a related development, Carolco’s stockholders are being asked to vote on a proposed 10-for-1 reverse stock split that would reduce their voting stake in the company to 3% from 30.1%. The move is seen as a way to make Carolco’s stock more attractive.