ENTERTAINMENT

Carolco Fails to Pay Guilds: The producer, which is in the middle of a financial restructuring, missed a $3-million payment to Hollywood’s major guilds, a part of $15 million owed. The guilds can foreclose on the company in 30 days if Carolco fails to make up the payment. Separately, Carolco disclosed that it has reached a definitive agreement to restructure the company with its major investors, including France’s Canal Plus, Japan’s Pioneer, Italy’s RCS and the Metro-Goldwyn-Mayer studio.