Live Entertainment Reduces Sales Price of Division

Live Entertainment Inc., a Van Nuys videocassette distributor, said that the cash sale price of its retail division has been reduced from $38 million to $35 million.

Also, under revised terms of the previously announced sale of the unit, the transaction will be structured as a merger with a company newly formed by the buying group, which includes executives of the division.

Live said it still expects the sale to be completed this month, although the deal is still subject to certain conditions.