Live Entertainment Reports Big Loss in 2nd Quarter

Live Entertainment Inc., a Van Nuys videocassette distributor, reported a $1.37-million net loss for the second quarter ended June 30.

A year earlier, Live lost $1.54 million. Its sales in the recent quarter fell 17%, to $29.2 million from $35.2 million in the second quarter of 1993.

Live attributed the lower sales to fewer video rental releases in the second quarter, which was offset only partly by greater video sales.

For the six months, the company lost $4.21 million, while sales declined 27%, to $47.4 million. A year before, it had a net loss of $2.27 million on $64.7 million in sales.

Live has agreed to merge with Carolco Pictures Inc. in a tax-free exchange of stock. The transaction is expected to be completed by the end of the year.