Company Town

Mergers: IndieProd Co., a movie production firm headed by veteran film producer Dan Melnick and Allen Shapiro, will combine as expected with TV producer Konigsberg Co. and will receive an undisclosed infusion from Silicon Valley software publisher Electronic Arts. The infusion will help the combined companies toward their goal of raising about $70 million from investors through Bear, Stearns & Co. Electronic Arts, which is aiming to develop interactive projects with the company, is expected to have a small equity stake in the firm, which has yet to be named. IndieProd's films include "Universal Soldier," "Roxanne" and "Mary Shelley's Frankenstein." Projects by Konigsberg, headed by Frank Konigsberg, include the miniseries "Children of the Dust," airing this week on CBS and starring Sidney Poitier and Farrah Fawcett.

* Exhibition: Los Angeles-based Pacific Theatres will join with Craig Corp., which Pacific partly owns, and Craig affiliate Reading Co. to bid on the MGM Cinemas in Europe being auctioned by French bank Credit Lyonnais. Pacific and Reading also dissolved a partnership to develop movie theaters in California and Hawaii.

For the Record Los Angeles Times Wednesday March 1, 1995 Home Edition Business Part D Page 2 Financial Desk 2 inches; 36 words Type of Material: Correction Allen Shapiro--A caption in Tuesday's editions that ran with a photo of Al Shapiro, executive vice president and general sales manager of New Line Distribution, incorrectly identified him as Allen Shapiro, co-head of movie production company IndieProd.
Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World