Company Town

Film: Audio and hardcover book publisher Dove Audio is entering the international film sales business at the Cannes Film Festival in France with the movie Kla$h, a Jamaican film starring Jasmine Guy and Giancarlo Esposito. The company plans to act as international sales agents for movies, matching distributors with filmmakers looking for capital. Jeff Schechtman, a former executive vice president with New Line Cinema and former senior vice president with New World Pictures, will head the division. Publicly traded Dove, best known for its audio books, made a splash when it released Faye Resnick’s tell-all biography of Nicole Brown Simpson.

Producers: Carolco Pictures said it lost $5.6 million in the first quarter of 1995, compared to $2 million a year earlier, as revenue fell to $6.5 million from $23 million. The company reiterated its previous statements that it doesn’t have sufficient cash to meet its operating expenses and debt service in the next year and is considering selling assets and may file a Chapter 11 bankruptcy petition. Carolco produced such films as “Terminator 2: Judgment Day” and “Basic Instinct.”