Southland

‘Waterworld’ to Surface: The most expensive movie in Hollywood history officially opens Friday, when the Kevin Costner action film “Waterworld” hits theaters. The Universal Pictures film, which cost an estimated $180 million to make, was plagued by problems, including difficulties shooting on water in Hawaii and disputes between Costner and director Kevin Reynolds. Despite the costs, new MCA Inc. parent Seagram Co. is pretty much off the hook. When it bought 80% of MCA in June for $5.7 billion, seller Matsushita Electric Industrial agreed to keep the debt. In doing so, it absorbed most of the film’s costs. Ironically, Seagram could profit from the film, which on its own would have to do enormous business at the box office to enter the black.