2 Film Companies Report Big Losses: Independent distributor Savoy Pictures, plagued by box-office bombs such as "Steal Big, Steal Little," posted a $31.7-million loss for the quarter ended Sept. 30. The company, which lost $39.8 million for the first nine months of the year, recently announced that it is retreating from the film business to put more emphasis on television. Separately, Cinergi Pictures posted a $9.1-million loss for the third quarter, reflecting the poor performance of its film "The Scarlet Letter." For the first nine months, Cinergi recorded a net loss of $18.3 million.
Times Staff and Wire Reports
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