COMPANY TOWN ANNEX

Carolco Settles With IRS: The production company, which filed for Bankruptcy Court protection last fall, settled the tax claim for $6 million in cash. The agreement involves only the company’s problem with the IRS and does not affect individual disputes the agency has with former Carolco partners Mario Kassar and Andy Vajna. The government had been seeking $229 million in back taxes and penalties, mostly stemming from the company’s extensive use of offshore tax havens, but it agreed to a negotiated settlement, said Los Angeles bankruptcy lawyer Richard Wynne, who is working to recover funds for creditors. Separately, the film rights to author Anne Rice’s “The Mummy” were sold in Bankruptcy Court to Twentieth Century Fox. Both deals were approved by U.S. Bankruptcy Judge Lisa Hill Fenning. Carolco produced such big-budget hits as “Basic Instinct,” the “Rambo” series and “Terminator 2: Judgment Day.”