Spotlight: Iwerks to Acquire Rival Showscan for Stock

Iwerks Entertainment Inc. of Burbank agreed to buy Culver City-based rival Showscan Entertainment Inc. for $27.4 million in stock. Both firms operate entertainment attractions that combine filmed elements with simulators designed to give the illusion of motion. Iwerks said the acquisition creates the world’s largest maker of such entertainment. Separately, Iwerks reported a fiscal fourth-quarter loss of $10.3 million, or 85 cents a share, compared with net income of $976,000, or 8 cents, a year ago.