Court OKs Live’s Vestron Takeover: A New...
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From Times Staff and Wire Reports
Court OKs Live’s Vestron Takeover: A New York bankruptcy court has approved Live Entertainment Inc.’s plan to buy the assets and liabilities of Vestron Inc. Live can now release 10 Vestron films and use its library of features and special-interest tapes. Vestron debt holders will be offered $6 million cash, $21 million in Live preferred stock and rights to Live common stock. Vestron, a home video company, collapsed last year after a string of disastrous releases.
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