Venture-Capital Firm May Buy Video Company

A New York venture-capital firm, Steinhardt Partners, has emerged as the high bidder for Burbank-based AME Inc., offering about $12 million for the video post-production company that is operating under the protection of bankruptcy court, according to published reports.

John Hyde, AME’s court-appointed trustee, said Monday that other bids topping the $12-million offer are still possible. An investor group paid $108.5 million to take AME private in 1989, mostly with leveraged or borrowed funds. AME filed for Chapter 11 last July, overwhelmed by its debt load.