Lorimar Board Weighs Proposal
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Lorimar Telepictures directors were said to be meeting late Monday to consider a merger proposal made by Warner Communications over the weekend, industry sources said, but the outcome could not be learned.
The special session of the Lorimar board in New York came five weeks after the Culver City-based company first disclosed that it was approached by Warner to discuss a possible business combination.
Kenneth Lerer, an outside spokesman retained by Lorimar, declined to say whether in fact the board was meeting, and declined to say whether a press release would be forthcoming today.
The Warner proposal was made over the weekend, according to several sources.
Market analysts have expected the giant entertainment company to propose an exchange of stock, and perhaps to invest in a new company to be established by Lorimar Chairman and Chief Executive Merv Adelson.
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