ENTERTAINMENT

Carolco Makes Changes: Carolco Pictures Inc. announced that it has retained New York investment bankers Allen & Co. as an adviser. Debts have forced Carolco to restructure, despite its success with “Terminator 2: Judgment Day.” Carolco Chairman Mario F. Kassar, noting the hiring of Allen & Co. and the continued participation of major investors such as France-based Le Studio Canal Plus, said his company will work “diligently to complete the reorganization plan.” Carolco also announced the appointment of a new chief financial officer, William A. Shpall. Shpall replaced Louis Weiss, whom Carolco said resigned.