Live Entertainment to Sell Interest in VCL / Carolco
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Live Entertainment Inc., a Van Nuys-based distributor of home videos and other entertainment products, said it has agreed to sell its 81% interest in VCL / Carolco Communications of Germany to Datty Ruth, managing director of VCL.
Ruth, who formed VCL in 1981, already holds the remaining 19% interest in the German video distribution company. Financial terms of the sale were not disclosed, and Live Entertainment said the transaction is expected to be completed later this year.
Steve Mangel, executive vice president of Live’s international operations, said Live “will now begin to license Live’s film properties in Germany on a non-exclusive basis.”
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