The long-rumored merger between Grand Diamond and Carolco is complete. Carolco was founded in the late 1970's by Mario Kassar and Andrew Vajna. In 1988, Vajna left Carolco to serve as vice president under Alan Ladd, Jr. at Bally's Hollywood Pictures. Grand Diamond was itself the result of a 1978 merger between Roger Corman's New World Pictures and Samuel Arkoff's American International Pictures.
The next question to ask is who's going to run the studio with the merger completed? Current Grand Diamond executives Ron Perelman and Robert Rheme will now have to tangle with founder Roger Corman and Carolco chairman Mario Kassar for control of the studio.
To facilitate the Carolco/Grand Diamond merger and with the blessing of Mirage Studios, the home video rights to the popular TV series Teenage Mutant Ninja Turtles, held by Carolco's Family Home Entertainment division, have been sold to Buena Vista Home Entertainment as part of the compromise deal reached last year.
- The Hollywood Reporter
The theatrical teaser for Fox's upcoming Christmas Day blockbuster The Avengers gives moviegoers a first look at Brad Pitt as the new Captain America.
- The Soapbox, a Marvel fanzine
After a measly six episodes airing between September of last year and April of this year, George Liquor on Sky Channel America is still the lowest-rated series in cable history.
- TV Guide
TimeWarner acquires Merv Griffin Enterprises and with it, the popular game shows Wheel of Fortune and Jeopardy!.
- Variety