MCA reportedly nears deal to purchase Hanna-Barbera, build Soviet movie theaters.
MCA reportedly nears deal to purchase Hanna-Barbera, build Soviet movie theaters
Two major film production companies may soon open multi-screen movie houses in the Soviet Union.
Universal City-based MCA Inc. and New York-based Paramount Communications Inc. say they may open
The announcement, made by United Cinemas International, a theater chain jointly owned by the entertainment majors, comes in the wake of a film boycott of the Soviet Union by the Motion Picture Association of America because Soviet government agencies had condoned the breach of piracy laws.
If the theaters are built, it would be several years before they would be ready for operation, said MCA spokeswoman Christine Hanson.
Hanna-Barbera Productions is on the auction block for between $400 million and $500 million, and MCA Inc. is close to buying it. An agreement could be wrapped up by the end of the summer, according to the Los Angeles Times.
The company has apparently been on the auction block for several months, and several companies have attempted to make takeover offers, including Walt Disney Co., Hallmark Cards Inc. and the French firm L'Oreal.
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