Carolco Sells 5% of Shares to French...

Carolco Sells 5% of Shares to French Firm: Carolco Pictures Inc., an independent production company best known for the “Rambo” films, has agreed to sell 5% of its stock to Canal Plus of France for about $30 million. A Canal Plus subsidiary will buy a new series of Carolco preferred stock, convertible into common stock, at $18.50 a share. Canal Plus, a major European communications company, will also receive a warrant to purchase another 150,000 common shares. Under the agreement, the two companies will collaborate on future film projects, and a Canal Plus representative will join the Carolco board.