L.A. Firm in Deal for Film Distributor:...

L.A. Firm in Deal for Film Distributor: Management Co. Entertainment Group, Los Angeles, said it has signed a letter of intent to buy an independent international film-distribution firm owned by Virgin Group Ltd. of London for about $83 million. Management Co. Entertainment Group, which produces, markets and distributes motion pictures, said it will acquire Virgin Vision Ltd. for $55 million cash, $7.5 million in subordinated debt and 5,450,000 shares of MCEG common stock valued at $3.75 each. The deal would make Virgin Group the largest minority shareholder of MCEG.