OTHER NEWS - Aug. 2, 1991

Orion Creditors to Make Counter-Offer: Financially ailing Orion Pictures and a creditors committee jointly announced that the creditors are “formulating a restructuring proposal” that they plan to present to the company early next week. Orion, which faces more than $66 million in debt payments this month, had earlier proposed to swap $285 million in debt for new debt and stock. Many investors have called the offer unfair and proposed that majority shareholder John Kluge inject new cash into the company.