SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 24, 1997
CINERGI PICTURES ENTERTAINMENT INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-23958 95-4247952
(State or other (Commission (I.R.S. Employer
jurisdiction of Incorporation) File Number) Identification No.)
2308 BROADWAY, SANTA MONICA, CA 90404
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (310) 315-6000
N/A
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
On June 24, 1997, Cinergi Pictures Entertainment Inc. (the "Company")
announced that (i) it has instructed the Company's financial advisor, Jefferson
Capital Group, Ltd., to solicit cash bids from qualified buyers for the purchase
of the Company's slate of approximately twenty wholly-owned development
projects, (ii) it has received an initial bid for the development projects from
Andrew G. Vajna, Chairman of the Board of Directors and Chief Executive Officer
of the Company, (iii) it is in discussions with Twentieth Century Fox regarding
the sale to Twentieth Century Fox of the Company's rights in the film DIE HARD
WITH A VENGEANCE, and (iv) it has commenced negotiations, through a Special
Committee of the Company's Board of Directors, with Mr. Vajna with respect to a
potential merger with an entity controlled by Mr. Vajna that would occur after
the sale of substantially all of the assets of the Company. Additional
information regarding such announcement is contained in the press release filed
herewith as Exhibit 99.1 which is incorporated herein by this reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits.
The Exhibits listed below are filed as part of this Report.
Exhibit No. Description of Exhibit
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99.1 Press Release issued on June 24, 1997.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CINERGI PICTURES ENTERTAINMENT INC.
Date: June 24, 1997 By: /s/ Warren Braverman
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Name: Warren Braverman
Title: Chief Operating Officer, Chief
Financial Officer and Executive
Vice President
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION OF EXHIBIT
99.1 Press Release issued on June 24, 1997.
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