A definitive merger agreement has been reached...

A definitive merger agreement has been reached between Hemdale Film Corp. and Computer Memories that would create a new company controlled by Hemdale, a Los Angeles company that produced the movies “Platoon” and “Hoosiers.” Computer Memories, in Chatsworth, is a one-time maker of computer disk drives. Its principal asset is $24.6 million in cash. Although Computer Memories technically is acquiring Hemdale, Hemdale will own 78% of the newly merged company. The deal, in effect, enables Hemdale to go public and gain access to Computer Memories’ cash without having to pay the fees or submit the government filings that would be required in an initial public stock offering.