Live to Acquire Hallmark Video Unit

Live Entertainment said it has agreed to take over Hallmark Entertainment’s home video business, which is expected to generate more than $45 million in revenue next year. Terms were not disclosed--both Live and Hallmark are privately held--but Tom Adams of Adams Media Research estimated the value of the transaction at about $20 million. Hallmark will remain a producer of filmed entertainment, with Live gaining video rights. Both companies are based in Los Angeles. Hallmark Home Entertainment executives Steve Beeks and Glenn Ross will join the staff of Live in January, and most of Hallmark’s other 40 or so employees will be laid off. Live Chief Executive Mark Curcio said the deal positions Live as “one of the strongest players in family entertainment, along with our own Family Home Entertainment banner.”