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titles in order to enter the laboratories and facilities and
examine those physical materials.
VIII. Other Film Activities
In 1997, 1998, and 1999, SMHC (largely through the efforts
of Mr. Lerner, sometimes working with Michael Herz, the vice
president of Troma Entertainment, Inc.) investigated and acquired
a number of film titles and film libraries in addition to the
film library acquired in connection with the CDR transaction. A
June 16, 1999, memo that Mr. Lerner sent to Mr. Ackerman reported
on the film libraries that SMHC had acquired, summarizing the
“initial library and acquisitions”, the number of titles, and
their “Cost” as follows:
Library Number of Titles Cost
MGM (original) 80 $5,000,000
Wisdom 8 120,000
City Lights 15 115,000
Five Stones 5 75,000
Vista Street 24 470,000
Moving Picture Factory 33 320,000
Total 165
New Production Total 2 $615,000
Total 167 $6,715,000
The “Wisdom” library, which Crown Capital purchased in
November 1997 from Wisdom Entertainment, Ltd., contained eight
karate films. The “City Lights” library, purchased by Crown
Capital in September 1997 from Nevada Media Partners, Inc.,
contained 15 full-length feature films. The “Five Stones”
library, purchased by SMHC in October 1998 from Five Stones,
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