COMPANY TOWN

Film: The ending to the script about high-flying Carolco Pictures Inc. could be in for a rewrite. Sources said MCA Inc. is still considering submitting a bid for Carolco through Bankruptcy Court proceedings even though Carolco last Friday struck a tentative deal to sell substantially all of its assets to Twentieth Century Fox Film Corp. for $50 million. Also that day, Carolco filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. Sources said MCA remains interested but hasn’t decided on whether to submit a so-called overbid through the court. A bankruptcy judge must eventually approve any sale. Financially ailing Carolco produced such big-budget hits as “Terminator 2: Judgment Day,” “Total Recall” and “Basic Instinct,” as well as such bombs as “Chaplin.” A Carolco buyer would inherit the company’s library and sequel rights to a number of films. In addition to MCA, PolyGram has shown interest in buying a narrower slice of the company’s assets, but it is considered an outside shot to make a deal.