Lorimar-Telepictures
The merger of Lorimar-Telepictures was announced on October 7, 1985 by Merv Adelson. On April 21, 1986, the two companies merged. Lee Rich was one of the founders of Lorimar. In 1986, he sold his shares and left the company. On January 11, 1989, Warner Communications acquired Lorimar-Telepictures after a failed hostile takeover of the company.