Fries Entertainment Inc.: The Hollywood firm, which...

Fries Entertainment Inc.: The Hollywood firm, which makes movies for the television, theatrical and home video markets, posted a net loss of $2.4 million for fiscal 1989, contrasted with a profit of $56,000 in the previous year. Revenue totaled $34.8 million, down 22%. For the fourth quarter, earnings rose 67% to $1.4 million, including a $2.4-million net gain on the repurchase of a portion of the company’s subordinated debentures. Revenue totaled $10.4 million, off 45%. The results were attributed, in part, to continued weakness in the domestic syndication market.