Production Firm Feels Squeeze From O.J. Simpson TV Series

In what amounts to the first direct effect of the O.J. Simpson murder case on a corporate balance sheet, Hollywood film and TV producer Kushner-Locke Co. said Wednesday that it will report a $7.5-million write-down largely to devalue on its books a TV series starring the former football star.

The company, which expects to report a loss for the fourth quarter and fiscal year as a result, said about 60% of the write-down involves devaluing the pay cable series “1st & 10,” which originally aired on Home Box Office.

The series, in which Simpson played a coach, no longer airs on the cable network, but it had previously been sold to some stations through syndication. Simpson, who is charged with slaying his ex-wife, Nicole, and Ronald Goldman, also continues to hold a seat on Kushner-Locke’s board.

The write-off in effect says that the series is being put on the shelf and that Kushner-Locke does not know its future value given the uncertainty over the outcome of the Simpson trial. The remaining part of the write-off involves the company’s “Sweating Bullets” series, which formerly ran late at night on CBS.

The company said the non-cash charges do not reflect its current television and film projects. In addition to television shows, Kushner-Locke has been involved in producing films such as “Andre,” released earlier this year by Paramount Pictures.