Pathe Agrees to Deal: Pathe Communications, formerly...

Pathe Agrees to Deal: Pathe Communications, formerly Cannon Group, agreed to turn over its rights to two motion pictures to 21st Century Film Corp., headed by Menahem Golan, former Cannon chairman, in lieu of providing $160 million of financing for future film production by Golan. The films in the deal are the completed “Mack the Knife” and “Phantom of the Opera,” which is in production. Separately, Pathe said it would not meet the deadline today for an interest payment to its bondholders. The company intends to make the payment within the 30-day grace period.