J2 Communications

J2 Communications, the owner of the National Lampoon trademark, said Chairman and Chief Executive James P. Jimirro will resign and sell his J2 stock to two shareholders who will gain control of the company. Jimirro, who has held the jobs since 1986, also will give up his seat on J2's board, the Los Angeles-based company said. Jimirro, a former Walt Disney Co. executive, will remain with J2 as a consultant. Under the agreement, Jimirro will sell his shares to Daniel S. Laikin and Paul Skjodt.

J2 Communications, the owner of the National Lampoon trademark, said Chairman and Chief Executive James P. Jimirro will resign and sell his J2 stock to two shareholders who will gain control of the company. Jimirro, who has held the jobs since 1986, also will give up his seat on J2's board, the Los Angeles-based company said. Jimirro, a former Walt Disney Co. executive, will remain with J2 as a consultant. Under the agreement, Jimirro will sell his shares to Daniel S. Laikin and Paul Skjodt.

"Dorf," a lovable buffoon played by comedian Tim Conway, has played golf, witnessed the first Olympic Games, and gone auto racing. Now Dorf is going to court. A production company is suing comedian Tim Conway, who plays the 4-foot-tall Derk Dorf character on videos, over the distribution of the tape "Dorf Goes Auto Racing." J2 Communications Inc.

National Lampoon Dispute Ends: J2 Communications and ITC Distribution have settled their lawsuits against each other related to the National Lampoon name and logo. ITC had tried to foreclose on the Lampoon trademark to recoup money it claimed J2 owed it for distributing ITC films on videocassettes after a contract ended. ITC has now dropped that claim to NL assets. In return, J2 agreed to stop distributing ITC films in the video market.

A Los Angeles judge ruled that the latest sports videotape featuring comedian Tim Conway's diminutive "Dorf" character can be shipped to stores despite a distributor's claim that it was unfairly cut out of the deal. Superior Court Judge Kurt J. Lewin ruled Tuesday that J2 Communications Inc. has the first right of refusal for distribution of "Dorf" videos only when they are produced by Longshot Enterprises Inc., of which Conway is the majority owner.

"Carol Burnett: My Personal Best." J2 Communications. $29.95. Different media create different expectations. During its 11-year run on CBS, "The Carol Burnett Show" always managed to come up with one or two comedy sketches each week that were far funnier than 90% of the sitcoms on the air. Now Burnett has packaged some of her favorites on two 60-minute cassettes for the home video market.

National Lampoon Inc., the magazine publisher and movie producer, has agreed to be acquired by J2 Communications in a stock swap valued at approximately $4.67 million, the companies announced today. J2, a home video producer and distributor, will exchange two-thirds of a share of its common stock plus a warrant expected to be worth $1 for each share of National Lampoon stock, the companies said in a statement.

"Elton John Live in Australia." J2 Communications. $29.95. Reaching deep into his repertoire during this 1986 performance with the Melbourne Symphony Orchestra, Elton revives several infrequently played songs such as "The King Must Die," "I Need You to Turn To" and "60 Years On." But these expanded arrangements merely add sonic density, not new texture or insight, to the taut original versions.