CALIFORNIA : SOUTHLAND FOCUS : E4L to Acquire Flageoli for $60 Million

E4L Inc., an infomercial and electronic-commerce marketer, agreed to buy closely held Flageoli Ltd. of Los Angeles for $60 million in cash and stock to add skin-care and cosmetics brands to its product line. Encino-based E4L will pay $30 million in cash and about $30 million in Series G convertible preferred stock to Flageoli’s three partners, who include Jennifer Flavin-Stallone, wife of actor Sylvester Stallone. E4L, formerly called National Media Corp., is adding Flageoli’s line of skin-care products, which is one of the top three lines in sales on USA Networks Inc.’s cable Home Shopping Network. E4L said it wants the products to help reverse years of losses and become the center of a new e-commerce initiative. E4L has posted losses in four of its last five fiscal years, including a $43.6-million net loss in fiscal 1999. In April, the company agreed to pay $100,000 to settle a claim for violating a 1993 agreement with the Federal Trade Commission barring it from making deceptive commercials.