This article was corrected on November 19, 1992. There were several factual errors in yesterday’s story on the establishment of Lippin Wallace Ltd. in London.

Vivien Wallace will be managing director of the company; Lippin Group chairman/CEO Richard Lippin will also be chairman of Lippin Wallace. Among the Lippin Group’s domestic clients is the Walt Disney Studios. Although Wallace was head of Granada Television Intl., she had no involvement in such Granada productions as “Brideshead Revisited” or “Jewel in the Crown.”

The chief exec of London’s Granada Television Intl. is exiting to form a new company in partnership with L.A.-based showbiz PR firm the Lippin Group.

Vivien Wallace, who will stay with the British independent TV company through the end of the year, will be chairman and managing director of Lippin Wallace Ltd., a Lippin subsidiary.

The new company will provide a range of PR, marketing and consulting services to European and U.S. entertainment clients. Wallace will be a board member and a shareholder in the new venture. The company did not reveal Wallace’s stake.

Lippin Group topper RichardLippin said that initially he expects the new company to focus on existing Lippin clients, such as Walt Disney Co., MCA/Universal TV and, for the past four years, Granada TV. But the aim is to attract new accounts in the fast-growing European entertainment arena.

In recent years, there has been an explosion of new entertainment services in Europe as the trend to privatization has taken hold. Cable TV is also on the brink of rapid growth, particularly in the United Kingdom. The demise of the Soviet Union has also opened numerous programming opportunities.

Lippin said Wallace’s decision to leave Granada reflects her long-held desire to be part of an entrepreneurial venture. Wallace started her career at Granada–where she was the force behind “Brideshead Revisited” and “The Jewel in the Crown”–in 1979.

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