Graff PPV to buy equity in U.K.’s HVC

Graff Pay-Per-View Inc. signed a letter of intent to acquire an interest in HVC Ltd., a United Kingdom pay television programming firm.

Graff said the agreement will give it the exclusive right to acquire the remaining equity of HVC Ltd.

A spokesman for the company said completion of the transaction is expected by Dec. 31. Terms were not disclosed.

Graff owns and operates two satellite-delivered 24-hour-a-day television networks.

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