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Financial Briefs

LucasArts Entertainment Co. has signed an agreement with Irvine-based Interplay Prods. Inc. to bundle the company’s CD-ROM titles for sale to computer hardware companies. Lucas has produced three interactive CD titles, including “Indiana Jones and the Fate of Atlantis” and “Day of the Tentacle.”

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Tribune Co. posted a net income of $ 62.3 million (87 cents a share) for the second quarter ended June 30, up 38% from the $ 45 million (62 cents) reported in the same period last year. Revenue was off 7% to $ 517 million. The company said revenue for the broadcasting and entertainment segment was up 14.6% in June to $ 86.7 million, compared with last year. In addition, broadcasting and entertainment revenue rose 10.4% for the second quarter and increased 10.6% for the first half.

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Multimedia Inc. posted a net income of $ 18.3 million (48 cents a share) for the second quarter ended June 30, a 15.8% increase over the comparable quarter. Revenue was up 14.5% to $ 163.5 million compared with the same period last year. The company said improved earnings were at least partly due to increased revenue from TV talkers “Jerry Springer” and “Rush Limbaugh, the Television Show” and from three two-hour telepix.

Scripps Howard Broadcasting Co. agreed to sell its Memphis television and radio stations to Ellis Communications Inc. for $ 65 million. The sale includes WMC-TV and radio stations WMC-AM and WMC-FM. Because Scripps Howard controls a Memphis newspaper, the sale of the stations will alleviate cross-ownership in the market.

The Atlantic Group and Time Warner Trade Publishing divisions of Time Warner Inc. said they signed a joint venture to establish Time Warner AudioBooks. Lori Weintraub, executive VP of A-Vision Entertainment, Atlantic Group’s video division, has been appointed president and chief executive of the venture. Time Warner AudioBooks will release audio versions of titles published by Time Warner’s trade book companies as well as those from other publishers, and generate product lines such as an educational series. The first releases are scheduled for this fall.

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