A $ 1 billion issue of Time Warner Entertainment L.P. senior notes, due July 15, 2033, was priced as 8 3/8 at 99.392 to yield 8.428%, according to MCM CorporateWatch. The non-callable private-placement issue was priced at a spread of 1.80 percentage points above the Treasury 30-year bond and is rated triple-B-minus by Standard & Poor’s Corp.
Shop Television Network Inc. said it will receive $ 8.8 million in payment as a result of settling litigation with J.C. Penney divisions and QVC.
Nostalgia Network Inc. said it has received a letter from Excellerated Learning Institute expressing its intention of purchase a majority position. Excellerated Learning’s stated intent is to acquire “all the outstanding stock available, but no less than 60%, for a price of $ 2.50 per share.”