Financial Briefs

E.W. Scripps Co. said it will launch a new home and garden cable television network in fall 1994. Home & Garden Television Network will be operated through its unit, Scripps Howard Broadcasting Co. The company also said the network’s subscriber base will be created through a collaboration of local television stations and cable systems.

RGB North America will distribute Image Organization releases in South Korea under a new output agreement. Deal includes completed thrillers “Deadbolt,” starring Justine Bateman and Adam Baldwin, and “The Neighbor,” with Linda Kozlowski and Rod Steiger.

Interfilm Inc., which plans to make interactive films it calls “cinematic games,” filed an initial offering of two million common shares with the Securities and Exchange Commission. The company expects an initial offering price between $ 9 and $ 11 a share. Interfilm said in the filing it changed its name from Ediflex Systems Inc. on Aug. 24 and that it has agreed to acquire Interfilm Technologies Inc. prior to the initial offering.

UBS Securities issued a “buy” rating on Viacom Inc. In a research summary, UBS said it considers Viacom a core long-term holding. The brokerage anticipates 30%-35% sustainable earnings growth driven by demand for MTV and Nickelodeon networks.

Image Entertainment Inc. of Chatsworth, which licenses and distributes programming on laserdisc, said it has voluntarily reduced its $ 15 million senior debt by $ 1.5 million.

Activision Inc., which develops and publishes interactiveentertainment software, said it has a new $ 6.5 million credit facility with Comerical Bank. Proceeds will be used for working capital, to issue letters of credit to purchase inventory and for general corporate purposes. The credit facility is secured primarily by receivables and inventory.

Sony Imagesoft and Sega of America Inc. signed an agreement under which Sony Imagesoft’s “Sewer Shark” software title will be packaged with the Sega CD hardware system. Terms were not disclosed.

Tyco Toys Inc. said it signed an agreement with Toy Biz Inc. to distribute Toy Biz’s X-Men line of action figures worldwide, excluding North America and Japan. The company said distribution will begin in January.

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