Financial Briefs

Carolco Pictures Inc. said since less than $ 2.7 million in aggregate principal of its 13% senior subordinated notes due 1996 was tendered, it will return all notes tendered to their holders. The company said, as of 5 p.m. Tuesday, $ 1,165,000 in principal had been tendered. The company said its offer to purchase the notes expired Dec. 24. The notes could have been withdrawn until 5 p.m. EST Tuesday. The company said since the amount of the notes tendered is less than $ 2.7 million, it won’t have enough credit to extinguish its obligation to purchase the notes.

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Turner Broadcasting System Inc. said it has paid about$ 255 million to increase its interest in HB Holding Co. to 100% from 50%. HB Holding, a joint venture between Turner and Apollo Investment Fund, was formed in 1991 to acquire the Hanna-Barbera animation library from the Great American Entertainment Co.

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New Vision Television paid $ 110 million for a group of eight network affiliated TV stations owned by New Press & Gazette Television. Three of the stations are in South Dakota, two in Mississippi and one each in Arizona, Georgia and North Carolina. New Vision is a new company in Atlanta, formed by former Act III Broadcasting, Taft Broadcasting and Clear Channel Communications exec Jason Elkin.

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Evergreen Media Corp. said it has completed the purchase of radio station WWBZ-FM in Chicago from Major Broadcasting Inc. for $ 29.6 million. Evergreen also said it has completed the sale of its two St. Louis stations, WKBQ-FM and KASP-FM, to Zimco Inc. for $ 7 million.

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Regal Communications Corp. said it projects income after taxes of over $ 4 million for its first quarter of fiscal 1994 ending Dec. 31. The company said the earnings are primarily the result of the recent acquisition of Inphomation Inc., an increase in sales of Joan Rivers jewelry products on the QVC Network, increases in retail sales of Regal products and improving economic conditions.

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Macintosh computer lovers who want a bigger screen now can view Mac programs on their TV sets. E-Machines, a division of SuperMac Technology Inc. of Sunnyvale, Calif., Wednesday introduced a color graphics card that allows users to connect most Apple Computer Inc. Macintoshes to a television. Called Simply TV, the card connects any Mac LC, Color Classic, most Performa models and the Quadra 605 directly to the TV with one video cable. It is designed for viewing computer compact discs, or CD-ROMs, corporate presentations and in-class educational software. The suggested retail price is $ 439. It is available immediately from computer superstores, mail order firms and other retailers, the company said.

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Great American Communications Co. said it has completed its financial restructuring. A joint prepackaged reorganization plan for Great American Communications and two of its holding company units closed, and Great American Television & Radio Co.’s bank credit facility and Great American Broadcasting Co.’s 13% senior subordinated notes were refinanced.

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