Financial Briefs

Pat Robertson’s Intl. Family Entertainment Inc. extended the expiration date of its tender offer for Nostalgia Network Inc. to midnight EST Jan. 5. IFE’s $ 2 -a-share cash bid for Nostalgia expired at midnight Dec. 22. As reported, Nostalgia has advised shareholders to not tender their shares, in part because IFE has suggested that it would bid as much as $ 3 a share, roughly $ 63 million , for Nostalgia under certain circumstances (Daily Variety, Dec. 4).

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Carmike Cinemas Inc. expects to open about 150 screens in 1994. The company also planned to open a seven-screen theater in Spartanburg, S.C., on Friday, pushing its total screens in the U.S. to 1,701.

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AMC Entertainment Inc. plans to raise roughly $ 100 million though a 4 million cumulative convertible preferred share offering. Proceeds will be used domestically and abroad to build, remodel and acquire theaters.

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Kranzco Realty Trust has signed a lease with American Multi-Cinema, a subsidiary of AMC Entertainment Inc., for a 15-plex motion picture theater to be built on an undeveloped 50,000-square-foot land parcel in Doylestown, Pa. The new theater, to be built by AMC Entertainment, will contain 15 screens. Construction is expected to begin in early 1994, subject to local government approval.

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Alias Research Inc. said YTV will purchase Alias PowerAnimator software for the creation of 3D digital imagery and special effects. Terms weren’t disclosed. YTV is a Canadian cable specialty network for Canadian youth.

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Alliance Entertainment Corp. said it signed a letter of intent to acquire Airlie Inc., a privately held company doing business as Abbey Road Distributors. Alliance said the acquisition would cost about $ 35 million in cash, common shares and notes. Abbey Road is a wholesale distributor of pre-recorded music.

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NTN Communications Inc. said it formed a new company, International Wagering Network. IWN will initially be a full-service provider/supplier of transaction application services to the gaming industry in North America. Under the terms of the license, NTN will loan IWN up to $ 500,000 on an “as needed” basis to fund the development of the IWN business plan.NTN is one of the nation’s largest providers of interactive TV services.

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