CST Entertainment Imaging Inc. said General Electric Pension Trust, a unit of General Electric Co., has sold 1,500,000 CST common shares, through its agent Whale Securities Co., New York, to institutional investors.
* * *Hachette Magazines Inc. and NBC-TV said they will form a joint venture to publish a national magazine for teens. In what Hachette, the U.S. magazine unit of Paris-based Hachette SA, billed as an unusual joint venture between “an entertainment media company” and a magazine publisher, the as-yet-unnamed magazine is scheduled to appear in September. The quarterly publication will initially have a newsstand-only circulation of 500,000 and a cover price of $ 1.95.
* * *Ventura Entertainment Group Ltd. completed its acquisition of Entertainment Marketing Corp. of America, formerly known as Artists & Entertainment Inc., in exchange for its Series A preferred shares. The firm said it acquired the television time contemplated in the letter of intent of the transaction in exchange for shares of its Series B preferred shares and a cash payment.
* * *Live Entertainment of Canada Inc. is in the process of filing with securities regulators in Canada a preliminary prospectus relating to a proposed initial public offering.
* * *Broadcast Intl. Inc. said it entered into a multiyear service agreement with Vons Cos. to provide satellite-delivered music, in-store advertising, and video conferencing to the grocery chain. Vons has about 350 stores. Broadcast Intl. said the contract would increase to nearly 5,100 the number of locations served by its Instore Satellite Network segment.
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