Financial Briefs

First-quarter earnings for King World Prods. Inc. were flat and revenues rose modestly as the distribbery paid higher participation fees on “The Oprah Winfrey Show” and had to cover production, advertising and promotion costs on “American Journal” and “The Les Brown Show,” two new programs. For the quarter ended Nov. 30, King World earned $ 38.7 million ($ 1.02) compared with $ 38.5 million (98 cents) a year ago. Revenue was $ 193 million.

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Pat Robertson’s Intl. Family Entertainment Inc. extended its tender offer for Nostalgia Network Inc. a second time to Jan. 12. Nostalgia has encouraged shareholders to reject the offer, at $ 2 a share, since IFE said last month that it would consider raising the offer to $ 3 a share or roughly $ 63 million.

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Crystal Dynamics, the entertainment software company headed by former 20th Century Fox prexy Strauss Zelnick, inked a development pact with Sega of America to create new games together. The duo will develop titles for several Sega game systems, including the Saturn, a powerful platform to be introduced late this year.

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Heritage Media Corp. completed the acquisition of its third Milwaukee radio station, WEZW-FM, from Multimedia Broadcasting Co. Terms weren’t disclosed.

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Omni Films Intl. Inc. said it has received an order from Granada Theme Parks valued at about $ 1.1 million for installation of a Motion Master motion simulator at the American Adventure Theme Park in Derbyshire, U.K. A company spokesman set shipment for February. The company said that with the order, its contracts scheduled for delivery in 1994 exceed $ 7.4 million, excluding additional 1994 contractual guarantees and film-licensing revenues.

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Time Inc. chose Ikonic Interactive Inc. of San Francisco to design the software and user interface for the interactive, video news-on-demand service for Time’s Full Service interactive multimedia cable network. The service will be first offered in Orlando, Fla., later this year.

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Interactive Network Inc. formed a new multimedia division to apply its systems software to the home computer, video, and multimedia game market. The company said the division will also develop additional ways to incorporate its technology in cable boxes and other hardware platforms.

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