Times Mirror Co. completed its two-part sale of four broadcast television stations to Argyle Television Holdings Inc. The company said the second part of the deal consisted of the sale of CBS affiliates KDFW-TV in Dallas and KTBC-TV in Austin, Texas, to Argyle. The first part of the agreement, for the sale of KTVI-TV, an ABC affiliate in St. Louis, and WVTM-TV, an NBC affiliate in Birmingham, Ala., was completed in July.

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Viacom Inc. said it has entered an agreement to lease five transponders from PanAmSat L.P., expanding its satellite capacity. The company said that under the agreement, Viacom has taken pan-Pacific capacity on PAS-2; pan-Latin America transponders on PAS-3; and capacity on PAS-4 reaching India and the Middle East, as well as South Africa.

Paramount Interactive signed an agreement with Tachyon Inc. in which Tachyon will develop a multimedia software title from Paramount’s “Star Trek: Deep Space Nine” television show. Paramount Interactive is a unit of Paramount Communications Inc.

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Cox Cable will buy 200,000 digital set-top converters from General Instrument Corp. for about $ 40 million. The converter allows Cox to implement digital compression technology, the techno breakthrough that lets cablers transmit scores of channels.

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Chilton Research Services, a unit of Capital Cities/ABC Inc., said it has formed new industry specialty groups to provide clients with a broader range of marketing information services. The company said the specialty groups are health care, consumer products, business and industrial services, as well as the telecommunications, entertainment and computer groups.

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Alex. Brown & Sons Inc. removed shares of Time Warner Inc. from its “strong buy” list and lowered them to “buy,” according to a research contact at the firm. Alex. Brown analyst Drew Marcus says the downgrade reflects the disappointing holiday movie season.

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IDB Communications Group Inc. declared a 5% stock dividend and a 3-for-1 stock split. The company said it will combine the two events as a 3.15-to-1 stock split in the form of a stock dividend. IDB Communications said shareholders as of Jan. 31 will receive a stock certificate representing the additional shares on Feb. 28. The company last paid a 5% dividend in November 1992.

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