Financial Briefs

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.

* * *

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.

* * *

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.

* * *

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.

* * *

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.

* * *

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.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety