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K-L writedown ups losses

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Kushner-Locke Co. posted a tenfold increase in fourth-quarter losses as the company wrote down the value of its library. At the same time, revenue tripled from new network skeins and a miniseries.

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Financial Briefs

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Granite Broadcasting Corp. completed its investment in certain outstanding secured debt and equity securities of Queen City III Limited Partnership, the parent of WKBW-TV, in Buffalo, N.Y. Granite…

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Basinger files for Chapter 7

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Attorneys for Kim Basinger filed papers Monday that will convert her bankruptcy petition from Chapter 11 to Chapter 7, possibly depriving creditor Main Line Pictures of several million dollars.

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Financial Briefs

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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…

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