Financial Briefs

Osborn Communications Corp. closed its rights offering for common shareholders July 2. The New York-based media company’s offering was oversubscribed. One transferable right was available for every two shares of common stock.

Each right was exercisable at $ 2.

* * *

The American Film Institute’s Advanced Technology Program will present the “Digital Video Shoot-Out,” comparing the latest computer video products, on Thursday at 7 p.m. at the AFI’s Mark Goodson Screening Room. “An Evening with Industrial Light & Magic” on Monday at 7 p.m., has been moved to the Academy Plaza Theater at 5230 Lankershim Blvd. in North Hollywood.

RHI Entertainment has completed the sale of $ 37.5 million of 6 1/2% convertible subordinated debentures due in 2003. The notes are convertible to common shares at $ 17.50 a piece. RHI shares closed at $ 14 on Wednesday.

LucasArts Entertainment Co. has renewed its contract with Baker & Taylor Affiliated Labels as exclusive distributor of entertainment disc-based software.

The family of Roger King, chairman of King World Prods., cut their position in the company to 23.6%. The family’s SEC filing said it sold 476,672 common shares of the company from April 21 to May 26 at prices ranging from $ 32.375 to $ 33.125 a share. The family now holds 9.11 million King World shares.

Broadcasting Partners Inc. of N.Y. filed for the initial offering of 3 million Class A common shares, expected to be priced between $ 12 an $ 14 a share. Broadcasting Partners said it operates four FM and two AM radio stations in New York, Chicago, Detroit and Dallas. The proceeds from the offering are intended to repay a term loan, to redeem principal and interest on notes and preferred stock and to reduce funds under the revolving portion of the senior credit facility.

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