Harvey Comics Entertainment, whose characters include hot movie properties such as Casper the Friendly Ghost and Richie Rich, more than doubled its losses in the fourth quarter as revenue fell 26%. For the quarter, Harvey lost $ 271, 000 (8 cents), compared to a loss of $ 102,000 (5 cents) in the like period a year ago. Revenue was $ 1.2 million, down from $ 1.6 million. For the year, Harvey lost $ 696,000 (27 cents), compared to a loss of $ 429,000 (20 cents) in 1992. Revenue was $ 4.5 million, down from $ 4.9 million.
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Clear Channel Communications Inc. said it has closed its previously reported purchase of WAXY-FM in Miami from Ackerley Communications Inc. for about $ 14 million in cash. The radio station is currently under a local marketing agreement with WHYI-FM in Miami, owned by Metroplex Communications. Clear Channel has entered into a merger agreement with Metroplex, which is currently subject to Federal Communications Commission approval.
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Paramount Publishing, a unit of Paramount Communications Inc., said it entered a co-publishing agreement with Impress Group of Japan. Paramount said in a press release that under the agreement, its Prentice Hall Japan unit and Impress will translate Prentice Hall Computer Publishing titles for the Japanese market. The companies said they will share development and production costs as well as profits from the translated titles. Impress will be responsible for translation, sales, marketing and distribution. Par will retain all copyrights.
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Unapix Ent. Inc. said it expects 1994 first-quarter gross sales to match or exceed gross sales for 1993. In a press release, the company also said it completed its private placement of a new series of preferred stock. The number of preferred shares was not available. In a press release, the company said proceeds from the placement were about $ 2 million, about $ 300,000 of which came from the company’s officers. Unapix said it will use the money for product acquisition and marketing for expansion.