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SPELLING ENTERTAINMENT COMPLETES SALE OF SHARES TO BLOCKBUSTER

    Fort Lauderdale, Fla., Oct. 5 /PRNewswire/ -- Spelling Entertainment Group Inc. (NYSE: SP) announced today that pursuant to an agreement announced on September 17, 1993, the company completed its sale of approximately 13.4 million newly issued shares to Blockbuster Entertainment Corporation (NYSE: SP).  At its election, Blockbuster delivered approximately 3.6 million shares of its common stock in exchange for the Spelling common shares.
    The company intends to use the liquidity provided by the issuance of its shares to Blockbuster to finance the company's previously announced merger with Republic Pictures Corporation.  The issuance of such shares to Blockbuster increased its investment in the company to approximately 70.5 percent of its outstanding common stock.
    -0-                          10/5/93
    /CONTACT: Gregory K. Fairbanks of Blockbuster Entertainment Corp., 305-832-3000/
    (SP BV)


CO: Blockbuster Entertainment Corp.; Spelling Entertainment Group Inc. ST: Florida Florida, state, United States
Florida (flôr`ĭdə, flŏr`–), state in the extreme SE United States. A long, low peninsula between the Atlantic Ocean (E) and the Gulf of Mexico (W), Florida is bordered by Georgia and
 IN: ENT ENT ears, nose, and throat (otorhinolaryngology).

ENT
abbr.
ear, nose, and throat



ENT

ear, nose and throat.

ENT Ears, nose & throat; formally, otorhinolaryngology
 SU:

RK-JV -- FL012 -- 9108 10/05/93 18:01 EDT EDT
abbr.
Eastern Daylight Time


EDT Eastern Daylight Time

EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York

EDT 
 
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 5, 1993
Words:151
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