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SPELLING ENTERTAINMENT INC. MERGES WITH THE CHARTER COMPANY

 SPELLING ENTERTAINMENT INC. MERGES WITH THE CHARTER COMPANY
 CINCINNATI, July 30 /PRNewswire/ -- The Charter Company (NYSE: CHR) and Spelling Entertainment, Inc., a leading entertainment production and distribution company, announced the consummation of a merger of Spelling with a wholly-owned subsidiary of Charter. Spelling's stockholders overwhelmingly approved the previously announced merger at a special meeting of stockholders held today. Under the terms of the merger, Charter will issue one share of its common stock in exchange for each share of Spelling which it does not currently own. Letters of Transmittal will be sent to holders of Spelling common stock in the next several days with instructions for submitting Spelling certificates to be exchanged for Charter certificates.
 Spelling Entertainment's subsidiaries are engaged principally in the development, production and distribution of television series, movies for television and television mini-series. Through its Worldvision Enterprises subsidiary, the company engages in the worldwide television and home video distribution of television and feature film programming produced by the company and third parties. The company also distributes feature films to all media in the international market, produces feature films financed and distributed primarily by major studios and licenses music and merchandising rights associated with its television properties.
 -0- 7/30/92
 /CONTACT: Sandra W. Heimann of The Charter Company, 513-579-2482/
 (CHR) CO: The Charter Company; Spelling Entertainment, Inc. ST: Ohio IN: OIL ENT SU: TNM


BM -- CL027 -- 5303 07/30/92 17:05 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
Words:236
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