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SPELLING ENTERTAINMENT GROUP INC. ANNOUNCES SHARE REPURCHASE

 CINCINNATI, Nov. 19 ~PRNewswire~ -- Spelling Entertainment Group Inc. (NYSE: SP) announced today that it has purchased approximately 470,000 shares of its common stock in recent weeks under its previously authorized stock repurchase program. The program was initiated in 1987 to allow the company to buy back up to 4 million shares of its stock at times when management deems the price to be attractive. Since the program's inception, the company has purchased more than 2.6 million shares and may buy back additional shares depending on current market conditions.
 Spelling is a leading distributor and producer of filmed entertainment. The company distributes television programs and feature films worldwide for television, cable and home video exhibition and holds a library in excess of 12,000 hours. The company is also engaged in the development and production of television series, mini-series, movies for television and feature films. Current network programming includes "Beverly Hills, 90210" and Melrose Place" on the Fox Broadcasting Network. Spelling also distributes theatrical motion pictures to various media in the international market, produces feature films financed and distributed primarily by other studios and licenses music and merchandising rights associated with its television properties.
 Spelling Entertainment Group's common stock trades on the New York and Pacific Stock Exchanges under the symbol "SP."
 -0- 11~19~92
 ~CONTACT: Sandra W. Heimann of Spelling Entertainment Group Inc., 513-579-2482~
 (SP)


CO: Spelling Entertainment Group Inc. ST: Ohio IN: ENT SU:

DA -- CL020 -- 3137 11~19~92 17:16 EST
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Publication:PR Newswire
Date:Nov 19, 1992
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