Cap Cities to buy broadcast interestCapital Cities-ABC...


November 17, 1993

Cap Cities to buy broadcast interest

Capital Cities-ABC Inc. has agreed to buy a 16 percent stake in Scandinavian Broadcasting System SA and may increase its interest to 25 percent, the companies announced.

The owner of the ABC television network and a range of other media properties said yesterday that it had agreed to buy 1.6 million shares of Scandinavian Broadcasting stock from existing shareholders. Terms of the deal were not disclosed, but it was believed to be worth $20 million to $25 million.

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