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MGM/UA shareholders bought 14% of new UA.

December 10, 1985

A spokesman for financier Kirk Kerkorian, who is buying United Artists on completion of the sale of its parent, MGM/UA Entertainment, to Turner Broadcasting, said MGM/UA public shareholders bought 7 million of 11 million United Artist shares offered at $9.18 each. Kerkorian will wind up with slightly more than 80% of United Artists after completion of a previously reported sale of another 2.5 million shares to Jerry Weintraub, the new United Artists chairman and chief executive.

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