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Gencorp, MCA Deny Station Price Cut Talks

February 03, 1987|KATHRYN HARRIS | Times Staff Writer

Despite industry speculation, GenCorp and MCA said Monday that they're not discussing a reduction in the price of GenCorp's WOR-TV, the New Jersey television station that MCA agreed last year to acquire for $387 million.

One published report said MCA might seek a lower price because of a slump in national advertising and other problems besetting independent TV stations.

"If they are, we'd like to get some communication from them," said Joseph Leyden, assistant to GenCorp President A. William Reynolds. Reynolds, he said, "has not received that kind of communication from MCA."

MCA President Sidney J. Sheinberg agreed: "We've had no conversation with GenCorp about price reductions this year."

The delay in completing the deal has been blamed on proceedings at the Federal Communications Commission and appeals.

Sources said MCA might seek a "package" deal by offering to acquire a second GenCorp station, KHJ-TV Channel 9 in Los Angeles. The station became available last week after Westinghouse Electric abandoned its $313-million bid, citing lengthy licensing procedures.

"It should be rather obvious that we have a great interest in acquiring KHJ but . . . no conversations have yet been held with GenCorp to enter into arrangements that might cover such (an) acquisition," Sheinberg said.

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