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BRIEFLY

March 12, 1987

Los Angeles-based New World Pictures Ltd. reported a recognized investment gain of $17.8 million on the sale of 456,900 shares, representing 4.98%, of Taft Broadcasting Co.'s outstanding common stock . . . Gull Air, which flies to about 20 cities in the Northeast, Florida and the Bahamas, suspended operations indefinitely and filed for protection under Chapter 11 of the federal bankruptcy codes.

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