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BRIEFLY

October 03, 1987

Heritage Entertainment said it has received a $31.1-million unsolicited takeover bid from Today Home Entertainment of Los Angeles. At the same time, Heritage said, a separate unsolicited takeover offer by Odyssey Film Partners Ltd. was withdrawn. The Odyssey offer called for buying Heritage by issuing new preferred stock with an unspecified value. The offer from Today calls for paying $3 in cash plus $3.50 in preferred stock for each of Heritage's 4.79 million shares. It is being studied by Heritage's directors. Los Angeles-based Heritage is a small producer and distributor of television programs and feature films.

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