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BRIEFLY

October 05, 1987

Chris-Craft Industries and its chairman, Herbert J. Siegel, said they failed in another effort to have Warner Communications raise its regular quarterly dividend to 12.5 cents from 10 cents. Chris-Craft, which owns a range of businesses from television broadcasting to plastics manufacturing, controls 17% of Warner's voting stock and Siegel and three other Chris-Craft representatives are on Warner's board. In a report to the Securities and Exchange Commission, Siegel said the Warner board voted 9 to 4 last week to defeat his proposal to raise the dividend. By the same margin, the board had defeated a Siegel effort last summer to return the dividend to its 1984 level, when it was 12.5 cents a share. Siegel said he intends to revive the proposal in the future.

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