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Deals

September 14, 1993|JAMES BATES

Mergers: In a deal orchestrated by video giant Blockbuster Entertainment Corp., Spelling Entertainment Group will acquire Republic Pictures Corp. for close to $100 million. Blockbuster, which now owns about two-thirds of Spelling and one-third of Republic, will finance the deal by injecting $100 million into Spelling in return for stock. Blockbuster will own 70.5% of the new company. Ft. Lauderdale, Fla.-based Blockbuster has been moving to diversify from its video rental business and into such areas as production. Spelling is best known for such shows as "Beverly Hills 90210" and "Melrose Place." Republic's library includes such classic films as "It's a Wonderful Life" and "High Noon."

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