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September 17, 1993|From Times Staff and Wire Reports

American Movie Classics Sale Reported: Cablevision Systems Corp.'s Rainbow Programming Holdings unit has agreed to purchase Liberty Media Corp.'s 50% stake in the popular cable TV channel. The deal will give Rainbow 75% of American Movie Classics. "We're committed to the programming business and to this product, so there was really no question about whether we would buy," said James Dolan, Rainbow chief executive.

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