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Deals

March 04, 1994

* Television: Germany's Bertelsmann is linking with France's Canal Plus in a joint venture to develop internationally "non-advertising-financed" television such as pay TV, pay-per-view and video-on-demand services. Bertelsmann Chief Executive Mark Woessner and Canal Plus Chief Executive Pierre Lescure signed the letter of intent in Paris earlier this week. The venture will operate in Europe and is expected to be launched before summer. Each company will hold a one-half stake. "In this way we ensure development possibilities of our companies in an important sector of future electronic media," the companies said in a joint statement. No figures were provided on how much each company is investing. . . . The simultaneous sale of giant-screen theater developer Imax Corp. and Trumbull Co. to WGIM Acquisition Corp. has been completed. WGIM is made up of Bradley Wechsler and Richard Gelfond of Cheviot Capital Advisers, filmmaker Douglas Trumbull and investment bank Wasserstein Perella Partners.

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