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Deals

March 17, 1995|CHUCK PHILIPS

Music: Time Warner Inc.'s directors, as expected, formally approved the acquisition of an additional 25% of Westwood-based Interscope Records--home to such acts as Snoop Doggy Dogg and Nine Inch Nails--for an undisclosed amount. Time Warner's Atlantic Group--which has owned 25% of Interscope since it was launched in 1991 at an estimated cost of $20 million--put a down payment on the second 25% share in late 1992 but had been dragging its feet on completing the purchase. Before this transaction, the price to acquire Interscope had been valued at $400 million. Time Warner is expected to complete its purchase of the remaining 50% by 1997.

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