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All American in Talks to Sell Company

September 16, 1997|Bloomberg News

All American Communications Inc. said it is in preliminary talks to sell the company, whose television shows such as "Baywatch" could be attractive to a number of production companies, analysts said. All American, which also produces "The Price Is Right" game show, didn't identify the other parties in the talks. The company could fetch about $350 million, or about $28 a share, in a sale, said analyst Art Rockwell of Yaeger Capital Markets. The television and music producer has been benefiting from rising revenue from its TV operations in the U.S. and abroad. Its stock has jumped about two-thirds since the beginning of the year. Shares of Santa Monica-based All American slipped 13 cents to $22.50 on Nasdaq, after trading as high as $25.25.

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