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Qintex Entertainment to Sell Virtually All of Its Assets
[Home Edition]
Los Angeles Times (pre-1997 Fulltext) - Los Angeles, Calif.
Author: Citron, Alan
Date: Jun 6, 1990
Start Page: 2
Section: Business; PART-D; Financial Desk
Abstract (Document Summary)

In the second deal, Qintex would sell its interest in HR Broadcasting Co. to ABRY Communications in Boston for more than $40 million. The transaction would return $23 million to Qintex after debts are paid. HR Broadcasting owns television stations WTTO in Birmingham, Ala., and WCGV in Milwaukee.

In conjunction with the Qintex announcement, it was disclosed that New Line Cinema Corp. and Chemical Banking Corp. plan to purchase an interest in RHI Entertainment. Chemical Bank will provide the bank loan to purchase the Qintex assets, and New Line will invest $7.5 million in the company.

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