International Multifoods reported that it sold its Cerritos-based All American Nut unit to a subsidiary of MEI Corp. of Minneapolis. Terms of the sale were not disclosed . . . Taft Broadcasting reported that the FCC has approved an application for Taft’s wholly owned Taft Television & Radio subsidiary to purchase five television stations and four radio stations from Gulf Broadcast . . . Moody’s said it is reviewing the debt rating of Wang Laboratories and Wang Credit Corp., the firm’s finance subsidiary, for possible downgrading . . . The American Iron and Steel Institute reported that steel production fell to 1.749 million tons in the week ended June 1, a decrease of 3.5% from the previous week.