Lorimar Telepictures said it has sold its...

Lorimar Telepictures said it has sold its children’s magazine publishing business to Donald E. Welsh, who has run the division since its founding in 1982, for an undisclosed price . . . Palco Acquisition, an investment group consisting of Hicks & Haas; Donaldson, Lufkin & Jenrette and James N. Mills, has announced an agreement to acquire Palco Industries from MXM Holdings of Houston for about $300 million.