Lorimar Telepictures, which has been discussing a...

Lorimar Telepictures, which has been discussing a possible business combination with Warner Communications, held a directors’ meeting in New York, but the company said it had no news to announce at the conclusion of the session. Wall Street sources, however, said the companies may be considering a stock swap if they can agree on a price. Lorimar apparently has not invited a rival bidder, wealthy oilman Marvin Davis, to examine the company’s books despite Davis’ conditional cash offer last week to acquire the company for $17 per share. The next regularly scheduled board meeting is set for June 22 in Los Angeles.