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MOVIES - Oct. 26, 1989

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<i> Arts and entertainment reports from The Times, national and international news services and the nation's press</i>

The 1925 film version of “Phantom of the Opera” starring Lon Chaney is headed for a new life. Spectacular Films, an American company based in London, has restored and tinted the 64-year-old movie, and music dubbing should be completed in the next few weeks. A spokesman for the company says this “Phantom” is geared for the cable TV and home video markets, with a “possibility” of theatrical release.

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