MCA Spinoff Named: MCA Inc., which will...

MCA Spinoff Named: MCA Inc., which will spin off WWOR-TV to its shareholders as part of its sale to Matsushita Electric Industrial Co., has named the new company Pinelands Inc. MCA spokeswoman Christine Hanson said WWOR-TV stock could be available on the New York Stock Exchange as early as Monday. Matsushita’s $6.59-billion bid for MCA formally expires Saturday. The Japanese electronics firm has said it expects to close the deal by then. Entertainment company analysts have valued the WWOR-TV stock at $3 to $5 a share.