Thorn EMI Bids for British TV Firm:...

Thorn EMI Bids for British TV Firm: Thorn-EMI PLC proposed to buy Britain’s largest independent TV contracting company, Thames Television, is a deal valued at $297 million. Thorn EMI, the entertainment giant best known as the parent of the EMI recording label, already owns 28% of Thames. The Thames franchise, which covers London, controls a 15% share of advertising revenue among the 15 British independent TV companies. Thames also owns Reeves Entertainment, a New York-based TV producer.