ENTERTAINMENT

Philips Electronics Buys Stake in Whittle: Whittle Communications, the Knoxville, Tenn.-based media company, said it had agreed to sell a 25% equity stake for $175 million to the Dutch electronics firm. Philips also gets an option to boost its stake to 33% in two years for a price tied to Whittle’s earnings performance. Philips is also investing an undisclosed amount in research for a network of schools Whittle plans. One source familiar with the talks but speaking on condition of anonymity said those parts of the deal boost its total value to about $300 million.