MEDIA & ENTERTAINMENT

Hirschfield Acquires Stake in TVS Entertainment: Alan J. Hirschfield, a former chief executive of the Fox and Columbia studios who has recently made a career out of counseling troubled companies, said he has acquired a 5% stake in TVS Entertainment PLC, the British company that acquired MTM Entertainment in 1988 for about $320 million. TVS recently lost its bid for a renewal of its broadcasting license in the south of England, and its market value has tumbled. Hirschfield said he believes the company--particularly the MTM library--is undervalued.