OTHER NEWS - Dec. 10, 1992

Time Warner May Shed Assets to Reduce Debt: Time Warner Inc. plans to sell, swap or otherwise get rid of $3 billion in investments that do not produce income--or else turn them into cash generators--to reduce its huge debt load. The media conglomerate has not reached agreements to shed any of the investments, which include a 21% stake in Turner Broadcasting Systems Inc., Senior Vice President Geoffrey Holmes said at a PaineWebber media industry conference in New York. Time Warner could consider shedding investments in Black Entertainment Network, Whittle Communications, E! Entertainment Network, Six Flags Corp., QVC Network Inc. and Comedy Central, spokesman Ed Adler said. Time Warner has $16 billion in debt, much of it in high-interest bonds used to finance the $14-billion takeover of Warner Communications Inc. in 1990.