COMPANY TOWN ANNEX
From Times Staff and Wire Reports
PolyGram Establishes Russian Beachhead: PolyGram has become the first Western record company to acquire a Russian subsidiary, with its agreement to buy the record and music publishing divisions of Biz Enterprises. Boris Zosimov, the founder of Biz, will remain on board and report to PolyGram’s European office. London-based PolyGram also has subsidiaries in Budapest and Prague. Biz is one of Russia’s leading media companies.
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