Studios: Brothers Ridley and Tony Scott, two of Hollywood’s top directors, are leading an investment group that is buying the historic Shepperton Studios in London from Lee International, subject to financial reviews of the transaction. Ridley Scott’s films include “Alien” and “Blade Runner,” and Tony Scott’s include “Top Gun” and “Beverly Hills Cop II.” Shepperton, founded in 1936, has been the shooting site for such films as “Four Weddings and a Funeral” and “Judge Dredd.” InterMedia/Film Equities Inc. of Beverly Hills advised the Scotts and the investment group. Guinness Mahon & Co. will underwrite the transaction.
* Television: Capital Cities/ABC Inc. said it will invest $25 million in Young Broadcasting Inc. Cap Cities, owner of the ABC television network, will receive non-voting stock and warrants to purchase stock in closely held Young. It also signed a 10-year affiliation agreement with Young, which owns two ABC affiliates, in Nashville, Tenn., and Albany, N.Y., and is about to buy three more ABC stations in Richmond, Va.; Knoxville, Tenn., and Green Bay, Wis.