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* Films: Samsung Corp. said it agreed...

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Times Wire Services

* Films: Samsung Corp. said it agreed to pay $60 million for a 7.4% stake in independent film production company New Regency Productions. Under the agreement, the Seoul-based electronics, chemical and finance company also obtained the rights to distribute New Regency’s films in South Korea. Burbank-based New Regency, which has a worldwide distribution agreement with Warner Bros., a unit of Time Warner Inc., has produced such films as “Heat,” “JFK” and “Pretty Woman.”

* Advertising: Sony Pictures Entertainment said it has formed a division to produce television commercials for advertising agencies worldwide. The division, which will be headed by Tracy Hauser, will be affiliated with New York-based Automatic, a wholly owned unit of Sony Music charged with developing and producing music videos. The move marks the first foray by Sony into advertising.

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