Act III Broadcasting said it acquired a...

Act III Broadcasting said it acquired a fifth television station, WZTV-TV Channel 17 in Nashville, Tenn., and the stock of Multimedia Entertainment Co. of Tennessee, producer of country television specials, for undisclosed terms. Act III said it has secured $100 million in bank financing and $55 million in subordinated debt and equity and expects to acquire three more stations by year’s end. Longtime television producer Norman Lear, who founded the company in 1986, remains the controlling shareholder. Both WZTV and Multimedia Entertainment were formerly owned by Multimedia Inc. of Greenville, S.C.