OTHER NEWS - April 22, 1995

Time Warner Speeds Reforms: Time Warner Inc. Friday named an investment banker to help lead its restructuring strategy as Chairman Gerald Levin’s campaign to cut debts and reshuffle businesses appears to be taking on added urgency. Fears that Seagram Co. may sell its 15% block of Time Warner stock to a hostile outsider has fueled talk that Levin will be forced to hasten the 18-month agenda for debt reduction and restructuring set out in February. Seagram, the liquor giant that recently agreed to buy 80% of MCA Inc. for $5.7 billion, said last week it is now considering selling its Time Warner stock.