Lorimar Shares Top Amex List
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Lorimar-Telepictures was the most active issue traded Wednesday on the American Stock Exchange, closing at $20.25 a share, up $1, on a volume of 869,900 shares.
The entertainment company said it knew of no specific reason for the activity. Spokeswoman Barbara Brogliatti denied speculation in the entertainment industry that the company might be contemplating a breakup--just one year after the merger of Lorimar and Telepictures--because of internal friction.
“It’s ludicrous. It’s unequivocally untrue,” Brogliatti said.
Some of the trading activity was traced to rumors that Walt Disney Co. may be interested in acquiring the Culver City-based company. But a Disney spokesman said: “As a matter of policy, we don’t comment on such matters.”
Wednesday’s volume more than doubled the average of 372,200 shares traded daily during the last three months of 1986.
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