Turner Broadcasting System announced the formation of...

Turner Broadcasting System announced the formation of a worldwide home video distribution division, to be part of the Turner Home Entertainment (THE) subsidiary. A colorized version of “King Kong” will be the first title released and will be available next year. “This expansion is natural with our broad range of product and international sales expertise,” said Jack Petrik, chairman of Turner Program Services and president of THE. “We plan to market a variety of movies and mini-series produced for our newest network, TNT, specials produced for TBS and original programs packaged by THE, as well as the (newly acquired) RKO library.”