Spelling Entertainment Idles Sale Plans: Spelling Entertainment,...

Spelling Entertainment Idles Sale Plans: Spelling Entertainment, which announced Sept. 29 that it was exploring a sale to help reduce parent Great American Communications Co.’s debt load, said it did not find satisfactory any of the recent bids submitted to buy the company. Spelling is 46% owned by GACC, which in turn is controlled by Cincinnati investor Carl M. Lindner. GACC had put Spelling up for sale in order to pay off $125 million in reset notes due in October, but that debt is now being restructured. A senior Spelling executive did not rule out an eventual sale of the company if a buyer makes an attractive bid.