Tele-Communications Inc., which partnered with Acclaim Entertainment in 1995, has sold its 4.3 million shares in Acclaim, it was announced Thursday.
The 1995 partnership was to see Acclaim create content for TCI's interactive network. That deal included an exchange of stock between Acclaim and TCI. But, last year, Acclaim refocused its business on its entertainment software business and the partnership ceased. Acclaim sold its holdings in TCI in December of 1996.
In a separate transaction, Acclaim officers, directors, and employees purchased in the neighborhood of 330,000 shares of Acclaim's common stock, a move that Gregory Fischbach, Acclaim cochairman and chief executive officer, said "confirms previously stated commitment to the company and itslong-term growth."
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