United Artists Communications Inc. announced that it...

United Artists Communications Inc. announced that it has formed Corsair Pictures, a new motion picture company based in New York. Denver-based United Artists said Corsair will develop high-quality films with budgets of $3 million to $10 million each. The company, to be privately financed by United Artists, will be headed by Frank Perry, a film producer and director who won an Academy Award nomination for best director for “David and Lisa.” Last week, United Artists and United Cable Television Corp. agreed to combine their operations into a $3.8-billion concern that would rank as one of the nation’s biggest cable TV companies.