Hearst Buys TV Firm: Hearst Corp. said...

Hearst Buys TV Firm: Hearst Corp. said it has acquired Phoenix Entertainment Group, a television production company, to add to its broadcasting and video holdings. The price was not disclosed, but Hearst said Phoenix Co-Chairmen Gerald I. Isenberg and Gerald W. Abrams will continue to operate the Los Angeles-based firm. In three years since its founding, Phoenix has produced 20 movies for television and five miniseries, including “From the Dead of Night” and “Naked Lie,” which aired this week on competing networks. Hearst said the production company will be renamed King-Phoenix Entertainment Inc.