Polygram Acquiring A&M;’s Real Estate: The Polygram...

Polygram Acquiring A&M;’s Real Estate: The Polygram unit of Dutch-based N. V. Philips said at a New York news conference that it has agreed to buy privately held A&M; Records for about $500 million. Polygram, which says it is the world’s third-largest music group, will acquire A&M;’s record operations plus its music video interests, its Los Angeles offices, including the former Charlie Chaplin film studios, and the A&M; recording studio. Earlier reports speculated that the real estate would not be included in the deal.