CANNON <CAN> SELLS STAKE IN HBO/CANNON VENTURE
Cannon Group Inc said it agreed in
principle to sell its 50 pct interest in the HBO/Cannon Video
joint venture to the Home Box Office unit of Time Inc <TL>.
    The company said it is making the sale because in the near
future all of its video products will be licensed in the United
States and Canada to either the Warner Brothers unit of Warner
Communications Inc <WCI>, or to Media Home Entertainment.
 Reuter
