Milken Buys Into Multimedia Craze
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Michael Milken, whose wheeling and dealing epitomized the financial climate of the 1980s, is carrying out plans to be in on the ‘90s multimedia craze.
He’s invested in 7th Level, a Burbank start-up headed by computer graphics whiz George Grayson. Merv Adelson, co-founder of the former Lorimar Inc., is also backing the company, whose first product is an interactive cartoon starring a teddy bear named Howie, due out in January on CD-ROM.
Since announcing in March that he was forming a multimedia company, Milken has reviewed plans of more than 300 companies hoping to do business with him.
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