The company also announced during the quarter that it had signed a letter of intent to sell its plant in Puyallup, Wash., to the Matsushita Electric Industrial Company of Japan.
The Matsushita Electric Industrial Company of Japan said it would build a $40 million battery plant here.
For the seventh consecutive quarter, the Matsushita Electric Industrial Company of Japan reported a decline in profit.
Two weeks ago Electronic Engineering Times, a trade paper, reported that the Matsushita Electric Industrial Company of Japan was examining the technology and considering an investment.
Earlier this year, he showed an interest in buying MCA Inc., the parent company of Universal Pictures, from the Matsushita Electric Industrial Company of Japan.
The sale would enable Seagram to pursue its plan of acquiring MCA from the Matsushita Electric Industrial Company of Japan.
MCA, which is owned by the Matsushita Electric Industrial Company of Japan, is expected to take a similar loss from its half share of the channel.
Since 1987, Winterland has been wholly owned by MCA Inc., which recently was bought by the Matsushita Electric Industrial Company of Japan.
MCA, the entertainment conglomerate, was recently acquired by the Matsushita Electric Industrial Company of Japan.
