Independent Entertainment to Acquire Coral: Los Angeles-based...

Independent Entertainment to Acquire Coral: Los Angeles-based Independent Entertainment Group announced a definitive agreement to buy Coral Inc. and its major operating subsidiary, System 800, for more than $12 million. Coral, whose System 800 subsidiary has filed for Chapter 11 bankruptcy protection, provides credit-card processing technology to the pay-per-view television business. Independent is involved in pay-per-view, video music programming and motion picture development.