COMPANY TOWN ANNEX

Murdoch Seen Forming Alliance: Media tycoon Rupert Murdoch is expected to form an alliance with a major telecommunications firm in early 1994 despite the defeat of a plan to restructure his company’s stock to facilitate a buyout, analysts said. They said an alliance would allow Murdoch to link the entertainment and news warehouse of his News Corp. with a firm that could then widely distribute any future multimedia services. Likely candidates include AT&T; and Tele-Communications Inc.