COMPANY TOWN

Securities: Comsat Corp., hoping to boost its market value by shaking its image as a stodgy utility, said Monday that it plans to sell a 20% stake in its entertainment group to the public. The company said it expects to sell about $80 million of stock, but it did not specify how many shares will be offered. Comsat is a longtime provider of global communications services via satellite. But in recent years the Bethesda, Md.-based concern has also built up its entertainment group, which accounts for nearly 20% of Comsat’s total revenue. The group includes the Denver Nuggets professional basketball team and the Colorado Avalanche hockey team; a service that provides on-demand video services to about 350,000 hotel rooms nationwide, and Beacon Communications Corp., a movie and TV production firm in Los Angeles.