TIME WARNER, NICHII PLAN THEATERS

Time Warner Inc. and Japan's Nichii Comany have agreed to form a joint venture to build the first state-of-the-art multiplex movie theaters in Japan. The theaters will be similar to ones built by Warner Bros. International Theaters in Europe and Australia. Each multiplex will contain from six to 12 screens, with seating capacity ranging from 2,500 to 3,500.