ENTERTAINMENT

Time Warner in New Talks: Time Warner Inc., which is seeking a European business partner to invest $1 billion or more in the company, has held serious discussions with a French-Canadian industrialist and a Belgian financier, according to the Wall Street Journal. The talks, said to have recently bogged down, involve Paul Desmarais Sr., the chairman of Montreal-based Power Corp. of Canada, and Albert Frere, chairman of a Brussels-based holding company. Under the terms being discussed, the principals would invest $1 billion, with as much as $1 billion more coming from other members of a European consortium.