PETER GUBER'S MANDALAY FORMS MANDALAY SPORTS ENTERPRISES

          Film producers Peter Guber and Paul Schaeffer, owners
     of the Mandalay Group, have joined with Triple-A Las Vegas
     Stars/IHL Thunder Owner Hank Stickney and Single-A Lake
     Elsinor Storm Owner Ken Stickney to form Mandalay Sports
     Enterprises.  Mandalay Sports will own the Stars, the Storm,
     and the Thunder, and will announce in early '97 its
     strategic plan and the appointment of a major sports exec as
     President & COO of the L.A.-based venture (Stars).  Although
     no financial details were disclosed, HOLLYWOOD REPORTER puts
     Mandalay's investment "in the region" of $10M to acquire the
     three teams.  The acquisition has been funded internally by
     Mandalay.  Aside from its investments in Mandalay, Sony
     Pictures Entertainment has no involvement in the new
     venture.  Ken Stickney will continue day-to-day operations
     of the teams, and although the venture will concentrate on
     the minor leagues, Stickney didn't rule out buying major
     league teams in the future (HOLLYWOOD REPORTER, 12/17).