STRONACH EXPANDS SPORTS EMPIRE WITH EUROPEAN CHANNEL

          Magna Int'l (MI) Chair Frank Stronach "is setting up a
     sports and gambling television channel in Europe," according
     to Keenan & MacDonald of the Toronto GLOBE & MAIL.  MI
     Developments, the company to be spun off from Magna's core
     auto parts business, will hold a majority stake in the
     satellite channel, which will be available throughout Europe
     and allow people "to sit at home and bet on any sport"
     (GLOBE & MAIL, 12/11).  Stronach: "What we want to achieve
     there is a sports television station with a betting channel
     attached to it."  The station would be based in Austria.  MI
     Development "has already secured the marketing rights for a
     few premier league soccer teams in Austria which would
     likely provide" some content.  But Stronach "stressed" that
     MI Development doesn't want to own the clubs.  He said the
     recent purchase of Santa Anita in CA would "somewhat go
     along with" the European venture (TORONTO STAR, 12/11).