CANNON &lt;CAN> SELLS STAKE IN HBO/CANNON VENTURE

  Cannon Group Inc said it agreed in
  principle to sell its 50 pct interest in the HBO/Cannon Video
  joint venture to the Home Box Office unit of Time Inc &lt;TL>.
      The company said it is making the sale because in the near
  future all of its video products will be licensed in the United
  States and Canada to either the Warner Brothers unit of Warner
  Communications Inc &lt;WCI>, or to Media Home Entertainment.
  

