NEW WORLD PICTURES &lt;NWP> SELLS TAFT &lt;TFB> STAKE

  New World Pictures Ltd said it sold
  456,900 shares or about five pct of Taft Broadcasting Co common
  stock for a gain of 17.8 mln dlrs.
      The company said in a brief statement that it acquired the
  stock in late 1986.  It gave no further details and company
  officials were not immediately available for comment.
      On Friday, Taft vice chairman Dudley S. Taft and
  Narragansett Capital Inc &lt;NARR> offered to acquire Taft for 145
  dlrs per share.  Dudley Taft and his family have owned 12 pct
  of the company.
      An investment group leds by Robert M. Bass, one of the Bass
  brothers of Fort Worth, Texas, has been reported as owning
  about 25 pct of Taft stock, and &lt;American Financial Corp>
  chairman Carl Lindner has been reported to own about 16 pct. 
  Both Bass and Linder have acquired Taft shares in recent months.
  

