VIDEO CHAINS' FOURTH-QUARTER REVENUE PICTURE BRIGHTENS

NEW YORK -- If the late-year financial results being announced by big video specialty retailers are an indication, the rental industry has turned around from the disappointing numbers posted earlier in 1997.Led by the news that Blockbuster Entertainment Group, Dallas, of Viacom here, had shown a significant improvement in operating revenues, other retailers also reported gains. At Blockbuster, revenues

NEW YORK -- If the late-year financial results being announced by big video specialty retailers are an indication, the rental industry has turned around from the disappointing numbers posted earlier in 1997.

Led by the news that Blockbuster Entertainment Group, Dallas, of Viacom here, had shown a significant improvement in operating revenues, other retailers also reported gains. At Blockbuster, revenues increased 7% in the fourth quarter to $1.02 billion, with cash flow gaining 30% to

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