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ABC Buys 'Harry Potter,' Sequel

ABC has acquired the television rights to the record-setting children's film 'Harry Potter and the Sorcerer's Stone' and its sequel, in what is rumored to be one of the most expensive such deals in TV history. The network did not disclose a price for its purchase of rights to 'Harry Potter' and a sequel, 'Harry Potter and the Chamber of Secrets,' but Reuters reported that ABC paid between $60 million and $70 million for each film.
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