Union Oil Co. of California said it...

Union Oil Co. of California said it sold its entire 5.8% stake in Magma Power Co.’s common shares outstanding for about $17.4 million . . . New World Pictures said it is forming a new motion picture company with FilmDallas Investment Fund to produce and distribute English-language movies . . . Coca-Cola said it completed the previously announced acquisition of Merv Griffin Enterprises for an undisclosed amount of cash . . . R.H. Macy & Co.’s board of directors said it has scheduled a June 19 special meeting for shareholders to vote on management’s proposed $3.5-billion buyout of the retailer.