HBO said it is buying out HBO/Cannon Video.

Home Box Office Inc., New York, said it has an agreement in principle to acquire Los Angeles-based Cannon Group’s share of the joint venture in the home video field. No terms were announced, but an industry report put the price at between $5 million and $10 million. Loss-plagued Cannon has agreed to sell some larger assets in recent months, including the film library of its Screen Entertainment subsidiary in London to Weintraub Entertainment, Los Angeles, for more than $100 million.