Hollywood Park unit proposes parent company sell race track.

Hollywood Park unit proposes parent company sell race track

INGLEWOOD - A majority of Hollywood Park Operating Co.'s board of directors last week proposed that its parent company, Hollywood Park Realty Enterprises Inc., sell the renowned race track and 347 acres of adjacent land here.

The company's stock, traded over the counter on a paired basis, rose 62.5 cents a share to close at a new 52-week high of $35.50 a share on Nov. 28, the day following the announcement.

At that price, the company's market value is nearly $140 million.