Speculation has been buzzing around this property investment company for some time. And now it has revealed plans to change its spots from those of a property company to a media concern. It will sell three property firms to Panther Securities for £8.8m, generating £2.5m net of related bank borrowings. It will purchase Equator Films, a film library and distribution operation, for £9m, financed by £7.2m of Northstar shares and £1.8m deferred shares. It will also purchase the Isleworth Film Studio for £1.3m. The last piece of the jigsaw is to change its name to Equator Group. According to Ian Robinson, Northstar chairman, the group aims to 'make, own and sell its own films' whilst realising that 'it will not become MGM'. In the year to 31 December, Northstar made pre-tax profits of £237,025 on turnover of £1.1m. This fed through into earnings per share of 2.17p.