FIRST OFF . . .

Entertainer-TV mogul Merv Griffin completed his purchase of the Beverly Hilton Hotel on Thursday, but the price was lower than anticipated last month. Hilton Hotels Corp., which owned the 592-room facility jointly with Prudential Insurance Co. of America, said a Griffin company, GriffTel, paid $100.2 million for the property. When Griffin agreed to buy the 33-year-old building in November, terms weren’t disclosed. Sources indicated then, however, that the price could be up to $200 million, based on recent prices paid for two nearby hotels. Hilton Hotels will continue to manage the Beverly Hilton under a long-term contract with Griffin. The hotel will keep its name under the new ownership.