MGM/UA Communications announced Monday it has reached agreement in principle to sell its movie and television production units in a complex deal to investor Burt Sugarman and two producers. The Sugarman group, as a first step in the transaction, will acquire 25 percent of MGM's stock from Kirk Kerkorian, who owns 82 percent of MGM/UA. Terms of the deal were not disclosed. Kerkorian will offer the remaining shares of MGM/UA, to be renamed United Artists, to the company's stockholders for $8 a share. Of the exercise price, $2 a share would be contributed to MGM, and the balance would be used by United Artists to retire all of its bank debt, with the remainder being available for other corporate purposes.