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4th of July 1996 News
Novice, kot so bile prikazane na prvi strani New York Timesa na 4. julij 1996
COMPANY NEWS;INDIVIDUAL BUYS NEWS SERVICE FOR $38 MILLION
Date: 04 July 1996
Bloomberg Business News
Bloomberg News
Individual Inc. said yesterday that it had acquired Freeloader Inc. for about $38 million in cash and stock. Freeloader, based in Washington, is a personalized news service that retrieves information from the Internet's World Wide Web and delivers it to the personal computers of subscribers. Individual, based in Burlington, Mass., paid $2 million in cash and 1.9 million common shares for all Freeloader stock outstanding. Individual's stock fell $1.50 a share, to $15.75, in Nasdaq trading. Individual plans to integrate Freeloader's technology with its other customized news services.
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NEWS SUMMARY
Date: 05 July 1996
International A2-10
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NEWS SUMMARY
Date: 04 July 1996
International A2-9
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COMPANY NEWS;GERIATRIC AND MEDICAL IN ACQUISITION TALKS
Date: 04 July 1996
Bloomberg Business News
Bloomberg News
The Geriatric and Medical Companies said yesterday that it was in discussions with another party about a possible acquisition. The company said no agreement had been reached. James J. O'Malley, the company's vice president and chief financial officer, declined to name the other company involved or any financial details. Shares of Geriatric and Medical rose 50 cents yesterday, to $4, giving the company a current market capitalization of almost $62 million. The company, based in Philadelphia, is a health care concern.
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COMPANY NEWS;CASINO AMERICA TO TAKE CONTROL OF PARTNERSHIP
Date: 04 July 1996
Reuters
Casino America Inc. agreed yesterday to acquire full control of its 50-50 partnership with Louisiana Downs Inc., which owns the Isle of Capri Casino in Bossier City, La. Louisiana Downs is a subsidiary of the Edward J. DeBartolo Corporation of Youngstown, Ohio. The price was about $100 million. Casino America, based in Biloxi, Miss., said that it would pay $85 million in cash and offer five-year warrants for 500,000 shares of its common stock at an exercise price of $10.50 a share. The stock slipped 18.75 cents yesterday, to $7.875, in Nasdaq trading. It would also pay $1.5 million a year for seven years, payable monthly beginning Oct. 1, 1998. Casino America operates four riverboat and dockside casinos in Biloxi and Vicksburg, Miss., and Bossier City and Lake Charles, La.
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COMPANY NEWS;MET LIFE ASSUMES 25,000 POLICIES AND CONTRACTS
Date: 04 July 1996
Dow Jones
Dow Jones
The Metropolitan Life Insurance Company, the second-largest United States life insurer, said yesterday that it had assumed nearly 25,000 life insurance policies and annuity contracts from the failed National Heritage Life Insurance Company. Met Life, which is based in New York, had said earlier this year that it would assume 20,595 annuity contracts and 3,888 policies of National's policyholders, retroactive to Jan. 1. National, based in Delaware, filed for bankruptcy in 1994 and was liquidated by insurance regulators in that state.
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COMPANY NEWS;MICROSOFT TO CONTINUE BUYING BACK ITS SHARES
Date: 04 July 1996
Dow Jones
Dow Jones
The Microsoft Corporation said yesterday that it planned to continue its stock repurchase program in the 1997 fiscal year. Microsoft repurchased about 13.5 million shares for $1.38 billion in the fiscal year that ended last Sunday. Microsoft, which is based in Redmond, Wash., said the number of shares to be acquired in the fiscal year 1997 hinged on the level of employee stock option exercises, the price of shares of Microsoft and market conditions. Microsoft's stock was down 50 cents yesterday, to $121.125 a share on the Nasdaq stock market.
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WORLD NEWS BRIEFS;Amnesty Critical of Rate Of Executions in China
Date: 04 July 1996
AP
China has executed at least 1,000 people since it began a campaign against crime two months ago, Amnesty International said today. Most were executed immediately after unfair trials, the rights organization said. Chinese officials were not available to comment on the report.
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COMPANY NEWS;STARWOOD LODGING AGREES TO ACQUIRE 9 HOTELS
Date: 04 July 1996
Dow Jones
Dow Jones
Continuing its buying spree, Starwood Lodging Trust said yesterday that it had agreed to acquire nine hotels from Hotels of Distinction Ventures Inc. of Palm Beach, Fla., for $134 million. The hotels, with a total of 2,425 rooms, would be operated by Starwood Lodging Trust's affiliate, the Starwood Lodging Corporation, a hotel management and operating company. The hotels are in Atlanta; Needham, Mass.; Palm Desert, Calif.; St. Louis; Tucson, Ariz.; Minneapolis; Arlington Heights, Ill.; Allentown, Pa., and Winston-Salem, N.C. In the last 12 months, Starwood, which is based in Los Angeles, has bought properties that have about 11,300 rooms for $840 million. Its portfolio now includes stakes in 62 hotels with more than 16,400 rooms.
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WORLD NEWS BRIEFS;Hungary to Compensate Jews for Wartime Losses
Date: 04 July 1996
AP
The Government has agreed to compensate the Jewish community for property seized during World War II, a Jewish leader said today. "This is a landmark agreement, a big step forward," said Gusztav Zoltai, head of the Hungarian Jewish Communities.
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