MOFFATT COMMUNICATIONS ADDING CABLE-TV SYSTEMS
Date: 03 December 1997
By Bloomberg News
Bloomberg News
Moffat Communications Ltd. of Winnipeg, Manitoba, agreed yesterday to buy the Alberta cable-television systems of Groupe Videotron for $295 million (Canadian), or $209.5 million (United States), almost doubling the number of its subscribers. The purchase will add 152,000 cable subscribers to the 228,000 that Moffat already has in the United States and Canada. Moffat will also get 2,220 Internet-access customers from Groupe Videotron, which is based in Montreal.
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DURA PHARMACEUTICALS ENDS DEAL TO BUY SCANDIPHARM
Date: 02 December 1997
By Bloomberg News
Bloomberg News
Dura Pharmaceuticals Inc says that it ended its agreement to buy Scandipharm Inc for $93 million to $139 million in stock (S)
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PHARMACIA & UPJOHN TO EXPAND SALES FORCE BY 1,200
Date: 02 December 1997
By Bloomberg News
Bloomberg News
Pharmacia & Upjohn Inc says it will add 1,200 people to its sales force in next two years, expanding it from current 5,000 representatives as part of turnaround program (S)
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ACTIVISION BUYS 2 GAME DISTRIBUTORS FOR $48.6 MILLION
Date: 02 December 1997
By Bloomberg News
Bloomberg News
Activision Inc said it acquired two closely held video-game distributors--Centresoft Ltd of Britain and NBG Distribution of Germany--for $48.6 million in stock (S)
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200 TO LOSE JOBS AS UNIFI SHUTS TWO FACTORIES
Date: 03 December 1997
By Bloomberg News
Bloomberg News
Unifi Inc. said it would dismiss 200 employees, or 3.5 percent of its work force, when the company closes two yarn factories to cut operating costs. After the job cuts, Unifi will have 5,500 employees, the company said. Unifi, which is based in Greensboro, N. C., said it would close two older yarn plants in Graham and Lincolnton, N.C., by Feb. 1 to concentrate on running its 14 remaining plants more efficiently. Unifi took ownership of the two factories, which make yarns used in socks, women's hosiery and waistbands, when it acquired Spanco Yarns last month. Unifi also makes textured polyester and nylon. The company had revenues of $1.70 billion for the year ended June 29. Its shares rose 18.75 cents yesterday, to $37.75.
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GTECH TO FORGO A NEW BID FOR TEXAS LOTTERY CONTRACT
Date: 02 December 1997
By Bloomberg News
Bloomberg News
Gtech Holdings Corp says it will not rebid its Texas Lottery contract, its single biggest, and might have to write off investments and costs associated with contract (S)
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Newsprint Stakes Are Sold
Date: 03 December 1997
By Bloomberg News
Bloomberg News
Dow Jones & Company and the Washington Post Company said that they have sold their matching 35 percent stakes in two newsprint and timber companies to their partner, Brant-Allen Industries, for a total of $226 million. Dow Jones and Washington Post said that the sales of their interests in the Bear Island Paper Company and the Bear Island Timberlands Company would result in fourth-quarter gains of $28 million. The Bear Island companies produce 225,000 metric tons of newsprint annually and own 130,000 acres of timberland in Virginia.
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McKesson-Costco Accord
Date: 02 December 1997
By Bloomberg News
Bloomberg News
McKesson Corp says it renewed a pharmaceuticals distribution agreement with Costco Cos for three years, estimating value of contract at as much as $750 million, or additional $50 million a year (S)
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USG to Buy Canada Plant
Date: 02 December 1997
By Bloomberg News
Bloomberg News
USG Corp agrees to buy Canadian gypsum-panel plant from Louisiana-Pacific Corp for undisclosed terms (S)
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Russian Magazine Deal By Dutch Publisher
Date: 03 December 1997
By Bloomberg News
Bloomberg News
VNU N.V., a Dutch publisher, said yesterday that it had reached an agreement in principle to acquire 35 percent of the shares of Independent Media of Russia by Jan. 1. The financial terms of the share purchase were not disclosed. Independent Media was established in 1992 and has become the largest publisher in Russia of general magazines. Its roster of publications includes Cosmopolitan, Good Housekeeping and Marie Claire. It also publishes three newspapers, including Capital Markets Russia.
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