Madison Ave. In Newsroom Once Again
Date: 13 June 1997
By Stuart Elliott
Stuart Elliott
Continuing debate over whether a newsman should be allowed to be pitchman has flared up because print advertisement for Visa by BBDO New York features CNN correspondent Jonathan Karl; photo (L)
Full Article
With a Sale, Murdoch Will End Direct-Broadcast Bid
Date: 12 June 1997
By Seth Schiesel
Seth Schiesel
Rupert Murdoch strikes $1.1 billion agreement with consortium of big cable television operators that will remove Murdoch's News Corp from active role in America's direct-broadcast satellite market; Murdoch's decision to buy Pat Robertson's Family Channel and his removal from direct-broadcast satellite market marks return to emphasis on television programming for Murdoch after his bid to develop his own North American television distribution system ends in defeat; American Sky Broadcasting, which is 80 percent owned by News Corp and 20 percent owned by MCI Communications Corp, agrees to sell its two satellites and their accompanying orbital slots over North America to Primestar Partners; Primestar, nation's number two direct-broadcasting satellite service with about 1.8 million customers, is partnership headed by Tele-Communications Inc and Time Warner Inc; Primestar says it intends to become a corporation, Primestar Inc (L)
Full Article
Murdoch Set To Buy Family Cable Concern
Date: 12 June 1997
By Geraldine Fabrikant
Geraldine Fabrikant
Rupert Mudoch's News Corp agrees to pay $1.9 billion to acquire Family Channel, cable channel controlled by Pat Robertson, religious-right purveyor of The 700 Club Christian talk show, family-oriented movies and reruns of wholesome programming; analysts say whatever Murdoch's plans for spicing up Robertson's Family Channel, he must take care not to totally alienate viewership that has turned the operation into nation's ninth-largest cable network, reaching 67 million homes; Murdoch, whose Fox Kids Worldwide Inc unit of News Corp is acquiring Robertson-controlled holding company, International Family Entertainment Inc, is intent on expanding into cable programming and vying with other family-oriented programmers; table (L)
Full Article
BAXTER TO BACK VIMRX DEVELOPMENTAL VENTURE
Date: 13 June 1997
By Bloomberg News
Bloomberg News
Vimrx Pharmaceuticals Inc and Baxter International Inc form joint venture to development treatments for cancer, AIDS and other diseases
Full Article
TEXAS PLANNED COMMUNITY TO BE SOLD FOR $543 MILLION
Date: 13 June 1997
By Bloomberg News
Bloomberg News
Mitchell Energy and Development Corp agrees to sell Woodlands property unit, which owns and operates office and residential development north of Houston, Tex, for $543 million in cash; partnership formed by affiliate of Morgan Stanley, Dean Witter, Discover & Co and Crescent Real Estate Equities Co is buying the Woodlands (S)
Full Article
U S WEST GETS $220 MILLION FOR TIME WARNER SHARES
Date: 13 June 1997
By Bloomberg News
Bloomberg News
US West Media Group Inc sells about 4.4 million Time Warner Inc shares for $220 million; US West Media says sale is part of plan to sell $1 billion of assets the company does not consider strategic and is unrelated to its partnerships with Time Warner (S)
Full Article
INCO TO SELL UNIT FOR CASH TO DEVELOP NICKEL DEPOSIT
Date: 12 June 1997
By Bloomberg News
Bloomberg News
Inco Ltd agrees to sell its Alloys International unit to Blackstone Group LP for $410 million, raising money to develop its Voisey's Bay nickel deposit on eastern coast of Canada (S)
Full Article
FAHNESTOCK BIDS $37.5 MILLION FOR FIRST OF MICHIGAN
Date: 13 June 1997
By Bloomberg News
Bloomberg News
Fahnestock Viner Holdings Inc, Toronto-based securities brokerage concern, will offer $37.5 million in cash for First of Michigan Capital Corp, a Detroit-based brokerage firm (S)
Full Article
INVESTORS SELL 6% STAKE IN MCKESSON FOR $216 MILLION
Date: 12 June 1997
By Bloomberg News
Bloomberg News
McKesson Corp says Kelso Investment Partners IV LLP, affiliate of Kelso & Co, and other investors have sold 6 percent stake of McKesson they acquired as result of company's acquisition of General Medical Inc in February; McKesson is largest US supplier and distributor of drugs and health care supplies (S)
Full Article
Kolbenschmidt Merger Is Postponed
Date: 13 June 1997
By Bloomberg News
Bloomberg News
Kolbenschmidt AG is postponing its merger with Rheinmetall AG because original schedule is too short (S)
Full Article