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Date: 21 April 2001
By Geraldine Fabrikant With Andrew Ross Sorkin
Geraldine With
News Corp chairman, Rupert Murdoch, is expected to make yet another offer to acquire Hughes Electronics, parent of DirecTV; Microsoft Corp and Liberty Media may join in bid (M)
Date: 21 April 2001
By Jim Rutenberg
Jim Rutenberg
Buffy the Vampire Slayer, television show that has been crucial to success of WB network, moves to UPN, its fiercest rival; WB is owned by AOL Time Warner, and 20th Century Fox is part of News Corp; WB has bee paying a reported $1 million an episode for Buffy, and UPN will reportedly pay on order of $2.3 million an episode (M)
Date: 20 April 2001
By Bloomberg News
Bloomberg News
UnitedHealth Group, a leading health insurer, said yesterday that it would manage pharmacy services for more than 1.6 million members of AARP, generating about $350 million in annual revenue for the company. The contract between UnitedHealth's Ovations unit and AARP and AARP Services Inc. is effective June 1, UnitedHealth said. The insurer, based in Minnetonka, Minn., already provides supplemental Medicare and hospital indemnity insurance to 3.6 million people through an AARP program.
Date: 21 April 2001
By Bloomberg News
Bloomberg News
MB Financial Inc and MidCity Financial Corp say they will merge in $175 million stock transaction, creating third-largest Chicago-based bank (S)
Date: 20 April 2001
By Bloomberg News
Bloomberg News
Barrett Resources, a producer of natural gas, is postponing its annual shareholder meeting because it is still looking for a buyer to top a hostile $2.2 billion takeover bid by the Royal Dutch/Shell Group. The meeting had been set for May 3 and has not been rescheduled, Barrett said. Barrett, which produces natural gas in the Rocky Mountain area, asked shareholders to reject Shell's $55-a-share cash bid as inadequate and started an auction for the company.
Date: 21 April 2001
By Bloomberg News
Bloomberg News
Brocade Communications Systems says its profits and sales will lag forecasts (S)
Date: 21 April 2001
By Bloomberg News
Bloomberg News
Williams Communications Group says bankruptcy of Winstar Communications Inc might affect Williams's plans to expand its own wireless capacity (S)
Date: 20 April 2001
By Bloomberg News
Bloomberg News
The Ivax Corporation said yesterday that a federal judge had allowed the company to keep selling a generic version of the cancer drug Taxol, rebuffing a rival company for the second time since October. The ruling by Judge Colleen Kollar-Kotelly of United States District Court in Washington is a setback for American BioScience, which asked the judge to order federal regulators to revoke the generic drug's approval. The two companies, along with the maker of Taxol, Bristol-Myers Squibb, are waging a multifaceted legal fight over a treatment that had sales of more than $1.5 billion last year.
Date: 20 April 2001
By Bloomberg News
Bloomberg News
Kimball International, which makes office furniture and electronic components for products like antilock brakes and insulin-measuring devices, laid off 1,025 workers, or 9 percent of its staff, as sales decreased in some segments. The job cuts occurred between Jan. 1 and April 18 throughout the company, said the chief financial officer, Robert F. Schneider. More cuts are possible if sales continue to decline, Mr. Schneider said. Kimball said overall sales for the third quarter ended March 31 rose 1 percent, to $312.7 million from $309.5 million. Excluding acquisitions, sales declined in the furniture and cabinet, and contract electronics-assembly segments, the company said.
Date: 20 April 2001
By Bloomberg News
Bloomberg News
Consolidated Edison Inc. said yesterday that first-quarter profits fell 4.8 percent after an electricity rate cut. Net income fell to $179.1 million, or 84 cents a share, from $188.1 million a year ago, the company said. Revenue rose 25 percent, to $2.88 billion. The company reiterated its 2001 per-share profit forecast of $3.20 to $3.30.