News Corp. Role In Bidding Seen
Date: 15 May 1998
Rupert Murdoch's News Corp reportedly joins in bid by Michael R Milken and others for Simon & Schuster publishing house (S)
S'està reproduint divendres, 15 de maig de 1998
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15th of May 1998 News
Notícies tal com van aparèixer a la portada del New York Times el 15 de maig de 1998
Founder of Media Watchdog Magazine Kills NBC Deal
Date: 15 May 1998
By David Rohde
David Rohde
Steven Brill, founder of new media watchdog magazine called Brill's Content (formerly Content), says proposal to co-produce segments on errant journalism with Dateline NBC has been killed after several staff members questioned how magazine could remain impartial if it was co-producing episodes with news show that was potential subject of its criticism (M)
MEDPARTNERS SAYS IT WILL DISMISS 900 WORKERS
Date: 15 May 1998
By Bloomberg News
Bloomberg News
Medpartners Inc says it will dismiss about 900 of its 9,500 employees in Southern California and impose temporary 7 percent pay cut on physicians not losing their jobs as company struggles to return to profitability under new chief executive, Marc Crawford (S)
HOSPITALITY IN BUY-AND-LEASE DEAL WITH CANDLEWOOD
Date: 15 May 1998
By Bloomberg News
Bloomberg News
Hospitality Properties Trust agrees to buy and lease back 16 hotels in 12 states from Candlewood Hotel Co for about $135 million in second such agreement between the two companies (S)
INTEGRATED CIRCUIT SAYS IT RECEIVED TAKEOVER OFFER
Date: 15 May 1998
By Bloomberg News
Bloomberg News
Integrated Circuit Systems Inc says it received unsolicited takeover offer from undisclosed buyer (S)
PURCHASE OF BALTIMORE GAS AND ELECTRIC UNIT PLANNED
Date: 16 May 1998
By Bloomberg News
Bloomberg News
Corporate Office Properties Trust said yesterday that it had agreed to buy the Baltimore Gas and Electric Company's real estate unit for $203 million in cash and securities, increasing its office property holdings by about 59 percent. The unit, Constellation Real Estate Group Inc., owns eight buildings in the Baltimore and Washington, D.C., areas. Under the terms of the agreement, Corporate Office will pay $107 million in cash or assume the same amount of debt. It will also issue 6.88 million common shares valued at $96 million and $24 million of convertible preferred stock. After the transaction, Corporate Office will own 45 properties.
WASTE MANAGEMENT SET TO CUT ITS DIVIDEND
Date: 16 May 1998
By Bloomberg News
Bloomberg News
Waste Management Inc. said yesterday that it would cut its quarterly dividend to conserve cash and take a second-quarter pretax charge of $70 million to $90 million for costs related to the year 2000 software bug. The trash company, based in Oak Brook, Ill., cut its dividend to a penny a share from 17 cents, payable on July 2 to shareholders of record on June 17. It said it would license USA Waste Services Inc.'s plan to eliminate the 2000 problem from its computer systems and discontinue its own plan. The moves come two months after the beleaguered company agreed to be bought by its rival, USA Waste, for $21.8 billion. Waste Management shares fell 43.75 cents yesterday, to $33.125.
DAVEL COMMUNICATIONS GROUP SELLS A 28% STAKE
Date: 16 May 1998
By Bloomberg News
Bloomberg News
Davel Communications Group Inc., one of the largest United States pay phone operators, has sold a stake of about 28 percent to Equity Group Investments Inc., a closely held investment group controlled by the Chicago billionaire Samuel Zell, for $28 million. Equity Group will receive one million newly issued common shares in Davel, plus warrants to purchase an additional 218,750 shares, which can be exercised if the stock reaches $32. Davel, based in Tampa, Fla., is selling the stake instead of pursuing a previously announced secondary equity offering.
ZIONS BANCORP AGREES TO ACQUIRE COMMERCE BANCORP
Date: 15 May 1998
By Bloomberg News
Bloomberg News
Zions Bancorp agrees to acquire Commerce Bancorp for undisclosed amount in stock (S)
AMERICAN AIRLINES ORDERS 25 MORE BOEING AIRCRAFT
Date: 16 May 1998
By Bloomberg News
Bloomberg News
American Airlines said yesterday that it had ordered 25 more 737-800 aircraft from the Boeing Company, adding to a $7 billion purchase of more than 100 planes announced in November 1996. The 737, one of the most widely used jetliners in commercial aviation, will replace 727-200's, the oldest planes in American's fleet. The 25 new planes, worth $1.29 billion before discounts, are scheduled to be delivered between January 2000 and January 2002. American, a unit of the AMR Corporation, now has 100 737's on order. The carrier expects to replace all its 727's by 2004. American originally ordered 103 planes from Boeing in 1996.