LOSS AT PAY-TV CONCERN
Date: 12 August 1999
By Andrew Ross Sorkin
Andrew Sorkin
British Sky Broadcasting PLC, Europe's second-largest pay-television company, reports loss of $9 million for its fourth quarter as it tried to attract new customers; company, 40 percent owned by News Corp, says it gained 1.2 million subscribers for Sky Digital service (S)
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Big Companies Back a New Web Site Aimed at Blacks
Date: 12 August 1999
By Saul Hansell
Saul Hansell
Group of big media and technology companies agrees to back BET Holdings, which operates several black-oriented cable television stations, in establishing elaborate Internet service aimed at black Americans; BET has raised $35 million for project from Microsoft Corp, USA Networks, News Corp and AT&T's Liberty Media unit, which is minority owner of BET; service, which is known as BET.Com, is scheduled to be introduced Nov 1 and will replace company's existing joint venture with Microsoft, MSBET; BET venture will compete with several existing sites aimed at blacks, all of which are backed by major media companies; largest is Blackvoices.com, offering of Tribune Co (M)
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MICROSOFT OFFERS ON-LINE DISCOUNT AT COSTCO
Date: 12 August 1999
By Bloomberg News
Bloomberg News
Microsoft Corp is offering MSN Internet access at 40 percent discount to its regular price through Costco Companies, leading chain of warehouse-club stores, as fees for online services continue to fall; three months of service are being offered at $35.97, or $11.99 a month, compared with MSN's regular fee of $19.95 a month; Microsoft is moving to cut Internet access fees as it competes with America Online Inc; in recent months, Microsoft has formed partnerships with Staples Inc, Micro Center and Lan Plus Inc to offer free personal computers in exchange for MSN Internet service (S)
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BLOCKBUSTER RAISES $465 MILLION IN AN INITIAL OFFERING
Date: 11 August 1999
By Bloomberg News
Bloomberg News
Blockbuster Inc raises $465 million in initial public offering; sells 31 million shares to public at $15 each; offering represents 18 percent stake and values Blockbuster at $2.63 billion; Viacom Inc, which retains about 82 percent of Blockbuster shares, plans to spin off remainder of shares to its own shareholders (S)
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OAK FORECASTS PROFIT SHORTFALL, AND ITS STOCK DECLINES
Date: 12 August 1999
By Bloomberg News
Bloomberg News
Oak Industries says it expects third-quarter net income to fall short of analysts' estimates, setting off 32 percent decline in its stock price; shares fall $13.25, to $27.75 (S)
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ASSOCIATES FIRST CAPITAL BUYS CREDIT CARD PORTFOLIO
Date: 12 August 1999
By Bloomberg News
Bloomberg News
Associates First Capital Corp agrees to purchase $120 million private-label credit card portfolio from Citgo Petroleum Corp for undisclosed amount; will acquire credit card loans of Citgo and issue, process and service oil company's 1.3 million accounts (S)
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SLUMPING SALES CAUSE OAKWOOD HOMES TO CLOSE PLANTS
Date: 11 August 1999
By Bloomberg News
Bloomberg News
Oakwood Homes Corp says it reduced its work force by 695 workers this summer and closed some plants (S)
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H & R BLOCK ACQUIRES A FRANCHISE THAT OWNS 90 OFFICES
Date: 11 August 1999
By Bloomberg News
Bloomberg News
H&R Block Inc, nation's largest tax preparer, buys one of its largest franchises, adding 90 offices in North and South Carolina to number of sites it owns; terms undisclosed (S)
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SIMON PROPERTY MAY RAISE ITS STAKES IN MALL OF AMERICA
Date: 11 August 1999
By Bloomberg News
Bloomberg News
Simon Property Group is in talks to raise its stake in Mall of America in Bloomington, Minn, in transaction valued at as much as $425 million; Simon Property will buy half of 50 percent stake in mall held by Teachers Insurance and Annuity Association-College Retirement Equity Fund; TIAA-CREF's half-stake gives it 100 percent of mall (S)
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24/7 MEDIA BUYS E-MAIL MARKETER TO EXPAND DATA BASE
Date: 11 August 1999
By Bloomberg News
Bloomberg News
24/7 Media Inc, Internet advertising company, acquires electronic-mail marketer Consumernet for $52 million (S)
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