Larry King Signs CNN Accord Totaling $7 Million a Year
Date: 12 May 1998
By Bill Carter
Bill Carter
Cable News Network has signed its talk show host, Larry King, to new contract that will bring his salary close to parity with leading news anchors on broadcast networks; CNN executives will not comment on terms, but King says that under the deal, a five-year contract, he will receive compensation package totaling close to $7 million a year (M)
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PEN Award to Maine Reporter Ignites Feud With Newspaper
Date: 11 May 1998
By Carey Goldberg
Carey Goldberg
$25,000 award that will be presented by PEN American Center to Terrilyn Simpson, small-town Maine journalist, for defending First Amendment, creates stir in her home state; many of her colleagues at Courier Publications charge organization with failing to check facts by alleging that she was blacklisted for writing about effects of pollution from Champion International Corp paper mill in Bucksport; executive editor Michael McGuire says newspaper invested thousands of dollars in Simpson's investigation, and that before article was published she quit for unknown reasons (M)
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AMERICAN INDUSTRIAL EXPANDS PROPERTY HOLDINGS
Date: 12 May 1998
By Bloomberg News
Bloomberg News
American Industrial Properties acquires six light-industrial and low-rise office properties and two parcels of land for about $43.5 million, expanding its holdings in US Southwest (S)
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AMERICAN HOME PRODUCTS BUYS BIOTECHNOLOGY CONCERN
Date: 12 May 1998
By Bloomberg News
Bloomberg News
American Home Products Corp acquires Apollon Inc, biotechnology company; terms undisclosed (S)
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VIAD INCREASES OFFER FOR MONEYGRAM PAYMENT SYSTEMS
Date: 12 May 1998
By Bloomberg News
Bloomberg News
Viad Corp sweetens its offer for Moneygram Payment Systems Inc by about 2 percent a share, to $17.35 from $17 (S)
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CASTLE & COOKE TO REPURCHASE 3 MILLION SHARES
Date: 12 May 1998
By Bloomberg News
Bloomberg News
Shares of Castle & Cooke Inc rise after company buys back up to 15 percent of its stock through Dutch auction (S)
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New Jersey Prep Star Enters Draft
Date: 12 May 1998
By Bloomberg News
Bloomberg News
New Jersey high school basketball player Al Harrington will skip college and enter next month's National Basketball Association draft (S)
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Dutch Company Sells Packaging Operations
Date: 12 May 1998
By Bloomberg News
Bloomberg News
Royal KNP NV of Netherlands sells its packaging division for 3.4 billion guilders ($1.7 billion) in cash to European venture-capital companies, Cinven Ltd and CVC Capital Partners BV, which plan to seek separate stock listing for business, to be called Kappa Packaging (S)
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Moody's Cuts Ratings On South Korean Banks
Date: 12 May 1998
By Bloomberg News
Bloomberg News
Cost of borrowing for South Korea's three state-owned banks rises about 15 basis points as Moody's Investors Service Inc lowers their ratings because of deepening recession (S)
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Thyssen Agrees to Sell German Phone Business
Date: 12 May 1998
By Bloomberg News
Bloomberg News
Thyssen AG says it will sell its Plusnet fixed-line telephone business to Esprit Telecom Group PLC for 315 million marks ($180 million) (S)
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