Sports and TV Start-Ups Limit News Corp. Earnings
Date: 11 February 1999
By Bloomberg News
Bloomberg News
News Corp reports its fiscal second-quarter income fell 14 percent; income from operations fell to $339 million from $395 million in year-earlier period; revenue rose 15 percent, to $4.06 billion from $3.53 billion; Fox Entertainment Group says profit rose 52 percent; net income rose to $105 million from $69 million a year ago; News Corp says it will end its agreement to buy as much as 80 percent of Stream pay-television unit of Telecom Italia if Italian Government decree limiting soccer-rights ownership is not changed; British Sky Broadcasting, which is 40 percent owned by News Corp, says sales for its new digital service surpassed forecasts; profit for fiscal second quarter fell to 800,000 pounds--about $1.3 million--from 61 million pounds--about $100 million (M)
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Portsmouth Attracts Another Possible Buyer
Date: 11 February 1999
By Bloomberg News
Bloomberg News
News Communication and Media PLC, British regional newspaper publisher, says it is in talks to buy newspaper assets of Portsmouth and Sunderland Newspapers PLC, local retailer and publisher; graph (S)
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Judge Gags Press at Trial of Malaysia's Former Deputy Premier
Date: 11 February 1999
By Mark Landler
Mark Landler
Judge in corruption trial of Malaysia's ousted Deputy Prime Minister, Anwar Ibrahim, bars news media from publishing Anwar's court statements about Prime Min Mahathir Mohamad and Police Chief Abdul Rahim Noor; has rejected Anwar's charges of political conspiracy (M)
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Audience Participation
Date: 11 February 1999
By Richard L. Fox
Richard Fox
Prof Richard L Fox Op-Ed article contrasts news media's stress on Monica Lewinsky scandal when reporters questioned Rev Jesse Jackson after his Black History Month speech at Union College with student interest in issues he raised (M)
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APPLEBEE'S IS SELLING RIO BRAVO RESTAURANTS TO CHEVY'S
Date: 12 February 1999
By Bloomberg News
Bloomberg News
Applebee's International Inc., an operator of casual-dining restaurants, said yesterday that it had agreed to sell its Rio Bravo Cantina restaurants to the closely held Chevy's Inc. for $53 million in cash, plus $6 million in assumed debt. Chevy's expects to spend $6 million more to bring Rio Bravo franchisees into its network of almost 100 Fresh Mex restaurants. Applebee's said it would take a $5.04 million charge against first-quarter earnings for selling the Rio Bravos and four other restaurants. Its shares rose $1.9375, to $25.8125.
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SPECTRASITE BUYING 2,000 TOWERS FROM NEXTEL
Date: 12 February 1999
By Bloomberg News
Bloomberg News
Nextel Communications, which offers wireless phone services to businesses, agreed yesterday to sell more than 2,000 towers to Spectrasite Communications for $560 million in cash and a 17 percent stake in the closely held Spectrasite. In addition, Spectrasite said it would receive $490 million to build 1,700 new towers within five years, including more than 1,000 this year. Equity investors including the investment firm Welsh, Carson, Anderson & Stowe committed $400 million in cash to Spectrasite to complete the transaction. Shares of Nextel rose $1.625, to $32.125.
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CHANCELLOR MEDIA INTENSIFIES ITS SEARCH FOR A BUYER
Date: 12 February 1999
By Bloomberg News
Bloomberg News
The Chancellor Media Corporation, soon to be the No. 1 owner of radio stations in the United States, said yesterday that it had heightened its search for a buyer for all or part of the company by hiring additional Wall Street advisers. Chancellor said it had hired Morgan Stanley Dean Witter & Company, Goldman, Sachs & Company, Chase Securities Inc. and Greenhill & Company. Hicks, Muse, Tate & Furst Inc., the Dallas buyout firm that will own about 25 percent of Chancellor after the completion of pending purchases, will also advise it. Chancellor also said yesterday that it had a fourth-quarter loss of $26.6 million, or 23 cents a diluted share, 3 cents more than Wall Street had expected. It attributed the loss mostly to expenses relating to a series of acquisitions dating to 1996. Chancellor shares rose $1.375, to $50.75.
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DEUTSCHE BANK SEES NO ROADBLOCKS TO BANKERS TRUST
Date: 11 February 1999
By Bloomberg News
Bloomberg News
Deutsche Bank AG chief executive Rolf Breuer says he is confident that his bank's acquisition of Bankers Trust Corp will be completed as planned this year (S)
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SEAGRAM DECIDES TO KEEP POLYGRAM FILM UNIT
Date: 11 February 1999
By Bloomberg News
Bloomberg News
Seagram Co will keep international operations of Polygram Filmed Entertainment after talks to sell it to Saudi Prince Muhammad bin Bandur Abdul Aziz for as much as $600 million break down; Seagram's Universal Studios will integrate Polygram business (S)
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SINCLAIR BROADCAST SAYS IT WILL ANNOUNCE SALE OF UNITS
Date: 11 February 1999
By Bloomberg News
Bloomberg News
Sinclair Broadcast Group Inc chief financial officer David Amy says company is close to selling some non-strategic radio and television stations to focus on its main markets after spate of acquisitions (S)
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