New Zealand Papers Buy Pay-TV Stake
Date: 27 August 1997
By Bloomberg News
Bloomberg News
Independent Newspapers Ltd, which is 49.5 percent-owned by News Corp, headed by Rupert Murdoch, says it will buy 48 percent stake in New Zealand's largest pay-television operator, Sky Network Television Ltd, for $199 million; Independent Newspapers will buy 51.13 percent stake held by HKP Partners; it will sell 3.13 percent to Sky's other shareholders (S)
Full Article
Service Is Said To Intercept Data on Pagers
Date: 28 August 1997
By John Sullivan
John Sullivan
Federal prosecutors announce arrest of three men on charges of intercepting sensitive information sent to pagers of top police and fire officials in New York City; Steven Gessman, Vinnie Martin and Jeffrey R Moss of news tip service Breaking News Network are charged with illegally intercepting private communications (M)
Full Article
Mexico's Official Embrace of Press Chills as a Publisher Is Fined
Date: 27 August 1997
By Julia Preston
Julia Preston
Juan Francisco Ealy Ortiz, publisher of Mexico City daily El Universal, is convicted of tax fraud, but jail sentence is commuted to small fine; Pres Ernest Zedillo brought case to show he was serious about cutting off informal privileges and subsidies extended to press in exchange for press support for Government; Ealy Ortiz responded by transforming pro-Government paper into feisty critical broadsheet (M)
Full Article
Tough Journalism
Date: 27 August 1997
By Gustavo Gorriti
Gustavo Gorriti
Op-Ed article by Gustavo Gorriti, Panamanian newspaper aide, who resists expulsion from Panama for in-depth reporting of business dealings of cousin of Pres Ernesto Perez Balladares; recalls his earlier expulsion from his native Peru for reporting that angered Pres Alberto Fujimori; holds independent press has key role to play in cosmetic democracies of Latin America, where privatization has spurred government corruption exponentially; drawing (M)
Full Article
Japan Continuing To Keep Rates Low
Date: 28 August 1997
By Bloomberg News
Bloomberg News
Japan's cental bank will continue to hold interest rates at record lows to keep nation's economy on path of moderate recovery (S)
Full Article
An Imperial Holly Bid for Savannah Foods
Date: 27 August 1997
By Bloomberg News
Bloomberg News
Savannah Foods and Industries receives buyout offer of $18.75 in cash and stock from Imperial Holly Corp, a 24 percent premium over Savannah's closing share price; buyout is valued at about $497 million (S)
Full Article
2 Licensed to Offer Dow Jones Contracts
Date: 28 August 1997
By Bloomberg News
Bloomberg News
Dow Jones & Co has licensed Bankers Trust New York Corp and Merrill Lynch & Co to offer financial contracts that will enable investors to make bets on direction of Dow Jones industrial average (S)
Full Article
CARRAMERICA TO BUY TEMPORARY OFFICE SPACE PROVIDER
Date: 28 August 1997
By Bloomberg News
Bloomberg News
CarrAmerica Realty Corp agrees to buy Omnioffices Group Inc, temporary office space provider, for $50 million in cash (S)
Full Article
PPG INDUSTRIES AND BASF IN A DEAL TO SWAP BUSINESSES
Date: 28 August 1997
By Bloomberg News
Bloomberg News
PPG Industries will acquire packaging coatings business of BASF AG in swap that would give German company PPG Industries' activities in surfactants, which are chemicals used to make detergents, cleansers, paper and textiles (S)
Full Article
PHILIP MORRIS PLANS TO CONSERVE CASH FOR SETTLEMENT
Date: 28 August 1997
By Bloomberg News
Bloomberg News
Philip Morris Companies will not increase its quarterly dividend so it can conserve cash for tobacco industry's proposed national settlement of health-related lawsuits (S)
Full Article