Fortune Bucks Critics And Covers Its Parent
Date: 23 March 1998
By Robin Pogrebin
Robin Pogrebin
Corporate titans are buying media properties, forcing publications to decide how--or whether--to cover their parent companies; some media critics are critical of Fortune and Time for publishing articles, both positive and negative, about their parent, Time Warner Inc; even within Fortune, there was some dissent about recent article on rising fortunes of Time Warner's chairman and chief executive, Gerald M Levin; Fortune's managing editor, John Huey, says he deliberately assigned article to Nelson D Schwartz, young writer who is new to Fortune's staff; Schwartz says he was determined not to write article that would be perceived as softball piece by media; he points out that article is not entirely glowing; photo (M)
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SAMSONITE DISCUSSES SELLING 50% STAKE TO PAY DIVIDEND
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Samonsonite Corp is in talks to sell 50 percent equity stake to unnamed investors and use proceeds to pay $30-a-share dividend to stockholders, including Apollo Advisors LP, which is headed by Leon Black, a Samsonite director (S)
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CREATIVE COMPUTERS STOCK FALLS 22% ON STORE CLOSINGS
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Shares of Creative Computers Inc fall 22 percent after company says it has closed six of its seven stores, dismissing about 150 people, to focus on selling through its catalogue and the Internet; shares fall $2.375, to $8.375 (S)
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SERVICO TO ACQUIRE IMPAC HOTEL GROUP IN STOCK DEAL
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Servico Inc will buy Impac Hotel Group for $111.8 milion stock, adding upscale hotels and creating nation's largest independent hotel owner and operator, with several brands, including Marriott; combined company will be called Lodgian (S)
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PLAINS IN $420 MILLION DEAL FOR 3 GOODYEAR BUSINESSES
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Plains Resources Inc agrees to buy All American Pipeline System, Goodyear Tire and Rubber Co's oil pipeline unit, and Goodyear's Celeron Gathering Corp and Celeron Trading and Transportation Co units, for $420 million in cash (S)
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Mitsubishi to Merge Petroleum Product Units
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Mitsubishi Corp and Mitsubishi Oil Co will merge petroleum product sales units in July and cut staff to reduce operation costs; Mitsubishi Corp is Mitsubishi Oil's largest shareholder (S)
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Cash Retires
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Pat Cash, a former Wimbledon champion, says that he is retiring from tennis after 16 years as a professional (S)
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Great Universal Stores Sues Merger Rival
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Great Universal Stores PLC, Britain's largest home shopping company, has filed countersuit against American Business Information Inc, contending US company interfered with its $831 million bid for Metromail Corp, a direct marketer (S)
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Betsy King Reaches $6 Million
Date: 24 March 1998
By Bloomberg News
Bloomberg News
Betsy King becomes first LPGA player to reach $6 million in career earnings after finishing tied for 30th in last weekend's Standard Register Ping Classic (S)
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Bidders for CIC Narrowed to 3 Banks
Date: 24 March 1998
By Bloomberg News
Bloomberg News
French Government narrows number of bidders for Compagnie Financiere de CIC to Societe Generale SA, Credit Mutuel and ABN AMRO Holding after exmining bids from five companies (S)
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