Italy Sets Ownership Limit on Soccer Rights
Date: 27 January 1999
By Bloomberg News
Bloomberg News
Italy's ruling coalition agrees to limit single broadcaster's ownership of soccer pay-television rights to 60 percent; News Corp executive Letizia Moratti says she still plans to bid for all rights to matches of Italy's two top leagues (S)
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Outside the Chamber of Justice, the Crucial Halls of Spin
Date: 28 January 1999
By Caryn James
Caryn James
Caryn James's Critic's Notebook column on use of television media by House prosecutors and senators to give political 'spin' on proceedings during short breaks in Senate impeachment trial of Pres Clinton; photos (M)
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Group of Brokers Is Facing Charges of Insider Trading
Date: 28 January 1999
By Edward Wyatt
Edward Wyatt
Securities and Exchange Commission and Justice Department announce group of stockbrokers from Renaissance Financial Securities has been charged with insider trading in scheme involving nonpublic information about coming articles in Business Week magazine; charges contend that from June 1995 through January 1996, Larry F Smath, former broker at Renaissance, paid employee of magazine distribution company approximately $200 a week for advance faxed copy of Business Week's widely read 'Inside Wall Street' column, which frequently reports on rumored acquisitions or stock recommendations of money managers; Smath then reportedly sold information to four other brokers; SEC says information was used as basis for purchases of $8 million of securities; Smath pleads guilty to one count of conspiracy to commit securities fraud; Peter L Cohen, Seth J Glaser and Joseph T Falcone are arrested on charges of insider trading; others named in SEC complaint are Tasin & Co broker Frank J Zangara and Gregory R Salvage, foreman at Hudson News Co, distributor of newspapers and magazines including Business Week (M)
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XEROX SHARES CLIMB 10.2% ON NEWS OF HIGHER EARNINGS
Date: 27 January 1999
By Bloomberg News
Bloomberg News
Xerox Corp stock rises 10.2 percent after company reports fourth-quarter net income rose 17 percent, to $615 million, up from year-earlier $525 million; Xerox sets 2-for-1 stock split; raises quarterly dividend 11 percent (S)
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BLOCKBUSTER RENEWS AGREEMENT WITH TIME WARNER
Date: 27 January 1999
By Bloomberg News
Bloomberg News
Blockbuster Entertainment, video-rental chain, renews revenue-sharing pact with Time Warner Inc, one of its several partnerships with Hollywood studios; accords reduce amount company must pay up front for each movie copy (S)
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TENNECO TO SELL STAKE IN CONTAINERBOARD UNIT
Date: 27 January 1999
By Bloomberg News
Bloomberg News
Tenneco Inc to sell majority stake in its containerboard business, which will be renamed Packaging Corp of America, to Madison Dearborn Partners for $2.2 billion; will keep 45 percent stake (S)
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BROADCOM TO BUY MAKER OF NETWORK SWITCHES
Date: 27 January 1999
By Bloomberg News
Bloomberg News
Broadcom Corp to buy Maverick Networks for $111.9 million in stock; reports 1998 fourth quarter net income rose 419 percent, to record $12.8 million, up from $2.5 million in 1997 period; sets 2 for 1 stock split (S)
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MICROSOFT TO INVEST IN DUTCH CABLE-TELEVISION COMPANY
Date: 28 January 1999
By Bloomberg News
Bloomberg News
Microsoft Corp will invest $300 million in United Pan-Europe Communications NV, largest Dutch cable-television company, to push high-speed Internet access in Europe (S)
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MEDPARTNERS AGREES TO SELL DOCTOR-MANAGEMENT UNIT
Date: 28 January 1999
By Bloomberg News
Bloomberg News
Medpartners Inc to sell its hospital-based physician-management unit for $335 million to group of private investors--Madison Dearborn Partners, Cornerstone Equity Investors LLC, Beecken Petty & Co and management of unit called Team Health (S)
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BP AMOCO BEGINS REORGANIZATION WITH JOB CUTS
Date: 27 January 1999
By Bloomberg News
Bloomberg News
BP Amoco PLC begins revamping that includes 2,475 job cuts in Texas, Alaska and Canada, and closing of New Orleans and Denver offices, which together employ 600 workers (S)
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