Two Stations, One Tabloid, One Owner
Date: 26 July 2001
By Jayson Blair
Jayson Blair
Federal Communications Commission approves Fox Television Holdings' acquisition of Chris-Craft, which owns ten television stations, giving Rupert Murdoch's News Corporation control of three major news media properties in New York: The New York Post, WNYW-TV and WWOR-TV; photo (M)
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World Business Briefing
Date: 26 July 2001
By
AMERICASBRAZIL: PETROCHEMICAL CONTROL In a move to consolidate local holdings, the Brazilian engineering and petrochemicals companies Odebrecht and Grupo Mariani paid $314 million for control of the country's largest basic petrochemical complex, Petroquímica do Nordeste. The consortium, which already held a minority stake in the petrochemicals maker, known as Copene, was the only bidder in the government auction of 23.73 percent of the company's shares. The central bank twice failed to sell the shares, which it assumed in a 1995 bailout of Banco Económico. Jennifer L. Rich (NYT) EUROPE BRITAIN: LENDER'S RESULTS DISAPPOINT Abbey National's first-half profit rose 12 percent, less than analysts had expected, after Abbey National, one of Britain's largest mortgage lenders, said it had set aside more money than expected to cover potential defaults by United States corporate borrowers. Net income rose to £698 million ($994 million), or 47 pence a share, compared with £626 million, or 42 pence, last year. Analysts had expected a 14 percent rise in income. The bank, whose planned merger with Lloyds TSB was recently blocked by regulators, said it had set aside £64 million to cover potential loan losses in the United States. Abbey National shares fell 10 percent. Suzanne Kapner (NYT) BRITAIN: BSKYB LOSS GROWS As it spends heavily to attract viewers to its digital service, the British satellite broadcaster BskyB posted widening losses for the fiscal fourth quarter, its ninth successive quarterly loss, but said it had increased its subscriptions a fifth over the full year. Its shares rose as much as 2.1 percent. The company said it had increased spending on sports, movies, entertainment and interactive services to draw new customers and had expanded its subscriptions 22 percent, to 5.45 million, well ahead of rivals. But fourth-quarter losses were $244 million, roughly a third more than in the period a year ear
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Computer Files on Recount to Be Released
Date: 26 July 2001
By Dana Canedy
Dana Canedy
Katherine Harris, Florida secretary of state, reverses her position and says she will allow reporters to inspect hard drives of computers used to draft correspondence in presidential stalemate last November; says she wants to 'remove any doubts' about her compliance with open-records laws; article about handling of overseas absentee ballots during election prompts Harris's latest decision; Harris maintains her actions during election were 'fair, consistent and evenhanded'; photo (M)
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World Briefing | Africa: Zimbabwe: Crackdown On BBC Journalists
Date: 27 July 2001
By Rachel L. Swarns (NYT)
Rachel Swarns
Zimbabwe government suspends accreditation of BBC correspondents, citing 'distortions and misrepresentations' in reporting; move is latest crackdown on foreign journalists, who have criticized government's support of black militants who have invaded white-owned farms and threatened white businessmen and opposition party members (S)
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NTELOS WILL BUY CONESTOGA FOR $408 MILLION
Date: 26 July 2001
By Bloomberg News
Bloomberg News
Ntelos Inc, provider of telecommunications services, acquires Conestoga Enterprises Inc for $408 million in stock and cash; will assume $73 million indebt (S)
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PERFORMANCE FOOD IS BUYING SPRINGFIELD FOODSERVICE
Date: 27 July 2001
By Bloomberg News
Bloomberg News
The Performance Food Group, a food wholesaler, said yesterday that it had agreed to buy a food distributor, Springfield Foodservice, for $70 million to expand in the Northeast. Performance said it would pay $42 million in stock and $28 million in cash, and assume $15 million in debt for Springfield, which is closely held. Performance, based in Richmond, Va., will get a 140,000-square-foot distribution center in Springfield, Mass., where Springfield Foodservice is based. Springfield Foodservice has 150 employees and ships food to restaurants and schools in Massachusetts, Connecticut and New York.
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AFLAC SHARES DECLINE AS GROWTH IN JAPAN SLOWS
Date: 26 July 2001
By Bloomberg News
Bloomberg News
Aflac Inc says profit fell to $153 million in fiscal first quarter from $202 million year earlier; sales were flat at $2.3 billion; shares fall $3.35, to $28.20 per share (S)
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BOSTON SCIENTIFIC INVESTS IN ENDOTEX, A MAKER OF STENTS
Date: 26 July 2001
By Bloomberg News
Bloomberg News
Boston Scientific Corp, which makes artery-clearing devices, is collaborating with Endotex International Systems Inc on products used to widen blood vessles in neck; Boston Scientific will make undisclosed investment in Endotex and has exclusive option to buy company (S)
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SONIC AUTOMOTIVE IS BUYING 5 DEALERSHIPS IN 2 STATES
Date: 27 July 2001
By Bloomberg News
Bloomberg News
Sonic Automotive, the second-largest publicly held auto-dealer group in the nation, is buying five dealerships in California and Texas with $275 million in combined annual sales. Terms were not disclosed. The company is buying Buena Park Honda, Harbor City Honda and West Covina Toyota in Los Angeles; Capitol Ford in San Jose, Calif.; and Nils Sefeldt Volvo in Houston. Sonic, based in Charlotte, N.C., has 165 franchises and 30 collision-repair centers. It generated 2000 sales of $6.05 billion. It ranks behind AutoNation of Fort Lauderdale, Fla., which has more than 400 franchises.
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EXXON MOBIL CHIEF TO STAY PAST RETIREMENT AGE
Date: 26 July 2001
By Bloomberg News
Bloomberg News
Lee Raymond, Exxon Mobil Corp's chairman and chief executive, will remain with company beyond his planned retirement in 2003 to give board more time to find successor (S)
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