MediaTalk; PBS Anchor: Network News Is Expendable
Date: 20 May 2002
By Andrew Ross Sorkin
Andrew Sorkin
PBS television news anchor Jim Lehrer says we may be moving to time when major commercial broadcast networks will get out of news business and leave informing to others, University of Pennsylvania commencement speech; questions focus of all-news cable channels; photo (M)
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World Business Briefing | Europe: Britain: Broadcaster Declines Share Buyback
Date: 21 May 2002
By Desmond Butler (NYT)
Desmond NYT
British Sky Broadcasting Group, controlled by Rupert Murdoch's News Corp, says its attempt to exercise put options, which would force insolvent KirchpayTV to buy back BSkyB's 22 percent stake for $1.5 billion is rejected (S)
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PRESCRIPTION MANAGER RAISES PROFIT FORECAST FOR YEAR
Date: 21 May 2002
By Bloomberg News
Bloomberg News
MIM Corp, which manages prescription drug benefits for insurance companies and health care providers, raises its profit forecast for year; expects sales of $620 million this year, 36 percent increase from $456.7 million in 2001 (S)
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QUANTA SERVICES AND AQUILA SETTLE PROXY FIGHT
Date: 21 May 2002
By Bloomberg News
Bloomberg News
Quanta Services reaches agreement that will end hostile bid by Aquila, energy trader that is its largest shareholder, to control Quanta's board; Aquila will end its proxy contest for control of board and will withdraw all litigation and arbitration; also agrees not to buy Quanta's shares on open market or begin another fight for control of board (S)
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KMART SPENT UP TO $1 BILLION ON CLOSING OF STORES
Date: 21 May 2002
By Bloomberg News
Bloomberg News
Securities and Exchange Commission filing shows Kmart Corp spent as much as $1.05 billion in first quarter to prepare to close hundreds of stores; says company spent $600 million to $800 million in quarter ended May 1 for planned closing of 283 stores; adds Kmart had additional $250 million in expenses from discounting merchandise sold at going-out-of-business sales (S)
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MAKER OF HEFTY BAGS AGREES TO BUY PACKAGING COMPANY
Date: 21 May 2002
By Bloomberg News
Bloomberg News
Pactiv Corp acquires Winkler Forming for about $72.5 million to expand its wholsale bakery, confectionery and fresh-produce packaging business (S)
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LANDRY'S TO BUY 39 RESTAURANTS FROM CHART HOUSE
Date: 21 May 2002
By Bloomberg News
Bloomberg News
Landry's Seafood Restaurants acquires 39 restaurants from Chart House Enterprises for $45.5 million (S)
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World Business Briefing | Europe: Russia: Gazprom Endorses Auditor
Date: 21 May 2002
By Bloomberg News
Bloomberg News
Gazprom's board recommends PricewaterhouseCoopers continue as auditor, ignoring shareholder criticism that accounting firm failed to reveal billions of dollars of losses at Gazprom; photo (S)
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Technology Briefing | Software: Advent Financial Chief Will Retire
Date: 21 May 2002
By Bloomberg News
Bloomberg News
Advent Software's chief financial officer Irv Lichtenwald will retire at end of August; company's shares fall as much as 12 percent; photo (S)
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Chrysler Warns About Sales in Canada
Date: 21 May 2002
By Bloomberg News
Bloomberg News
Chrysler unit of DaimlerChrysler starts notifying dealers that it will stop honoring warranties for 2003 model year on new cars and trucks bought in Canada for use in US because sales reduce automaker's profit (S)
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