Reluare marți, 2 mai 1995

F.C.C. Rejects Effort to Curb Murdoch Role

Date: 03 May 1995

By Edmund L. Andrews

Edmund Andrews

Federal regulators have decided against forcing Rupert Murdoch to revamp his company to comply with foreign-ownership rules for its American television broadcasting licenses, giving a crucial victory to Mr. Murdoch in what has been a serious legal threat to his media empire. An agency official said that at least three of the five members of the Federal Communications Commission had rejected a staff recommendation that the News Corporation, Mr. Murdoch's Australian-based conglomerate, be forced to make a drastic reduction in its ownership of eight television stations that form the nucleus of the Fox television network.

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Award to Late Times Columnist

Date: 02 May 1995

Leonard S. Silk, the late editorial writer and columnist for The New York Times, was named winner last night of the G. and R. Loeb Foundation's lifetime achievement award, which honors a journalist for exceptional career achievements in business, financial and economic news. "Leonard Silk was the founding father of economic journalism," said William P. Pierskalla, dean of the John E. Anderson Graduate School of Management at the University of California at Los Angeles, which administers the Loeb awards. "He set a standard for a generation of journalists" in making difficult concepts understandable, he said.

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Real Estate; Two companies are planning expansions at Hudson Street buildings in which they're tenants.

Date: 03 May 1995

By Peter Slatin

Peter Slatin

TENANTS at 395 and 345 Hudson Street -- Thomson Financial Services and the Bowne Company of New York -- are expanding within their buildings. Thomson Financial is a unit of the Thomson Corporation, the big media company based in Toronto. Thomason Financial plans to move its Warren, Gorham & Lamont publishing subsidiary from One Penn Plaza to the fourth floor of 395 Hudson, on the block between West Houston and Clarkson Streets, where Thomson occupies the 65,000-square-foot third floor.

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Business Outsider Is Moving In at Times Mirror

Date: 03 May 1995

By William Glaberson

William Glaberson

With a respectful nod to the marketing success of such products as Wheaties and Hamburger Helper, the newly named chief executive of the Times Mirror Company said yesterday that media companies need to "start from the consumer" as they wade into the new media world. Mark H. Willes, a vice chairman of the consumer products and cereal giant General Mills Inc., might seem like a surprising choice to run one of the country's most influential newspaper publishing companies.

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PACIFIC TELESIS AND PACIFIC BELL RATINGS REVIEWED

Date: 02 May 1995

By Bloomberg News

Bloomberg News

The Standard & Poor's Corporation said that it might cut its ratings outlook on about $5.1 billion of debt at Pacific Telesis Group and its Pacific Bell unit. The rating agency said yesterday that the review followed a decision by the California Public Utilities Commission that accelerates local phone competition in California. Pacific Telesis provides telecommunications services in California. Under the commission's decision, long-distance and cable-television companies can enter California's $4 billion local telephone market and compete against Pacific Bell.

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CIBA-GEIGY AND MYRIAD GENETICS FORM ALLIANCE

Date: 02 May 1995

By Bloomberg News

Bloomberg News

Ciba-Geigy said yesterday that it had formed a five-year alliance with Myriad Genetics Inc., valued at as much as $60 million, to seek new genes with therapeutic capabilities. Under the agreement, Ciba will provide $32 million in research and equity financing and a potential $28 million in milestone payments. The collaboration will combine Myriad's gene-finding capabilities with Ciba's United States pharmaceutical research and development facilities, Ciba said. Myriad discovers and commercializes genes involved in disorders including cardiovascular disease, cancer and obesity.

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FLEET UNIT BUYS MORTGAGE SERVICING FROM HOUSEHOLD

Date: 03 May 1995

By Bloomberg News

Bloomberg News

A unit of Fleet Financial Group Inc. bought $13.1 billion of mortgage servicing rights yesterday from Household International Inc. Mortgage servicing rights are the fees that banks earn for collecting homeowners' monthly mortgage payments and passing them on to the institution that owns the loans. Fleet Mortgage Group also agreed to service Household's $1.9 billion portfolio of home mortgages. Fleet's mortgage servicing portfolio is now at $105 billion, up almost 28 percent from the $82.2 billion it held at the end of 1994, according to Gerald L. Baker, chairman and chief executive of Fleet Mortgage.

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GOODYEAR RAISES TIRE PRICES 3 to 8 PERCENT

Date: 02 May 1995

By Bloomberg News

Bloomberg News

The Goodyear Tire and Rubber Company said yesterday that it would raise prices on replacement tires 3 percent to 8 percent because of the rising costs of raw materials. Goodyear, based in Akron, Ohio, said passenger and light-truck tire prices would go up 3 percent. Prices on tires for commercial, truck, farm and industrial uses would rise 3 percent to 5 percent. And off-road vehicle tires would increase 5.5 percent to 8 percent. The increases are effective June 1.

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BREAST IMPLANT MAKERS DISCUSS ADDING TO CLAIMS FUND

Date: 02 May 1995

By Bloomberg News

Bloomberg News

Silicone breast implant manufacturers have begun talks to increase a $4.2 billion fund to pay women reporting injuries from the devices after the judge said the current fund might be too small. The Bristol-Myers Squibb Company, Baxter International Inc., the Dow Corning Corporation and the Minnesota Mining and Manufacturing Company are the largest contributors to the so-called global settlement, which is intended to end hundreds of thousands of potential lawsuits against implant manufacturers. Critics had said before that the fund was too small to pay the promised benefits of $105,000 to $1.4 million to each claimant. United States District Judge Samuel Pointer said yesterday that the fund might be too small to settle all the claims. He urged manufacturers to begin negotiations to increase the size of the fund.

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KEMPER TO BUY DREMAN VALUE FOR ABOUT $35 MILLION

Date: 03 May 1995

By Bloomberg News

Bloomberg News

The Kemper Corporation's money management unit said yesterday that it would buy Dreman Value Management L.P. in a move analysts said was intended to improve the firm's image as a stock picker. Kemper Financial Services Inc. would purchase Dreman Value Management's $1.6 billion of assets under management, including four mutual funds, for about $35 million, according to those familiar with the transaction. Kemper Financial Services, which has about $62 billion in assets, is the 11th-largest United States mutual fund company, although it has been losing assets while the mutual fund industry surged.

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