Takeover of publisher delayedCanadian cable giant Rogers...


February 05, 1994

Takeover of publisher delayed

Canadian cable giant Rogers Communications Inc. yesterday delayed the launch of a multibillion-dollar takeover bid for publisher Maclean Hunter Ltd. because of a dispute over which Maclean Hunter shares would be included.

Rogers' board agreed in principle to take over the venerable publishing group yesterday, but said that it cannot decide on a bid price or terms until the conflict is resolved.

Analysts believe the dispute may be a tactic by Maclean Hunter to put the brakes on Rogers' surprise grab for the company while it works out defensive tactics.

Alpha 1 Biomedicals' losses grow

Alpha 1 Biomedicals Inc., a Bethesda maker of pharmaceutical products for immune system disorders, said that its loss widened to $2.28 million, or 26 cents a share, in the fourth quarter, from $1.02 million, or 14 cents, a year ago.

For the year, Alpha's loss widened to $5.64 million, or 68 cents a share, from $4.16 million, or 57 cents, in 1992.

Murdoch plans to sell Boston paper

Rupert Murdoch said yesterday that he would sell the Boston Herald to its publisher of the last 10 years, Patrick Purcell.

The sale will clear the way for Mr. Murdoch to buy back the local Fox television station, WFXT. He was forced to sell the station in 1989 by the Federal Communications Commission, which prohibits companies from owning two media outlets in the same market.

The terms of the sale were not disclosed.

The Herald's rival, the Boston Globe, was bought by the New York Times Co. in October.

Herman's reorganization plan OK'd

Herman's Sporting Goods Inc. said yesterday that it had reached agreement with its creditors on a reorganization plan, clearing the way for the chain to emerge from bankruptcy protection this summer.

The company, based in Carteret, N.J., has begun closing most of its stores outside the Boston-Washington corridor, slashing expenses and reconfiguring its data processing systems.

Jaguar to lease used cars

Jaguar said yesterday it will follow rival luxury car companies Lexus and BMW into the used-car leasing business.

Michael Dale, president of Jaguar Cars USA, said the automaker will introduce the program next year to coincide with the return of thousands of Jaguar vehicles coming off a two-year lease program.

Last year Jaguar launched a $579-month lease program to compete with similar deals by BMW, Lexus and Cadillac.


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