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Comsat Corp

BUSINESS
November 18, 1994
Hilton considers auction blockHilton Hotels Corp. said yesterday it is exploring the possible sale of the hotel and casino company, in a move that analysts said would value the firm at more than $4.8 billion.The upscale hotel chain's stock shot up $10, to $67.875, on the New York Stock Exchange with more than 1.5 million shares changing hands. Hilton, one of the world's largest hoteliers, said it hired Wall Street firm Smith Barney as financial adviser to study strategic options.Aegon enters Mexican marketAegon N. V. said yesterday it had signed an agreement with a Mexican company to enter the insurance market in that nation.
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BUSINESS
By Michael Dresser and Michael Dresser,Sun Staff Writer | April 22, 1995
Comsat Corp., the Bethesda-based communications satellite and entertainment company, reported the type of quarter that tests investors' patience yesterday, reporting a 28 percent earnings decline while insisting the company's long term plans are on course.First-quarter earnings came to $22.9 million, or 31 cents a share, down from $32 million in the same quarter a year ago, or 43 cents a share. Revenues rose 4 percent to $207.9 million, compared with $200.5 million in the first quarter last year.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 16, 1999
Comsat Corp., the satellite communications company that plans to be taken over by Bethesda neighbor Lockheed Martin Corp., said yesterday that its third-quarter earnings and revenue were down from last year.Comsat posted a net loss of $18.4 million, or 35 cents per diluted share, compared with net income of $6.6 million -- 12 cents per share -- in the comparable quarter of 1998. The earnings figures for the quarter that ended Sept. 30 were dragged down by one-time factors, including a $36 million write-off of its direct investment in ICO Global Communications Ltd. and $5.3 million in costs related to the pending acquisition by Lockheed.
BUSINESS
June 3, 1995
Utah lawyer favored for SECA veteran Utah lawyer is the apparent front-runner for a Republican seat on the Securities and Exchange Commission, which will have three vacancies at the end of the month.Sen. Orrin Hatch, R-Utah, is formally backing Norman S. Johnson, 64, of Salt Lake City to join the five-member commission, Hatch spokesman Paul Smith said yesterday. Mr. Johnson said Sen. Bob Dole, R-Kan., forwarded his name to President Clinton in a May 16 letter.Comsat considers stock saleComsat Corp.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | March 11, 2000
Lockheed Martin Corp.'s $2.5 billion purchase of Comsat Corp. won final congressional approval Thursday night as the House of Representatives approved by voice vote a bill that would bring important changes to the satellite-communications industry. The legislation passed in the Senate on March 2 and now goes before President Clinton, who has until March 22 to sign it. The Federal Communications Commission and the Department of Justice also must review the proposed union of the two Bethesda companies.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | March 4, 2000
Lockheed Martin Corp's proposed $2.5 billion purchase of Comsat Corp. took a step closer to fruition when the U.S. Senate approved legislation that would allow the joining of the two Bethesda companies. The bill, which would also remove some of Comsats privileges as a provider of communications-satellite access, was approved by the Senate late Thursday by unanimous consent. The House of Representatives is expected to approve the measure Wednesday. Senate and House leaders produced a compromise bill Feb. 17 that ironed out differences between the two chambers versions of satellite legislation.
BUSINESS
September 2, 1994
Economy slows, but inflation doesn'tThe economy cooled in August but not enough to put the freeze on inflation, a widely followed survey of industrial companies showed yesterday.The National Association of Purchasing Management's August report showed activity at the nation's factories expanded at a much weaker pace than any time in the past eight months, suggesting that the economy is slowing down.But the survey showed the number of firms reporting higher prices for raw materials rose to the highest level in six years, suggesting that inflation pressures still menace the economy.
BUSINESS
By Edward Gunts | December 4, 1991
The First Maryland Building at 25 S. Charles St., Heaver Plaza in Lutherville and the PHH Corp. headquarters in Hunt Valley have been named the 1991 Buildings of the Year by the Building Owners and Managers Association of Baltimore.BOMA judges also selected The Brokerage at the Inner Harbor complex to receive a special award for its management by W. C. Pinkard & Co.These and other local buildings will receive Awards of Excellence during the 14th annual BOMA award ceremonies today starting at 6:30 p.m. at the Baltimore Museum of Art. More than 100 local office buildings were considered for awards, which recognize excellence in management and operations.
BUSINESS
June 4, 1994
Auto sales up 2.9 percent in MayU.S. sales of cars and trucks during May rose 2.9 percent over a year earlier but slipped from their torrid pace in March and April as dealers ran short of a number of popular models, automakers said yesterday.Automakers sold a total of 1.35 million cars and trucks in the United States during May, up from 1.32 million a year earlier.But the seasonally adjusted annual sales rate for the month fell to 14.6 million units, down from 15.9 million in March and 15.3 million in April.
BUSINESS
August 5, 1995
Local publisher is purchasedAdvance Publications Inc. agreed to acquire American City Business Journals Inc., the publisher of 28 local weekly business newspapers including the Baltimore Business Journal, for about $268.8 million, the companies said yesterday.The agreement calls for Advance Publications, a privately held media company controlled by the Newhouse family, to pay $28 per share for American City Business Journals' 9.6 million common shares.Advance Publications owns 22 daily newspapers, the book publisher Random House, the New Yorker magazine and Conde Nast Publications, the publisher of magazines including Vogue, Vanity Fair and Architectural Digest.
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