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By New York Times News Service | November 11, 1992
TOKYO -- Japan's largest consumer electronics company has reached an agreement with the U.S. Internal Revenue Service on a formula for calculating its American taxes. The accord uses a new method for reducing disputes over the taxation of multinational corporations, company officials and Japanese tax authorities said yesterday.The agreement comes as President-elect Bill Clinton and members of Congress have been accusing foreign companies that operate in the United States of avoiding taxes by shifting their profits offshore.
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BUSINESS
By New York Times News Service | April 7, 1995
Seagram Co. has agreed to pay $7 billion to buy 80 percent of the movie and entertainment company MCA Inc. from Matsushita Electric Industrial Co., people close to the deal said yesterday.Matsushita acquired MCA in 1990, during the heady days of Japanese investment in the United States, but has agreed to cede control after failing to master the vagaries of Hollywood and a disgruntled U.S. management team.The money for the acquisition will come from the sale by Seagram of nearly all its 25 percent stake in DuPont for $8.8 billion in cash.
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BUSINESS
By Leslie Helm and Leslie Helm,Los Angeles Times | November 27, 1990
TOKYO -- The acquisitions by Sony Corp. and Matsushita Electric Industrial Co. of two of Hollywood's crown jewels, Columbia Pictures and MCA, are likely to strengthen Japan's hand in directing debates over key issues in entertainment.While Sony and Matsushita are fierce competitors, they have a history of working closely together when they have interests in common. Sony Chairman Akio Morita and Matsushita founder Konosuke Matsushita, for example, jointly authored a book in 1976 about the need for reform in Japan.
BUSINESS
By New York Times News Service | November 11, 1992
TOKYO -- Japan's largest consumer electronics company has reached an agreement with the U.S. Internal Revenue Service on a formula for calculating its American taxes. The accord uses a new method for reducing disputes over the taxation of multinational corporations, company officials and Japanese tax authorities said yesterday.The agreement comes as President-elect Bill Clinton and members of Congress have been accusing foreign companies that operate in the United States of avoiding taxes by shifting their profits offshore.
NEWS
By The Los Angeles Times | January 4, 1991
SECRETARY of the Interior Manuel Lujan only wants the best deal he can get on a concessionaire's holdings at Yosemite National Park. And that's OK. But the way he is going about it sometimes sounds suspiciously like Japan-bashing.The fuss involves the sale of MCA Inc., an entertainment giant, to Matsushita Electric Industrial Co., an electronics giant. With MCA go the hotels, restaurants and other enterprises operated by Yosemite Park & Curry Co., whose contract with the Park Service expires in 1993.
BUSINESS
By Los Angeles Daily News | November 15, 1990
MCA Inc.'s stock has jumped on speculation that Japan's Matsushita Electric Industrial Co. will acquire the Universal City, Calif.-based entertainment company by the end of the year.Officials of MCA and Matsushita are scheduled to begin meeting in New York by early next week in hopes of reaching an agreement in principle, according to reports in the Wall Street Journal and the Los Angeles Times.Neither company would comment on the reports. An MCA official said that the company's president, Sidney Sheinberg, was scheduled to leave for New York late yesterday and that Chairman Lew Wasserman would join him today.
NEWS
By Geraldine Fabrikant and Geraldine Fabrikant,New York Times News Service | November 25, 1990
NEW YORK -- MCA Inc., one of the nation's largest entertainment companies, and the Matsushita Electric Industrial Co. of Japan are expected to announce as early as today that they will merge.The board of MCA, which owns Universal Studios, Universal Pictures and MCA Records, will meet in New York today and is expected to accept Matsushita's offer, which is believed to total $6.7 billion to $6.9 billion, mostly in cash. For stockholders, such a deal would value their shares at $72 to $74.Matsushita is known to have offered $70 a share, while MCA was seeking $75. In recent days the stock has been trading in the high $60s.
BUSINESS
By Los Angeles Times | December 22, 1990
In a surprise move that could complicate Matsushita Electric Industrial Co.'s purchase of MCA Inc., Secretary of the Interior Manuel Lujan Jr. has ordered a thorough review of the implications for an MCA subsidiary that operates tourist facilities in Yosemite National Park.Mr. Lujan's order concerns the Yosemite Park & Curry Co. MCA and Matsushita have said that they would put the company in escrow until it could be sold to an American buyer, but Mr. Lujan has put pressure on both companies to donate the concession to the National Park Service.
BUSINESS
By Los Angeles Daily News | September 29, 1990
LOS ANGELES -- MCA Inc.'s stock price has dropped for the second straight day amid speculation that formal buyout talks with Matsushita Electric Industrial Co. will begin next week.The company's stock closed yesterday at 58 3/4 , down 1/4 , as volume slowed to half of the previous day's trading. But MCA shares were still up 24 1/4 points since the company acknowledged Tuesday that it was talking to a potential buyer.MCA executives had no comment on a Wall Street Journal report that principals of the two companies are to meet late next week to begin negotiating a $7.3 billion to $8.7 billion acquisition of the entertainment company based in nearby Universal City.
BUSINESS
By New York Times News Service | April 7, 1995
Seagram Co. has agreed to pay $7 billion to buy 80 percent of the movie and entertainment company MCA Inc. from Matsushita Electric Industrial Co., people close to the deal said yesterday.Matsushita acquired MCA in 1990, during the heady days of Japanese investment in the United States, but has agreed to cede control after failing to master the vagaries of Hollywood and a disgruntled U.S. management team.The money for the acquisition will come from the sale by Seagram of nearly all its 25 percent stake in DuPont for $8.8 billion in cash.
NEWS
By The Los Angeles Times | January 4, 1991
SECRETARY of the Interior Manuel Lujan only wants the best deal he can get on a concessionaire's holdings at Yosemite National Park. And that's OK. But the way he is going about it sometimes sounds suspiciously like Japan-bashing.The fuss involves the sale of MCA Inc., an entertainment giant, to Matsushita Electric Industrial Co., an electronics giant. With MCA go the hotels, restaurants and other enterprises operated by Yosemite Park & Curry Co., whose contract with the Park Service expires in 1993.
BUSINESS
By Los Angeles Times | December 22, 1990
In a surprise move that could complicate Matsushita Electric Industrial Co.'s purchase of MCA Inc., Secretary of the Interior Manuel Lujan Jr. has ordered a thorough review of the implications for an MCA subsidiary that operates tourist facilities in Yosemite National Park.Mr. Lujan's order concerns the Yosemite Park & Curry Co. MCA and Matsushita have said that they would put the company in escrow until it could be sold to an American buyer, but Mr. Lujan has put pressure on both companies to donate the concession to the National Park Service.
BUSINESS
By Leslie Helm and Leslie Helm,Los Angeles Times | November 27, 1990
TOKYO -- The acquisitions by Sony Corp. and Matsushita Electric Industrial Co. of two of Hollywood's crown jewels, Columbia Pictures and MCA, are likely to strengthen Japan's hand in directing debates over key issues in entertainment.While Sony and Matsushita are fierce competitors, they have a history of working closely together when they have interests in common. Sony Chairman Akio Morita and Matsushita founder Konosuke Matsushita, for example, jointly authored a book in 1976 about the need for reform in Japan.
NEWS
By Geraldine Fabrikant and Geraldine Fabrikant,New York Times News Service | November 25, 1990
NEW YORK -- MCA Inc., one of the nation's largest entertainment companies, and the Matsushita Electric Industrial Co. of Japan are expected to announce as early as today that they will merge.The board of MCA, which owns Universal Studios, Universal Pictures and MCA Records, will meet in New York today and is expected to accept Matsushita's offer, which is believed to total $6.7 billion to $6.9 billion, mostly in cash. For stockholders, such a deal would value their shares at $72 to $74.Matsushita is known to have offered $70 a share, while MCA was seeking $75. In recent days the stock has been trading in the high $60s.
BUSINESS
By Los Angeles Daily News | November 15, 1990
MCA Inc.'s stock has jumped on speculation that Japan's Matsushita Electric Industrial Co. will acquire the Universal City, Calif.-based entertainment company by the end of the year.Officials of MCA and Matsushita are scheduled to begin meeting in New York by early next week in hopes of reaching an agreement in principle, according to reports in the Wall Street Journal and the Los Angeles Times.Neither company would comment on the reports. An MCA official said that the company's president, Sidney Sheinberg, was scheduled to leave for New York late yesterday and that Chairman Lew Wasserman would join him today.
BUSINESS
By David E. Sanger and David E. Sanger,New York Times News Service | September 30, 1990
TOKYO -- For years it has been the stuff of Japanese industrial legend: the bitter struggle between the plodding Matsushita Electric Industrial Co. and the upstart, innovative Sony Corp., a fight that began with transistor radios and over the decades spread to the Walkman, the video camera and high-definition television.1% Now that same rivalry, played outmostly in the winding back streets of Tokyo and Osaka, appears headed for Hollywood, where it could change forever the structure of the American entertainment industry.
BUSINESS
By David E. Sanger and David E. Sanger,New York Times News Service | September 30, 1990
TOKYO -- For years it has been the stuff of Japanese industrial legend: the bitter struggle between the plodding Matsushita Electric Industrial Co. and the upstart, innovative Sony Corp., a fight that began with transistor radios and over the decades spread to the Walkman, the video camera and high-definition television.1% Now that same rivalry, played outmostly in the winding back streets of Tokyo and Osaka, appears headed for Hollywood, where it could change forever the structure of the American entertainment industry.
BUSINESS
November 9, 1992
A small California start-up company, EO Inc., has unveiled the first "personal communicator," a hand-held device that combines the capabilities of a pager, phone, fax, computer and electronic organizer.The device, to be available in the second quarter of next year, will be priced from $1,999 to $3,299, depending on options.In addition to AT&T, EO is backed by two Japanese companies, Matsushita Electric Industrial Corp., which makes Panasonic products, and Marubeni Corp., a Japanese trading company.
BUSINESS
By Los Angeles Daily News | September 29, 1990
LOS ANGELES -- MCA Inc.'s stock price has dropped for the second straight day amid speculation that formal buyout talks with Matsushita Electric Industrial Co. will begin next week.The company's stock closed yesterday at 58 3/4 , down 1/4 , as volume slowed to half of the previous day's trading. But MCA shares were still up 24 1/4 points since the company acknowledged Tuesday that it was talking to a potential buyer.MCA executives had no comment on a Wall Street Journal report that principals of the two companies are to meet late next week to begin negotiating a $7.3 billion to $8.7 billion acquisition of the entertainment company based in nearby Universal City.
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