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BUSINESS
March 5, 1996
Bethesda-based Host Marriott Corp. said yesterday that it has reached a settlement agreement with the last of its bondholders who were challenging the 1993 spinoff of Marriott International, Inc.The lodging real estate company said it will pay PPM America Inc. and several other institutional investors a total of $1.25 million in exchange for the bondholders' withdrawal of their appeal and all claims.The bondholders, led by PPM, tried unsuccessfully to convince a Baltimore jury in late 1994 that Marriott Corp.
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BUSINESS
By Robert Channick, Tribune Newspapers | August 4, 2014
Tribune Co. completed the spinoff Monday of Tribune Publishing Co., which includes The Baltimore Sun and nine other daily newspapers. Tribune is just the latest multimedia news company to split up its broadcasting and publishing assets, joining Rupert Murdoch's News Corp. and E.W. Scripps, which completed such a spinoff just last week. Such separation is gaining momentum as traditional media seek to adapt to the fast-evolving digital landscape. An amicable corporate divorce is generally seen as best for both sides, streamlining them to compete against new media behemoths such as Google.
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BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | July 28, 1993
Breaking up is -- relatively -- easy to do.The corporate spinoff is the 1990s method of shedding an unwanted business to boost overall shareholder value. There's been a rush of activity, with nine spinoffs this year and 32 pending.In a spinoff, a firm breaks itself up and leaves shareholders with stock in two separate companies instead of one. Or it may sell stock to the public to establish a value and then spin it off.This year's plans by famous parent firms such as Sears, Litton Industries, Marriott and Pacific Telesis are examples of such restructuring strategies.
FEATURES
By Dave Rosenthal | August 7, 2012
In the latest example of the trend of spinning off movies, music and more from books, author E.L. James has selected an album of classical music featured in her "Fifty Shades of Grey" trilogy. Baltimore Sun music critic Tim Smth says it's sure to bring a much wider audience to masterworks. Smith notes that one of the pieces mentioned in "Fifty Shades," a years-old recording of music from Thomas Tallis, has hit No. 1 on the UK Classical Singles Chart. James chose 15 pieces for the album, which will be released digitally on Aug. 15; the CD will be released Sept.
BUSINESS
December 14, 1995
Ascent Entertainment Group Inc., a spinoff of Bethesda-based Comsat Corp., made its stock market debut yesterday, but its shares didn't quite live up to the name.The former Comsat Entertainment Group's stock went public at $15 and closed at $15.375, a respectable showing but hardly a match for such skyrocketing initial public offerings as Netscape Corp.John S. Reidy, an analyst for Smith Barney, said the trading showed that the offering was neither under-priced nor overpriced. Smith Barney was co-manager of the offering, along with Allen & Co.Mr.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer Bloomberg Business News contributed to this article | March 30, 1995
Host Marriott Corp. of Bethesda said yesterday that it may spin off its airport and toll road concession business or otherwise restructure as the company tries to decide whether the restaurant and gift shops fit into a strategy built around buying luxury hotels."
BUSINESS
By Andrew Leckey | August 23, 1995
General Motors announcing the spinoff of its EDS subsidiary.Sears Corp. completing the spinoff of AllState Corp.General Mills Inc. spinning off Darden Restaurants.Sprint Corp. announcing the spinoff of Sprint Cellular.Viacom Inc. spinning off Liberty Media.Corporate America appears to be spinning out of control in 1995, and individual investors can reap significant profit from the result.More than $16.7 billion in corporate spinoffs have been closed this year, that coming on the heels of a record $22 billion last year.
FEATURES
By Steve McKerrow and Steve McKerrow,SUN STAFF | September 30, 1995
It's a night of firsts: "Baywatch," "The John Larroquette Show" and "Saturday Night Live" offer season premieres, and two new hTC series also make their debut, including "Baywatch Nights" in syndication and "The Home Court" on NBC.*"Baywatch" (6 p.m.-7 p.m., WNUV, Channel 54) -- As Maxwell Smart used to say, would you believe this is the world's most popular television show? The syndicated series about lifeguards in California -- sometimes called "Babewatch" or "Bodywatch" -- is seen in more than 100 countries and launches a new season with David Hasselhoff continuing as beach boss.
BUSINESS
By Lorraine Mirabella, Gus G. Sentementes and Eileen Ambrose and Lorraine Mirabella, Gus G. Sentementes and Eileen Ambrose,lorraine.mirabella@baltsun.com, Gus.Sentementes@baltsun.com and Eileen.Ambrose@baltsun.com | November 3, 2009
The Baltimore area has seen corporate headquarters disappear before, but the loss of Black & Decker in a corporate merger could hurt more than most in terms of prestige, spinoff jobs and charitable giving, local leaders say. Allan Tibbels, co-executive director of Sandtown Habitat for Humanity, was left wondering what the proposed deal will mean for his nonprofit, which rebuilds housing in West Baltimore. The organization has benefited from Black & Decker's charitable contributions for years, as the manufacturer has donated power tools, employee volunteer hours and funding, Tibbels said.
BUSINESS
By BLOOMBERG BUSINESS NEWS | April 2, 1996
DETROIT -- General Motors Corp.'s board yesterday approved a spinoff of Electronic Data Systems, ending an uneasy 12-year marriage and freeing the computer-services business to hunt for acquisitions.EDS, founded in 1962 by Dallas billionaire Ross Perot, said the spinoff will result in the elimination of up to 5,000 jobs, including 2,200 firings, in the next few months.Plano, Texas-based EDS agreed to make a one-time payment of $500 million to GM, less than some analysts predicted that it would cost to break free from the nation's biggest automaker.
ENTERTAINMENT
By David Zurawik, The Baltimore Sun | March 21, 2012
It's a cold, gray Friday afternoon in a dark and drafty concrete warehouse at an industrial park in Columbia. Not exactly the setting in which anyone would expect to find glamour, wit or the next big thing in pop culture. But through a series of doors built into a maze of temporary walls and stage flats, there's a group of a dozen tall director's chairs bearing Vice President of the United States seals set in two ragged rows along with a bank of TV monitors and warming lights. And in the center of the first row, sitting sideways in a black power suit coat and skirt, legs casually crossed, is Julia Louis-Dreyfus, star of HBO's new political satire "VEEP.
BUSINESS
By Hanah Cho, The Baltimore Sun | November 3, 2011
A top Exelon Corp. executive said Thursday that separating Baltimore Gas and Electric Co. from parent Constellation Energy Group would be a "deal breaker" for the proposed $7.9 billion merger between the two energy giants. Exelon Chief Operating Officer Christopher M. Crane's remark came after two Maryland senators called on state energy regulators to order the spinoff of BGE into an independent, publicly traded company as a condition of merger approval. In a letter sent Thursday to the Maryland Public Service Commission — which has the power to veto the deal — Sens.
NEWS
March 7, 2011
The old General Motors Corp. has agreed to pay $2.5 million towards cleanup of a former dump in Rosedale under a nationwide settlement of pollution claims with the federal government. The U.S. attorney's office in Detroit and the Environmental Protection Agency announced a $51.4 million deal with the spin-off of the automaker covering cleanup of 34 sites in 11 states. Old General Motors was split in two when it emerged from bankruptcy protection in July 2009. "Old GM," now called Motors Liquidation Co., got much of GM's debt, closed factory sites and liabilities, while General Motors Co. emerged as the new company making cars and trucks.
NEWS
By Sam Sessa, The Baltimore Sun | May 7, 2010
The Charles Theatre is the hub of this weekend's Maryland Film Festival, but it isn't the only place to find quirky and under-the-radar cinema. Several neighborhood bars and clubs, such as the Metro Gallery, Hexagon and Windup Space, are hosting film festival spinoffs and overflow screenings from the weekend-long event. It's further proof of how, in the past five years, the Station North Arts and Entertainment District has begun to live up to its name as a home for cutting-edge culture.
BUSINESS
By By Jamie Smith Hopkins | The Baltimore Sun | February 27, 2010
Debt-collection law firm Mann Bracken, which threw the courts and the collections industry into disarray after abruptly shutting its doors last month, has been placed into receivership and will have its assets liquidated. Receivership, an unusual step in Maryland, is an alternative to filing for bankruptcy protection. The firm's attorney, James M. Hoffman, said a receiver was appointed Thursday by the Montgomery County Circuit Court at Mann Bracken's request. "Mann Bracken believed that the Circuit Court receivership was the best way to benefit clients, creditors and third parties," said Cheryl E. Rose, the receiver.
BUSINESS
By Lorraine Mirabella, Gus G. Sentementes and Eileen Ambrose and Lorraine Mirabella, Gus G. Sentementes and Eileen Ambrose,lorraine.mirabella@baltsun.com, Gus.Sentementes@baltsun.com and Eileen.Ambrose@baltsun.com | November 3, 2009
The Baltimore area has seen corporate headquarters disappear before, but the loss of Black & Decker in a corporate merger could hurt more than most in terms of prestige, spinoff jobs and charitable giving, local leaders say. Allan Tibbels, co-executive director of Sandtown Habitat for Humanity, was left wondering what the proposed deal will mean for his nonprofit, which rebuilds housing in West Baltimore. The organization has benefited from Black & Decker's charitable contributions for years, as the manufacturer has donated power tools, employee volunteer hours and funding, Tibbels said.
BUSINESS
By BLOOMBERG BUSINESS NEWS | August 29, 1996
KANSAS CITY, Mo. -- H&R Block Inc. said yesterday that it has postponed the spinoff of its remaining stake in CompuServe Corp., gambling that the money-losing unit will be able to stem customer defections to cheaper Internet services.The company said it still intends to separate CompuServe from its tax-preparation business. The first step is boosting the unit's stock: Since H&R Block sold a 20 percent stake in an initial public offering in April, CompuServe's shares have plunged 56 percent.
BUSINESS
By BLOOMBERG BUSINESS NEWS | October 19, 1995
WALTHAM, Mass. -- W. R. Grace & Co.'s stock fell 13.1 percent yesterday after the company disclosed that it is under federal investigation over its "health care payments and reimbursements."Virtually all the specialty chemical and health care company's Medicare billings are under scrutiny as part of a broad inquiry that could delay the planned spinoff of Grace's health care unit, two institutional shareholders said.The investigation includes admitted Medicare overbilling by a Grace kidney dialysis laboratory that led the company to reimburse $4.9 million to the government last month, the two shareholders said.
NEWS
By Michael Sragow and Michael Sragow,michael.sragow@baltsun.com | November 28, 2008
Hugh Jackman has achieved legendary success on stages in his native Australia as well as America and England, playing everyone from Curly the singing cowboy in Oklahoma! to gay entertainer Peter Allen in The Boy from Oz. On screen, he's taken a shot at everything from sleazes and sorcerers to lady-killers and superheroes. A pillar of the smash X-Men series as the team's angry, furry young man - the steel-taloned Wolverine - he's breaking off into his own Wolverine series. And in Australia, he holds down the leading-man position in a rare contemporary attempt at a sweeping national melodrama.
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