Hearst-Argyle to pay $520 million in deals for two TV stations

Article Abstract:

Hearst-Argyle Television Inc. has reached an agreement to buy from Kelly Broadcasting Co. a television station and a time-brokerage pact for a second television station. The acquisition price is $520 million. The move is an attempt by Hearst-Argyle to establish itself in the rapidly-expanding television broadcast market in Sacramento, California. Hearst-Argyle will be acquiring Sacramento station KCRA-TV and offer programming for KQCA-TV.

Comment:

Hearst-Argyle buys two Sacramento TV stations from Kelly for $520 million

Asset sales & divestitures, Television Broadcasting, California, Media Planning/Goals, Television broadcasting industry, Hearst-Argyle Television Inc., Kelly Broadcasting Co.

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Wal-Mart to acquire control of 4 stores, 6 sites in South Korea

Article Abstract:

Wal-Mart Stores Inc. announced that it has reached an agreement to acquire a majority share in four stores and six development locations in South Korea. The acquisitions will be the first time that the company has entered into the South Korean market. The financial terms of the deal were not revealed. The stores posted approximately $160 million in sales in 1997. The six development sites are ready for construction.

Comment:

Reaches agreement to acquire a majority share in four stores and six development locations in South Korea

Geographic, All Other Specialty Food Stores, Discount Stores, Wal-Mart Stores Inc.

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Four U.S. fund firms are chosen by Korea for its mutual funds

Article Abstract:

Rothschild Inc. announced that it has been chosen, along with three other asset-management companies based in the US, by South Korea to manage 1.65 trillion won ($1.21 billion) in assets in new government-funded mutual funds. The funds will be used to improve South Korea's economy by granting funding to struggling firms. The funds will exclusively be invested in South Korean stocks and bonds.

Comment:

Chosen, along with three other asset-management companies based in the US, by South Korea to manage govt mutual fund assets

Securities Dealers, Investment Banking and Securities Dealing, New orders received, Legal/Government Regulation, Rothschild North America Inc.

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