Hollywood Entertainment to buy Reel.Com

Article Abstract:

Hollywood Entertainment Corporation announced that it has reached an agreement to acquire Reel.Com Inc. Hollywood will pay up to $100 million for the Internet service. Reel.Com is the largest video selling service on the World Wide Web. Of the $100 million purchase price, $30 million of it is in cash and the remainder is in stock. Hollywood had an opportunity to acquire Reel.Com for much cheaper price in 1997.

Comment:

Hollywood Entertainment Corporation announced that it has reached an agreement to acquire Reel.Com Inc. for $100 million

Asset sales & divestitures, Acquisitions & mergers, Company Planning/Goals, Video Retailing Service, All Other Information Services, Prerecorded Tape, Compact Disc, and Record Stores, Videotape Sales & Rental Stores, Home shopping, Video stores, Hollywood Entertainment Corp., Article, Reel.Com Inc.

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Bankers Trust says it illegally diverted unclaimed money

Article Abstract:

Thirteen executives, now former employees, of Bankers Trust Co. misused unclaimed funds, resulting in a guilty plea and hefty fines. Almost $20 million was diverted to the bank's own books between 1994 and 1996 to make its own performance look better. A $60 million fine will be paid to the federal government and $3.5 million to New York State.

Comment:

Bank will pay fines of over $60 million to federal gov't and NY state

Commercial Banks, Commercial Banking, Legal issues & crime, Banking industry, Cases, Discipline, Abstract, Ethical aspects, Bank fraud, Bankers Trust Corp.

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