Entergy aims to sell London Electricity and Australian utility in big makeover

Article Abstract:

Entergy Corp. of New Orleans, LA, announced its plans to sell UK-based London Electricity and Melbourne, Australia-based CitiPower. Entergy has appointed Lehman Brothers to seek buyer for the firm's home-security subsidiary, which has approximately 200,000 clients in the southeast portion of the US. Likewise, Entergy has hired Warburg Dillon Read to sell CitiPower and appointed Morgan Stanley to sell London Electricity, which was acquired in 1996 by Entergy for $2 billion. Entergy hopes to generate an estimated $4 billion from the sales of some of the firm's operations. Much of the sales' proceeds will be utilized to pay Entergy's debt.

Comment:

Announces its plans to sell UK-based London Electricity and Melbourne, Australia-based CitiPower

Asset sales & divestitures, Electric, Gas & Water Utilities, Utilities, Entergy Corp., Public utilities, Article

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Iridium slashes ad budget amid strategy shift

Article Abstract:

Iridium LLC has reducing its advertising budget to approximately $12 million (11.4 million euros) for the 1999 year. In 1998, the company launched a $145 million worldwide advertising campaign that displayed the words, "Calling Planet Earth." Officials with Iridium gave their approval to the advertising campaign. The company claimed that the $12 million figure is too low.

Comment:

Reduces advertising budget to approximately $12 million (11.4 million euros) for 1999

Marketing procedures, Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing, Satellite Communications Eqp, Telecommunications equipment industry, Advertising, Abstract, Iridium L.L.C., Satellite communications systems

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