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ABC and ITT Agree to Merger Creates 1.8 Billion Communications Giant
American Broadcasting Companies and International Telephone & Telegraph plan a stock based merger valued at 1.8 billion. Board approvals came Tuesday night with conditions including shareholder consent FCC approval and tax ruling. LT andT would keep ABC as a separate subsidiary. LT&T assets exceed 1.6 billion and ABC assets over 226.6 million.
MENTIONED IN THIS ARTICLE
NEW York
Amercan Broadcasting Companies Inc
International Telephone & Telegraph Corp
Harold §. Geneen
Lt.&t
Leonard H. Goldenson
ABC
Federal Communications Commission
Europe
Latin America
Far East
American Broadcasting Companies Inc