Disney to buy Fox Family Worldwide for 3 billion cash
Walt Disney Co plans to acquire Fox Family Worldwide Inc for 3 billion dollars in cash plus 2.3 billion dollars of assumed debt. The deal doubles Disney’s cable footprint, adding Fox Family Channel and Szban’s library while expanding international reach via Fox Kids Europe and Fox Kids Latin America.
MENTIONED IN THIS ARTICLE
Los Angeles
Walt Disney Co
Fox Family Worldwide Inc
Disney
ESPN
A&e
Disney Channel
Lifetime
Fox Family Channel
ABC Family
United States
Fox Family
News Corp
Saban Entertainment Inc
Saban
Mighty Morphin Power Rangers
General Motors Corp
Directv
Hughes Electronics
Fox Kids
Europe
Latin America
Michael Eisner
Szban
Capital Cities
ABC
Ney
Media Networks
Pat Robertson
Christian Broadcasting Network
Eisner
Robert Alger
Fox Family Worldwide
Michael D. Eisner
Market dives as investors see no reason to buy
New York equities fell sharply as investors weighed rising second quarter losses and a looming slowdown. The Dow slid 152.23 to 10,424.42 while the Nasdaq dropped 40.81 to 1,988.56 and the S&P 500 declined 19.82 to 1,191.03. Major decliners included Lexmark International, Goodyear, 3M, and Dow components Microsoft GE and Wal Mart. The session showed broad selling with only American Express McDonalds and IBM among a minority of gainers. Overseas markets mixed with Japan down 2.5 percent and Europe mixed.
MENTIONED IN THIS ARTICLE
New York
Scott Bleiex
Prime Charter Ltd
Dow Jones
Standard & Poor
Charles White
Avatar Associates
al Mirman
V Finance
Sarasota
Fla
Lexmark International
Goodyear Tire
Dow Industrial 3M
Wall Street
Microsoft
General Electric
Wal-Mart
Dow
American Express
McDonald’s
IBM
Cisco
Dollar Edges Higher as Yen Slips on Tokyo Stocks
The dollar rose against most major currencies amid light G eight commentary at Genoa. The yen dropped sharply after Tokyo stocks closed at a 16 year low, with the Nikkei down 2.51 percent to 11,609.63. The euro held near Friday levels after a weaker German Ifo index, at 0.8696 euros per dollar. The pound fell to 1.4190 dollars, while the Swiss franc rose to 1.7326 per dollar and the Canadian dollar to 1.5450 per dollar. Parliamentary elections planned for July 29 in Japan shape reform support.
MENTIONED IN THIS ARTICLE
New York
Group of Eight
Genoa
Italy
Tokyo
Tokyo Stock Exchange
Craig Larimer
Bank One Capital Markets
Chicago
Junichiro Koizumi
Germany
Europe
Ifo Economic Institute
Bush tax talks focus on business tax breaks
Washington AP reports the Bush administration preliminarily targets business tax breaks in any reform, stressing corporate AMT, capital gains, and depreciation changes. Officials say a full overhaul is unlikely this year, with emphasis on medium-term, incremental changes over broad reforms.
MENTIONED IN THIS ARTICLE
Washington
Bush
Glen Hubbard
Council of Economic Advisers
Hubbard
Capitol Hill
Cutbacks open path to growth and new roles
After layoffs, workers face heavier workloads with fewer colleagues, but experts say this can spur growth. Surviving staff may explore internal openings, network externally, and propose raises or promotions. Managers may reengineer processes and consider outsourcing to keep productivity up while offering new opportunities.
MENTIONED IN THIS ARTICLE
Jonesy
Yake Brian
Washington
Brian
Betsy Friedlander
Willmott & Associates Inc
Falls Church
Friedlander
Anymor
Weizmann
Treasury to sell four week bills starting July 31
The U S Treasury plans weekly auctions of four week bills beginning July 31 to offer a new ultra short term option for investors seeking safety. Auctions will set price by discount with par value at maturity and minimum 1000 increments. Investors can bid online by mail or through brokers and banks.
MENTIONED IN THIS ARTICLE
Washington
U.S. Treasury
Treasury Department
Treasury
Bureau of Public Debt
Richard Yamarone
Argus Research Corp
Department
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UBS Warburg
Hasbro
New York Stock Exchange
Japan
Britain
France
House
Dick Armey
Armey
Texas
White House
Lawrence Lindsey
Jane Weizmann
Human Resources
Watson Wyatt Worldwide
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