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THE MEDIA BUSINESS; News Corp.'s Stock Plan Attacked

Date: 30 November 1993

By Nina Bick

Nina Bick

Plans by the News Corporation, headed by Rupert Murdoch, to issue shares with super-voting rights drew sharp opposition from the Australian investment community and Government regulators today. The Labor Government warned the Australian Stock Exchange that unless "full and proper consideration" was given by all parties to any changes in the listing rule of one vote one share, it would disallow the changes.

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Canada Seizes U.S. Newspapers at Border

Date: 30 November 1993

Police arrested Canadians bringing copies of the Buffalo News across the border after the newspaper printed an article containing details barred by a judge hearing a murder case. Niagara Regional Police Detective Staff Sergeant Paul White said today that 187 newspapers were confiscated from 61 drivers.

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Canadian Ban on Murder Case Stirs Battle With U.S. Journalists

Date: 01 December 1993

A notorious Ontario murder case has provoked a confrontation between United States journalists and Canadian authorities, with Canadians seizing United States newspapers and at least one Buffalo broadcaster openly defying a Canadian court order to withhold details of the case. On Sunday, Niagara Regional Police seized 187 copies of that day's Buffalo News from people crossing the border into Canada because it contained an article about the 1991 slaying of two teen-agers. The case, with allegations of abduction, sexual assault and murder, has created a sensation in much of Canada, as well as in western New York State.

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Observer; Why Credit Is Tight

Date: 30 November 1993

By Russell Baker

Russell Baker

Can President Clinton be serious when he complains to Rolling Stone magazine about never getting "one damn bit of credit" from the "knee-jerk liberal press"? Surely he is being sly, hoping to fish a little applause from a quarter reluctant to applaud anyone, least of all a middle-of-the-road President. As a Rhodes scholar, he knows enough history and political philosophy to understand the plight of the knee-jerk liberal, press or otherwise.

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'UNBRANDED' I.B.M. LAPTOPS ARE INTRODUCED

Date: 30 November 1993

By Bloomberg News

Bloomberg News

The Ambra Computer Corporation, the unit of the International Business Machines Corporation that sells "unbranded" personal computers, introduced its first six laptop PC's yesterday. The three models in the subnotebook, or SN, series, weigh only four pounds and range in price from $1,399 to $1,899. The three N-series models, which are slightly larger PC's that weigh 6.6 pounds, range from $2,299 to $3,999. I.B.M. has been selling its Ambra PCs abroad for almost two years and introduced the Ambra brand in the United States in August. The new Ambra laptops are made in Taiwan.

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NEW VALLEY FILES REORGANIZATION PLAN

Date: 30 November 1993

By Bloomberg News

Bloomberg News

The New Valley Corporation of Upper Saddle River, N.J., the parent of Western Union Financial Services, said yesterday that it had filed its plan of reorganization with the Federal Bankruptcy Court in Newark. A hearing is scheduled for Jan. 7.

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BOWATER TO LAY OFF 7% OF WORK FORCE

Date: 30 November 1993

By Bloomberg News

Bloomberg News

Bowater Inc., a newsprint maker based in Greenville, S.C., said yesterday that it would lay off about 7 percent of its work force and sell large tracts of timberland in response to weak paper demand. The company will cut about 450 jobs to reduce annual costs by $20 million, or 34 cents a share, on a pretax basis. Bowater said it would take a fourth-quarter charge of $10 million, or 17 cents a share, to reflect the cost of the layoffs. Bowater also said it planned to sell 70,000 acres of properties in Alabama, Georgia, Mississippi and South Carolina, which it said would raise about $52 million, or 89 cents a share, after taxes, in the fourth quarter.

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DELTA WILL LAY OFF 36 PILOTS ON JAN. 1

Date: 30 November 1993

By Bloomberg News

Bloomberg News

Delta Air Lines said yesterday that it plans to lay off 36 pilots on New Year's Day and that it hoped the cuts would be the last in a string of pilot dismissals. The Jan. 1 layoffs will bring to 448 the number of pilots dismissed since June, when Delta said it would dismiss about 600 of its 9,300 pilots, or about 6 percent. Delta said that greater-than-expected attrition and scheduling changes resulted in fewer pilot cuts than originally expected.

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FLEET FINANCIAL GROUP SELLING ITS FACTORING UNIT

Date: 30 November 1993

By Bloomberg News

Bloomberg News

Fleet Financial Group Inc. said yesterday that it had agreed in principle to sell its factoring and commercial finance unit to the GFC Financial Corporation for an undisclosed amount of cash. Fleet Financial, based in Providence, R.I., the nation's 15th-largest bank holding company, said it had decided to sell the Fleet Factors Corporation unit because it was not a core business of "strategic value." The unit, acquired by Fleet in 1972, has total assets of about $350 million and will report factoring volume of about $800 million for fiscal 1993. GFC is a Phoenix finance company that provides secured financing of selected commercial and real estate activities.

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Ruling on Coke and Tri-Star

Date: 30 November 1993

By Bloomberg News

Bloomberg News

The Delaware Supreme Court ruled today that Coca-Cola Inc. mistreated minority shareholders of Tri-Star Pictures Inc. in the 1987 merger of Tri-Star with Coca-Cola's Entertainment Business unit. The court reversed the Delaware Chancery Court on four substantive counts and sent the six-year-old case back to the lower court for trial.

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