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NBC Selling Microsoft a Stake in Cable Channel

Date: 14 December 1995

By Bill Carter

Bill Carter

NBC and the Microsoft Corporation will announce a deal today under which Microsoft would buy a 50 percent interest in NBC's cable channel America's Talking as part of an effort to form an all-news channel that could challenge the Cable News Network, executives close to the negotiations said last night. Microsoft is expected to pay an estimated $100 million for the half-interest in the channel, which would be renamed since its format would no longer consist of all-talk programming. NBC would operate the channel, relying on its network news organization as well as its affiliate news service, which is based in Charlotte, N.C. NBC's affiliated stations are also expected to provide news material to the channel.

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CRITIC'S NOTEBOOK;Going Beyond the Headlines, a Little

Date: 13 December 1995

By Walter Goodman

Walter Goodman

Network-news fans can hardly help noticing the profusion of labels for stories that do not quite fit into the usual dinner-time rundown of the day's events. There's "American Agenda" on ABC's "World News Tonight," "Eye on America" on "CBS Evening News," "The Fleecing of America" on "NBC Nightly News" and others. The labeling can get silly, but the impulse to go beyond headline purveying is admirable. Headlines are like bread lines, and you know what the Bible says about living by bread alone. So let's have a look. "The Fleecing of America," introduced on "NBC Nightly News" in June and generally shown on Wednesday nights, is in the evergreen tradition of the expose. Based on the unarguable assumption that tax money is being squandered on dubious causes and crooked individuals, this useful series has lately taken on Social Security frauds (claims on behalf of the dead and the incarcerated), new and needless bridges across the Missouri River ($17 million each), the latest multimillion-dollar boondoggle at the embarrassment-prone Denver International Airport and the use of Air Force planes to carry rooters to football games around the country. The reporting by Lisa Myers and Roger O'Neil is pointed, and they are not likely to run out of scandals soon. Tonight, for the Christmas season: charity rip-offs.

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CLINTON'S RATINGS OVER 50% IN POLL AS G.O.P. DECLINES

Date: 14 December 1995

By Richard L. Berke

Richard Berke

President Clinton has emerged from the Federal budget standoff with his highest public ratings in nearly two years, while House Republicans, particularly Speaker Newt Gingrich, have lost much of the good will they enjoyed after their sweep of Congress last year, the latest New York Times/CBS News Poll shows. Virtually every finding showed striking evidence of renewed political strength for the President: Mr. Clinton's job approval level has broken 50 percent for the first time in The Times's polling since February 1994. Americans have begun to give him more credit for a healthier economy. And they perceive Mr. Clinton as far more earnest than the Republicans in trying to find a solution to the budget impasse.

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SANDERS FINDS PRIME TIME IN TWO LOCKER ROOMS;Cornerback Might Be Giant's Main Target

Date: 14 December 1995

By Mike Freeman

Mike Freeman

What is sometimes lost in the commercials, the dances in the end zone, the Prime Time image, is that Deion Sanders is one of the best cover cornerbacks ever to play the game. He cannot rap, but the man can play football. The question is: How do you beat him? Many teams often go away from Sanders out of fear, but don't be surprised on Sunday if the Giants are bold and go right at him.

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NEWS SUMMARY

Date: 13 December 1995

International A3-16

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NEWS SUMMARY

Date: 14 December 1995

International A3-21

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COMPANY NEWS

Date: 14 December 1995

BLACK & DECKER TO SELL A TECHNOLOGY UNIT The Black & Decker Corporation of Towson, Md., agreed yesterday to sell PRC Inc., its information technology and services business, to Litton Industries for $425 million. The sale will allow Black & Decker, best known for its power tools and household appliances, to improve its balance sheet and to focus on core businesses, the company said. Proceeds will be used to pay down debt. Litton, of Woodland Hills, Calif., said PRC had estimated sales of about $720 million in 1995. PRC designs and supports computer-based information systems for the Federal Government, commercial customers and state and local governments. (Dow Jones)

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COMPANY NEWS;PCS WIRELESS AND ADC TELECOMMUNICATIONS IN ALLIANCE

Date: 14 December 1995

Dow Jones

Dow Jones

PCS Wireless Inc. signed a letter of intent yesterday to form a strategic alliance with ADC Telecommunications Inc. Under the alliance, ADC Telecommunications agreed to subscribe for five million PCS Wireless common shares, representing 15.1 percent of the issued stock. PCS Wireless, based in Vancouver, British Columbia, also said an ADC Telecommunications appointee would join its board. The companies will also establish a joint venture to be owned 50 percent by each company. PCS Wireless said the new venture would be capitalized at $5 million in cash and cash equivalents. ADC Telecommunications, of Minneapolis, is a supplier of transmission and networking systems used to deliver voice, data and video services.

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COMPANY NEWS;BLACK & DECKER TO SELL A TECHNOLOGY UNIT

Date: 14 December 1995

Dow Jones

Dow Jones

The Black & Decker Corporation of Towson, Md., agreed yesterday to sell PRC Inc., its information technology and services business, to Litton Industries for $425 million. The sale will allow Black & Decker, best known for its power tools and household appliances, to improve its balance sheet and to focus on core businesses, the company said. Proceeds will be used to pay down debt. Litton, of Woodland Hills, Calif., said PRC had estimated sales of about $720 million in 1995. PRC designs and supports computer-based information systems for the Federal Government, commercial customers and state and local governments.

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COMPANY NEWS;TOMKINS AGREES TO BUY GATES RUBBER

Date: 13 December 1995

Bloomberg Business News

Bloomberg News

Tomkins P.L.C. of London said yesterday that it would acquire the Gates Rubber Company from the Gates Corporation for an undisclosed amount of stock and the assumption of $240 million in debt. Additional terms of the transaction will not be disclosed until a definitive agreement is reached. The choice of Tomkins, a diversified industrial company, caps a nine-month selection process for the Gates family, the primary shareholders of the Gates Corporation, one of the world's largest privately held companies. The board of Gates, which is based in Denver, reviewed final bids this week from Tomkins, Tenneco Inc. and a third finalist, which was believed to be the Dana Corporation. Gates Rubber makes power transmission belts, automotive hoses and connectors and has $1.4 billion in annual sales.

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