INDIA TV VENTURE AMENDED
Date: 25 September 1999
By Bloomberg News
Bloomberg News
Star Television Ltd, part of Rupert Murdoch's News Corp, is exiting its venture with Zee Telefilms Ltd, which runs most popular television network in India; Zee says it will pay $296.5 million in stock and cash for half of stakes Star owns in Asia Today Ltd, which broadcasts Zee's programs (S)
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British Paper's Sting Nets an Earl and a Scolding From a Judge
Date: 24 September 1999
By Sarah Lyall
Sarah Lyall
Judge, in harsh challenge to news-gathering techniques used by some British newspapers, criticizes News of the World for allowing two of its reporters to dress up as rich Arabs, pretend to want to buy motor scooters from a peer, and then ply him with expensive food and alcohol until he sold them cocaine; after an elaborate sting leaves peer, 10th Earl of Hardwicke, drunkenly snorting cocaine while boasting about how he could get some any time, News of World runs full report, plus pictures; Earl is arrested and jury convicts him of selling drugs, but sends highly unusual note to judge saying that Lord Hardwicke, 29, sold drugs only under 'extreme provocation'; judge lets verdict stand, but rules that Lord Hardwicke would not be sentenced to prison, scolding journalists involved (M)
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Press Freedoms in Zimbabwe
Date: 25 September 1999
Editorial scores Pres Robert Mugabe of Zimbabwe for cracking down on independent press and its ability to question his authoritarian rule; cites arrest and torture of Mark Chavunduka and Ray Choto (M)
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Ex-Premier Andreotti Acquitted of Mafia Murder Conspiracy
Date: 25 September 1999
By Alessandra Stanley
Alessandra Stanley
Giulio Andreotti, seven-time Italian Prime Minister, is acquitted of conspiring with Mafia in 1979 murder of Carmine Pecorelli, a muckracking journalist, and also of killing him; so are four other co-defendants, some of whom have been convicted of mob-related crimes in other cases; verdict revives soul-searching about country's judicial system and prosecutors' reliance on testimony of turncoat informants (M)
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ENGAGE TECHNOLOGIES AGREES TO BUY ADKNOWLEDGE
Date: 25 September 1999
By Bloomberg News
Bloomberg News
Engage Technologies Inc, Internet marketing company controlled by CMGI Inc, agrees to buy Adknowledge Inc for $193 million in stock; CMGI will initially acquire 85 percent stake in Adknowledge for $170 million in CMGI shares; Engage will acquire remaining 15 percent for $23 million in Engage shares; in third step, Engage will issue $170 million in Engage shares to CMGI for 85 percent stake that CMGI bought in first step (S)
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WESTWOOD COMPLETES ITS PURCHASE OF METRO NETWORKS
Date: 24 September 1999
By Bloomberg News
Bloomberg News
Westwood One Inc completes its purchase of Metro Networks Inc for $1.2 billion in stock, making it number 1 provider of traffic news; Westwood approves buyback of as much as $200 million of its stock, or about 8 percent of its shares outstanding; CBS Corp owns about 25 percent of Westwood One (S)
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CENDANT TO SELL UNIT TO DOUGHTY HANSON OF LONDON
Date: 25 September 1999
By Bloomberg News
Bloomberg News
Cendant Corp agrees to sell
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PERDUE WEIGHS BAN OF GENETICALLY MODIFIED FEED
Date: 25 September 1999
By Bloomberg News
Bloomberg News
Perdue Farms Inc is considering feeding its chickens and turkeys only corn that is not genetically modified as consumer concerns over biotechnology rise; such a move could be blow to agricultural biotechnology companies, which have been battered by public fears around world over health and environmental effects of technology (S)
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PROFIT WARNING BY KROLL-O'GARA, SECURITY FIRM
Date: 25 September 1999
By Bloomberg News
Bloomberg News
Shares of Kroll-O'Gara Co fall 45 percent after it says it is considering selling itself and warns that third-quarter earnings will miss estimates (S)¼
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TEXTRON FINANCIAL AGREES TO BUY LITCHFIELD FINANCIAL
Date: 24 September 1999
By Bloomberg News
Bloomberg News
Textron Inc's Textron Financial Corp acquires Litchfield Financial Corp for about $183 milion in cash (S)
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