Carling O Keefe Breweries Of Canada Ltd

Harry Ornest, a sports entrepreneur who lives in Beverly Hills, purchased the Canadian Football League's Toronto Argonauts from Carling O'Keefe Breweries Ltd. on Monday for a reported $5.2 million. Ornest, who owned the St. Louis Blues of the National Hockey League from 1983 to 1986, will become the sixth owner in the 105-year history of the Argonauts, the oldest football club in North America. The club has called a news conference for today to announce the sale.

Molson Cos. and Carling O'Keefe Breweries said Wednesday that they will close seven of 16 breweries across Canada over the next three years after completing the proposed merger of their North American beer operations. The companies, which became Canada's No. 1 brewer under the merger announced last week, will eliminate 500 full-time jobs and slash their payroll by another 900 employees through attrition and early retirement incentives.

Molson Cos. and Carling O'Keefe Breweries said Wednesday that they will close seven of 16 breweries across Canada over the next three years after completing the proposed merger of their North American beer operations. The companies, which became Canada's No. 1 brewer under the merger announced last week, will eliminate 500 full-time jobs and slash their payroll by another 900 employees through attrition and early retirement incentives.

Canadian brewers, worried that cheaper U.S. beer is grabbing a growing share of a stagnating market, have accused some U.S. rivals of dumping and are pushing officials to boost prices of the competing brands. "They are dumping and selling in Canada at a price less than their home market," said Howard Collins, a spokesman for the Brewers Assn. of Canada. But the brewers are unwilling to lodge an official complaint with the Canadian government, even though they say hundreds of jobs are threatened.

Harry Ornest, a sports entrepreneur who lives in Beverly Hills, purchased the Canadian Football League's Toronto Argonauts from Carling O'Keefe Breweries Ltd. on Monday for a reported $5.2 million. Ornest, who owned the St. Louis Blues of the National Hockey League from 1983 to 1986, will become the sixth owner in the 105-year history of the Argonauts, the oldest football club in North America. The club has called a news conference for today to announce the sale.