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BUSINESS
August 15, 1997
Stamford, Conn.-based CUC International Inc., seeking to extend its reach in global online commerce, said it agreed to acquire Paris-based classified advertising publisher Hebdo Mag International in a stock swap worth $440 million.
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BUSINESS
August 15, 1997
Stamford, Conn.-based CUC International Inc., seeking to extend its reach in global online commerce, said it agreed to acquire Paris-based classified advertising publisher Hebdo Mag International in a stock swap worth $440 million.
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BUSINESS
June 11, 1997 | (Washington Post)
America Online Inc. said it will receive $50 million over the next three years in return for selling its subscribers on travel, shopping and automotive services offered by CUC International Inc. The deal, one of the largest involving advertising in the online world, is AOL's latest effort to reduce its reliance on monthly subscriber charges and shore up its financial position. Since December, the Vienna, Va.
BUSINESS
June 11, 1997 | (Washington Post)
America Online Inc. said it will receive $50 million over the next three years in return for selling its subscribers on travel, shopping and automotive services offered by CUC International Inc. The deal, one of the largest involving advertising in the online world, is AOL's latest effort to reduce its reliance on monthly subscriber charges and shore up its financial position. Since December, the Vienna, Va.
BUSINESS
July 8, 2005 | From Bloomberg News
Former Cendant Corp. Vice Chairman E. Kirk Shelton, who faces 12 to 15 years in prison, asked U.S. District Judge Alvin Thompson to impose a term of probation and community service for his accounting fraud conviction. Shelton deserves leniency because he is devoted to his family, works in the community and has a reputation for integrity, his lawyers said in court papers filed Tuesday in Hartford, Conn.
BUSINESS
September 9, 2004 | From Bloomberg News
E. Kirk Shelton, a former vice chairman at Cendant Corp., testified at his criminal trial that he had no knowledge of fraudulent accounting at a predecessor company or of "cheat sheets" to track false financial results. Prosecutors allege that Shelton helped fabricate profit at CUC International Inc., which merged with HFS Inc. in 1997 to create Cendant, the world's largest hotel franchiser. Shares of New York-based Cendant rose 22 cents to $22.38 on the New York Stock Exchange.
BUSINESS
May 27, 2004 | From Bloomberg News
A former Cendant Corp. executive told jurors she helped ex-Vice Chairman E. Kirk Shelton inflate revenue when they were at CUC International Inc., which merged with HFS Inc. in 1997 to form Cendant.
BUSINESS
October 20, 1998 | Bloomberg News
B.J.'s Wholesale Club Inc. said it will take a $19.3-million charge and restate earnings for the first half of fiscal 1998 to 27 cents a share from 75 cents, as it adopts new accounting methods. The third-largest wholesale-club chain will begin accounting revenue from its annual membership fees over the life of the membership, typically 12 months, rather than when fees are received. The Natick, Mass.
BUSINESS
January 28, 1998 | Reuters
Cendant Corp. said it offered to buy American Bankers Insurance Group Inc. for $2.7 billion in cash and stock, topping a $2.2-billion bid from American International Group Inc. Cendant, formed last year by the $13.5-billion merger of CUC International Inc. and HFS Inc., proposed a two-step takeover that values American Bankers at $58 a share, a 23% premium above the $47-a-share price announced by AIG and American Bankers on Dec. 22. Cendant, with offices in Stamford, Conn., and Parsippany, N.J.
BUSINESS
October 13, 1998 | Bloomberg News
Cendant Corp. said Christopher McLeod stepped down as vice chairman but will temporarily remain chief executive of a software subsidiary it plans to sell. McLeod, 42, will keep his job at Cendant Software until the division is sold, either to another company or to investors through an initial public offering, the company said. Parsippany, N.J.-based Cendant hired Credit Suisse First Boston to sell the unit, which makes CD-ROM entertainment and educational programs.
BUSINESS
April 21, 1998 | Reuters
Cendant Corp. said it created the position of chief financial officer at its troubled Alliance Marketing division and named Michael Wargotz, 39, to the post. Wargotz previously was senior vice president for investor relations at HFS Inc. and most recently was senior vice president for business development at Cendant, which was created in December with the merger of HFS and CUC International Inc.
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