January 20, 1989 |
Affiliated Publications Inc., publisher of the Boston Globe and Billboard magazine, announced a major restructuring Thursday that would include the spinoff of its holdings in an unprofitable cellular telephone business. Separately, British Telecommunications PLC announced in London that it had agreed to pay roughly $1.5 billion for a 22% stake in the cellular business, McCaw Cellular Communications Inc. of Kirkland, Wash.
January 6, 1994 |
The Justice Department said American Telephone & Telegraph Co.'s proposed acquisition of McCaw Cellular Communications Inc. would violate the agreement that broke up AT&T's telephone monopoly 10 years ago. AT&T must obtain a modification of the agreement before being allowed to proceed with the merger, Justice Department lawyers argued in court documents filed Wednesday with U.S. District Judge Harold Greene. The filing, which is only a recommendation, supports a motion by BellSouth Corp.
January 31, 1993 |
The cellular telephone industry said Friday that it would pay for government-approved research to determine whether radio waves from cellular phones pose a cancer risk. "We recognize that some may find industry-sponsored research is suspect," said Tom Wheeler, president of the Cellular Telecommunications Industry Assn. "Therefore, we are asking the federal government to appoint a blue-ribbon panel to review the methodology and findings of this research."
June 9, 1993 |
Microsoft Corp. has booked a New York City theater to unveil a broad-based strategy aimed at extending the world of personal computer software that it dominates into the realm of faxes, telephones and offices on the go. Microsoft Chairman Bill Gates is scheduled to present his "Blueprints to the Future" at the Hotel Macklowe's Hudson Theater off Times Square today, bringing his goal of streamlining office productivity one step closer.
October 10, 1989 |
McCaw Cellular Communications Inc. today raised the stakes in the bidding war to create the nation's largest cellular telephone company with a new takeover offer valuing LIN Broadcasting Corp. at $6.4 billion, up from an earlier $5.6-billion bid. The new McCaw offer is $125 a share for 22 million shares of LIN, enough to give it a majority of LIN's stock. Its prior offer was $110 for each outstanding share. The news boosted LIN's stock $3.625 to $113.50 in NASDAQ over-the-counter trading.
January 13, 1993 |
The president of the state Public Utilities Commission said Tuesday that he is considering asking the panel to cut California's cellular telephone rates, which are among the highest in the nation. "I'm thinking about it, but I'm not convinced that ordering a reduction would be the appropriate thing," Daniel Fessler told the state Senate's Energy and Public Utilities Committee. Fessler said that in the early 1980s, the PUC set cellular rates that were "guestimates to allow the industry to grow."
April 27, 1990 |
Craig McCaw, the chairman of McCaw Cellular Communications Inc., was the highest-paid U.S. chief executive last year with $53.9 million in salary, bonuses and stock options, Business Week said today. The business magazine, in its May 7 issue, disclosed the money earned by top chief executive officers at the leading U.S. corporations in 1989. Steven Ross of Time Warner Inc. ranks second with a total pay of $34.2 million, followed by Donald Pels at Lin Broadcasting Corp. with $22.
June 9, 1994 |
New World Communications Group, which shook up the media world two weeks ago when it announced it would convert eight CBS stations it owns to Fox affiliates, is negotiating to acquire WSMV-TV in Nashville, Tenn., industry sources said Wednesday. New World would switch the popular NBC affiliate to Fox, the sources said. Fox is currently carried on WZTV-TV in the market. The deal is reportedly valued at more than $100 million, sources added. WSMV is owned by Cook Inlet Communications Corp.
August 12, 1994 |
McCaw Cellular Communications Inc. has held talks with Southwestern Bell Corp. on how to create a more unified national cellular telephone network, a McCaw official said Thursday. "We have had discussions with them, and we have had discussions with a lot of companies about how to increase our footprint," said McCaw Vice President Bob Ratliffe.
September 6, 1994 |
Good news for Company Town readers: Vanity Fair magazine says America's new powerbrokers are the very people who grace these pages. Not the reporters, unfortunately, but a select group of 19 Information Age leaders that Vanity Fair calls the "New Establishment." In its upcoming issue, the magazine makes the case that this roster has replaced the "small group of WASP men whose breeding grounds were the playing fields of prep schools" and who ended up in government, the law and on Wall Street.