May 3, 1990 |
A court in Rome has reportedly ordered the Italian newspaper L'Unita to publish a statement by Giancarlo Parretti denying that he gave an interview in which he was quoted as making anti-Semitic remarks. Under the court order, which was publicized by Parretti's office but could not be confirmed independently Wednesday, the paper is required to print the statement in equivalent size and type to the original newspaper article. Parretti--the co-president of Pathe Communications Co.
May 16, 1990 |
Pathe Communications Co., which is trying to acquire MGM/UA Communications Corp., agreed Tuesday to sell its controlling stake in Cannon Pictures to a Dutch production firm in a $15-million deal. Trihoof Investments B.V. submitted a tender offer of 13.6 cents per share for the 60% of Cannon's stock held by Pathe. Trihoof President Ovidio Assonitis already owns 20% of Cannon Pictures and has served as the Beverly Hills company's chairman and chief executive since last year.
June 9, 1990 |
Pathe Communications Co. on Friday made the last of its $50-million down payments on MGM/UA Communications Corp., increasing its non-refundable investment to $275 million. Pathe, which is seeking to acquire MGM/UA for $1.2 billion, was required to deposit the funds by today under the terms of its agreement with MGM/UA. The rest of the money is due by June 23, but Pathe has indicated that it intends to close the deal as soon as next Friday.
May 18, 1990 |
After a one-week delay, Pathe Communications Co. on Thursday paid its third $50-million deposit toward its planned purchase of MGM/UA Communications Corp. for $1.2 billion. MGM/UA announced that it had received the non-refundable payment late Thursday afternoon. Pathe has now put $225 million down on the deal, including two previous $50-million deposits and a security interest of $75 million in three upcoming Pathe films.
September 15, 1989 |
MGM-UA Communications Corp. today accepted a $1.5-billion buyout offer from Australia's Qintex Group today, a sweetened bid that topped a $1.4-billion offer from media mogul Rupert Murdoch. Qintex, which also will assume $400 million in MGM-UA junk bond debt, increased its offer to $25 per share of common stock, up from $20. Murdoch's News Corp. Ltd. and its Fox Inc. unit had offered $23.16 a share and had negotiated with MGM-UA's board until late Thursday.