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BUSINESS
June 16, 1993 | From Times Staff and Wire Reports
Rockefeller Group Sells Stake in Cable Channel: Rockefeller Group Inc. has sold its 12.5% stake in the cable TV channel Arts & Entertainment Network to the remaining three shareholders. A spokesman for the partners said New York-based A & E no longer fit with Rockefeller Group's investments. Under the new partnership agreement, A & E will be owned 37.5% each by Hearst Corp. and Capital Cities/ABC Inc., and 25% by NBC.
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NEWS
September 12, 1995 | From Times Staff and Wire Reports
Walking away from an investment of nearly $2 billion, Mitsubishi Estate Co. is expected to announce today a plan to relinquish its 80% ownership of New York's Rockefeller Center, a source said Monday. The proposal would not only end Mitsubishi's majority ownership in the storied office complex, which has been mired in bankruptcy court since early May, but it would eliminate the Rockefeller family's stake in the 12-building center. Rockefeller Group Inc.
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NEWS
September 12, 1995 | From Times Staff and Wire Reports
Walking away from an investment of nearly $2 billion, Mitsubishi Estate Co. is expected to announce today a plan to relinquish its 80% ownership of New York's Rockefeller Center, a source said Monday. The proposal would not only end Mitsubishi's majority ownership in the storied office complex, which has been mired in bankruptcy court since early May, but it would eliminate the Rockefeller family's stake in the 12-building center. Rockefeller Group Inc.
BUSINESS
June 16, 1993 | From Times Staff and Wire Reports
Rockefeller Group Sells Stake in Cable Channel: Rockefeller Group Inc. has sold its 12.5% stake in the cable TV channel Arts & Entertainment Network to the remaining three shareholders. A spokesman for the partners said New York-based A & E no longer fit with Rockefeller Group's investments. Under the new partnership agreement, A & E will be owned 37.5% each by Hearst Corp. and Capital Cities/ABC Inc., and 25% by NBC.
BUSINESS
December 30, 1986
The company said it sold its 45% interest in the landmark headquarters building in New York for $118 million, continuing cost-cutting moves linked to possible takeover threats and flagging national advertising. The buyer of the 48-story building was the majority owner, Rockefeller Group Inc., the holding company set up by the heirs of John D. Rockefeller to oversee the prestigious Rockefeller Center office complex in midtown Manhattan.
NEWS
December 10, 1986 | Associated Press
Exxon Corp., the world's biggest oil company, will sell its world headquarters building to a Japanese real estate concern for $610 million by the end of the year, according to an agreement announced today. Exxon said it and Rockefeller Group Inc. intend to sell their respective interests in the Exxon Building, a 54-story skyscraper at 6th Avenue and 50th Street, to Mitsui Fudosan (New York) Inc., a subsidiary of Mitsui Real Estate Development Co. Ltd.
BUSINESS
November 6, 2003 | Roger Vincent
Rockefeller Group International Inc. and Los Angeles-based CommonWealth Partners said they were forming a real estate investment management partnership. The venture will provide CommonWealth with financial backing to acquire and develop large-scale office and mixed-use projects across the country on behalf of institutional investors such as the California Public Employees' Retirement System. CommonWealth has about $1.5 billion under management.
BUSINESS
January 11, 1990 | United Press International
Corporate takeovers by Japanese enterprises overseas hit a record 404 in 1989, up 22% over 315 in 1988, Yamaichi Securities Co. reported today. Among the major deals were a record $3.4-billion takeover of Columbia Pictures Entertainment Inc. by Sony Corp. and Mitsubishi Estate's acquisition of a majority equity in Rockefeller Group Inc. Yamaichi said its survey showed that Japanese takeovers of foreign companies in 1989 accounted for 61.3% of the total mergers and acquisitions reported in 1989.
BUSINESS
November 14, 1989 | From Times Wire Services
David Rockefeller today welcomed the Japanese buyout of New York's Rockefeller Center but said investors might follow the example of his ancestors' corporate philanthropy to prevent anti-Japanese sentiment. The former chairman of the Chase Manhattan Bank, speaking at a Tokyo symposium titled "How to Become a Good Corporate Citizen," said it was "quintessentially American to welcome investments and partnership" of foreign corporations. Japan's Mitsubishi Estate Co.
BUSINESS
December 20, 2006 | From Bloomberg News
Cushman & Wakefield Inc., the world's second-largest real estate services company, said an investment group controlled by Italy's Agnelli family bought a majority stake in the company for $563 million. The family's Ifil Group will acquire a 67.5% stake, New York-based Cushman and Turin, Italy-based Ifil said. Ifil will replace Rockefeller Group International Inc. as the controlling shareholder. Cushman employees will retain a 32.5% stake.
BUSINESS
August 4, 1995 | Times Staff and Wire Reports
Real estate: Walt Disney Co. is considering making a bid with Chicago real estate investor Sam Zell for the bankrupt New York landmark Rockefeller Center, according to sources familiar with the situation. They said Burbank-based Disney and Zell are in talks with the owner of the property, Rockefeller Group Inc., and the company that holds the $1.3-billion mortgage on the property, Rockefeller Center Properties Inc. Rockefeller Group and Rockefeller Center Properties are two unrelated companies.
BUSINESS
October 3, 1995 | Times Staff and Wire Reports
New Twist in Fight for Rockefeller Center: David Rockefeller, 80, has entered the fray for control of the property, bringing his family's money and prestige to bear in a struggle for the landmark New York complex. Rockefeller has joined with Tishman-Speyer Properties and an investment fund managed by Goldman, Sachs & Co. in an attempt to nullify a deal that would leave Chicago investor Sam Zell, General Electric Co., Walt Disney Co. and others with half-ownership.
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