March 22, 1989 |
Los Angeles investor Marvin Davis and Prudential Insurance Co. of America said Tuesday they have agreed to acquire Spectradyne, the nation's largest supplier of cable television systems to hotels, from investment groups led by Texas billionaire Robert M. Bass. The companies valued the deal at $635 million, but only $60 million of that amount is for the common stock of the company. The remainder involves Davis and Prudential assuming Spectradyne's debt and dividend payments on preferred stock.
November 27, 1991 |
New York Beckons: John Rohrbeck, president and general manager of KNBC-TV Channel 4 here, is relocating to New York to become president of NBC's television stations division. Rohrbeck will oversee the six stations NBC owns. He succeeds Al Jerome, who is leaving to head Spectradyne Inc. in Dallas, which supplies movies to hotels. Succeeding Rohrbeck at Channel 4 will be L. Reed Manville, the station's manager of sales planning.
May 8, 1987
The Denver businessman offered $321.9 million to acquire the remaining shares of Spectradyne Inc., the nation's largest supplier of pay-per-view movie systems to hotels. Davis made his $37-per-share offer for the rest of the company's outstanding common shares after the market closed. Earlier this week, Davis disclosed in Securities and Exchange Commission filings that he had acquired 7.3% of Spectradyne, based in Richardson, Tex. Spectradyne's stock closed at $40.
March 21, 1989 |
Billionaire Marvin Davis and the Prudential Insurance Co. of America said today they will purchase Spectradyne Inc., which provides pay-per-view movies to the hotel industry. Davis' Los Angeles-based Davis Cos. and Prudential said they agreed to pay about $635 million for the company from a group that had acquired it two years ago in a $450-million deal. The selling group consists of Acadia Partners, L. P., of Fort Worth, an entity affiliated with billionaire investor Robert M.