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BUSINESS
August 25, 1989 | SCOT J. PALTROW, Times Staff Writer
The federal investigation of former Drexel Burnham Lambert Inc. junk bond chief Michael Milken has broadened to focus on whether his department in effect bribed the managers of mutual funds and other customers to buy difficult-to-sell securities from Drexel. Sources close to the investigation confirmed that both the Securities and Exchange Commission and the U.S.
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BUSINESS
December 2, 1992 | From Times Staff and Wire Reports
Ex-Milken Aide Censured by SEC: Federal stock market regulators censured Mark Chasin, a former Drexel Burnham Lambert Inc. junk bond salesman, for allegedly helping to cover up a Drexel deal that created inaccurate books and records. Without admitting or denying wrongdoing, Chasin, a former salesman in Drexel's Beverly Hills-based high-yield bond department, settled an administrative action brought by the SEC.
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BUSINESS
April 1, 1985
The Federal Communications Commission turned aside a request by Storer Communications that a dissident shareholder group's proxy fight be subjected to a full review because Storer owns seven TV stations. The FCC accepted the group's contention that control of the company rests with the shareholders and that a change in the membership of the board would not constitute transfer of control.
BUSINESS
October 24, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
Frederick H. Joseph, Drexel Burnham Lambert's former chief executive, confronted Michael Milken in court Tuesday for the first time and implied that Drexel's longtime star employee had lied to him. Joseph also seemed to damage Milken's case in pre-sentencing hearings by stating that Milken had violated written company rules on ethics.
BUSINESS
April 25, 1985
Tele-Communications, the nation's largest cable-TV operator, told securities analysts that it would like to buy the assets of Storer Communications but only on a friendly basis, in partnership with Knight-Ridder Newspapers and E. W. Scripps Co., according to two analysts who attended the meeting. The analysts, who asked not to be identified, said a top Tele-Communications official told the group that the company has held no "direct" negotiations with Storer.
BUSINESS
April 27, 1985
Storer Communications, which agreed to a buy-out proposal by Kohlberg, Kravis, Roberts & Co. earlier this week, disclosed a total exercise price of $100 million for warrants to be issued to Storer shareholders, along with $75 in cash and $25 in preference stock for each share of Storer common stock.
BUSINESS
November 23, 1985
Under the plan approved by Storer Communications shareholders, the company will be bought out by a subsidiary of the New York investment firm Kohlberg Kravis Roberts & Co. Under the $1.98-billion deal, stockholders of North Miami, Fla.-based Storer will receive $91 per share of common stock and a warrant to purchase one share of common stock of SCI Holdings Inc., the KKR subsidiary that will buy Storer. The merger is expected to be concluded by mid-December.
BUSINESS
December 2, 1992 | From Times Staff and Wire Reports
Ex-Milken Aide Censured by SEC: Federal stock market regulators censured Mark Chasin, a former Drexel Burnham Lambert Inc. junk bond salesman, for allegedly helping to cover up a Drexel deal that created inaccurate books and records. Without admitting or denying wrongdoing, Chasin, a former salesman in Drexel's Beverly Hills-based high-yield bond department, settled an administrative action brought by the SEC.
NEWS
March 30, 1989
The federal grand jury indictment against Michael Milken, Lowell Milken and Bruce L. Newberg accuses the defendants of three groups of racketeering law violations. A summary of the allegations follows (Except where indicated, Michael Milken allegedly acted without his two co-defendants.): Actions Involving Ivan F. Boesky Fischbach Corp.
BUSINESS
May 16, 1985 | Associated Press
Storer Communications, which is fighting a takeover attempt by dissident shareholders, said Wednesday that it won't learn until May 29 the final results of the board of directors election. After shareholders cast their votes and proxies at last week's annual meeting, Chairman Peter Storer predicted reelection of a majority of the current board.
BUSINESS
October 23, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
A lawyer who advised the Drexel Burnham Lambert junk bond department on the legality of transactions testified Monday that information about improper or illegal activity was withheld from him. The lawyer, Craig Cogut, said however that the information was withheld by Michael Milken's brother, Lowell. Cogut said he never discussed the questionable transactions, involving Storer Communications warrants, with Milken.
BUSINESS
October 20, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
Prosecutors said they expect to call former Drexel Burnham Lambert Chief Executive Frederick H. Joseph to testify Monday, after a day of hearings Friday in which government witnesses failed to back up allegations of bribery by Michael Milken. Defense lawyer Arthur L. Liman also told a judge that Milken himself may testify during the coming week.
BUSINESS
January 9, 1990 | PAUL RICHTER, TIMES STAFF WRITER
Four days before the start of the new decade, a court clerk in Tampa, Fla., stamped and filed a foot-thick batch of bankruptcy petitions from a local building materials and resources company, and a chapter in business history quietly ended. The company was Hillsborough Holdings, and its bankruptcy pleading Dec. 27 signaled the end of the era in which its owners, the great buyout firm of Kohlberg Kravis Roberts & Co., stood as a symbol of invincibility for all the financial world.
BUSINESS
September 9, 1989 | SCOT J. PALTROW, Times Staff Writer
Federal prosecutors in the racketeering case against former Drexel Burnham Lambert Inc. junk bond chief Michael Milken have threatened to indict five more current or former officials in the firm's Beverly Hills office, sources said. Prosecutors in the U.S. Attorney's Office in Manhattan have threatened to bring racketeering charges against the five as part of a new indictment expected in the Milken case, the sources said.
BUSINESS
August 25, 1989 | SCOT J. PALTROW, Times Staff Writer
The federal investigation of former Drexel Burnham Lambert Inc. junk bond chief Michael Milken has broadened to focus on whether his department in effect bribed the managers of mutual funds and other customers to buy difficult-to-sell securities from Drexel. Sources close to the investigation confirmed that both the Securities and Exchange Commission and the U.S.
NEWS
March 30, 1989
The federal grand jury indictment against Michael Milken, Lowell Milken and Bruce L. Newberg accuses the defendants of three groups of racketeering law violations. A summary of the allegations follows (Except where indicated, Michael Milken allegedly acted without his two co-defendants.): Actions Involving Ivan F. Boesky Fischbach Corp.
BUSINESS
April 25, 1988 | Associated Press
Two major cable television system operators have agreed to acquire the cable systems of the former Storer Communications for about $1.55 billion, the companies announced Sunday. The planned buyout by Comcast Corp. and Tele-Communications Inc. comes months after a larger consortium that included the two companies dropped a proposal to pay about $2.9 billion for SCI Holdings, the company created when Storer was taken private by the investment firm Kohlberg, Kravis & Roberts in a $2.
BUSINESS
October 6, 1987 | From a Times Staff Writer
Times Mirror Co. will swap its Phoenix and other Arizona cable television systems for a number of cable systems across the country under an agreement in principle announced Monday with Tele-Communications Inc. and United Artists Communications. On Sept. 17, Times Mirror said its cable television subsidiary had held preliminary discussions about such a transaction. The Los Angeles-based media company, which owns the Los Angeles Times, is acquiring cable systems in South Lake Tahoe, Calif.
BUSINESS
April 25, 1988 | Associated Press
Two major cable television system operators have agreed to acquire the cable systems of the former Storer Communications for about $1.55 billion, the companies announced Sunday. The planned buyout by Comcast Corp. and Tele-Communications Inc. comes months after a larger consortium that included the two companies dropped a proposal to pay about $2.9 billion for SCI Holdings, the company created when Storer was taken private by the investment firm Kohlberg, Kravis & Roberts in a $2.
BUSINESS
October 6, 1987 | From a Times Staff Writer
Times Mirror Co. will swap its Phoenix and other Arizona cable television systems for a number of cable systems across the country under an agreement in principle announced Monday with Tele-Communications Inc. and United Artists Communications. On Sept. 17, Times Mirror said its cable television subsidiary had held preliminary discussions about such a transaction. The Los Angeles-based media company, which owns the Los Angeles Times, is acquiring cable systems in South Lake Tahoe, Calif.
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