June 5, 1987
Taft Broadcasting said that under the revised offer for the remaining stock, Taft's shareholders could elect to swap each of their existing shares for either $157 in cash or $144 in cash and one share of FMI Financial. FMI Financial would be the general partner of TFBA Limited Partnership, the entity formed by the investors to make the acquisition. The partnership is led by FMI, which is 72%-owned by Cincinnati financier Carl H. Lindner's American Financial Corp.
April 15, 1987 |
A long-brewing struggle over the assets of Taft Broadcasting seemed suddenly headed for resolution Tuesday as the media and entertainment company's three principal shareholders disclosed that they have formed a limited partnership and will seek to buy out the company's public shareholders. The partnership, with about 42% of Taft Broadcasting's stock, is led by American Financial Corp. President Carl M. Lindner. Joining Lindner are Dudley S.
May 1, 1987
The group seeking to buy Taft Broadcasting increased by $2 a share its $1.4-billion offer for the Ohio-based television station operator and program producer. Three members of the shareholders group, Taft vice chairman Dudley S. Taft, Texas investor Robert M. Bass and an American Financial Corp. subsidiary controlled by Carl H. Lindner, had been rivals for Taft but joined forces in April. Together, the group owns about 42% of Taft's 9.2 million common shares.
July 23, 1986
Taft Broadcasting Co., Cincinnati, said it reorganized its senior management to create an office of the chairman that includes Dudley S. Taft as vice chairman and George D. Castrucci as executive vice president and chief operating officer. Charles S. Mechem Jr. will remain chairman and chief executive and is the third member of the office. Taft, who has been president and chief operating officer, will take on additional responsibilities including acquisitions and dispositions.