Renters Choice to acquire Thorns U.S. business
Article Abstract:
Renters Choice Inc. agreed to pay $900 million to buy the U.S. operations of Thorn PLC. This would make Renters Choice Inc. one of the largest operators of "rent-to-own" stores. The sale would increase the number of stores Renters Choice operates from 687 to more than 2,000. Revenues would increase from $331.5 million to about $1.2 billion, based on 1997 figures. Renters Choice will also assume liability for pending lawsuits versus Thorn America, e3xept for those in Minnesota and Pennsylvania. These lawsuits allege that Thorn America did not properly disclose interest rates in its rental /sales contracts.
Comment:
Renters Choice Inc. to buy the U.S. operations of Thorn PLC for $900 million
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Hicks Muse agrees to sell LIN Television to Chancellor in $900 million deal
Article Abstract:
The Dallas investment firm Hicks, Muse, Tate and Furst Inc. will sell LIN Television Corp. to its radio affiliate Chancellor Media Corp. in a stock transaction valued at nearly $900 million. Chancellor will issue 17.7 million shares of new stock to Hicks Muse boosting its stake in Chancellor from 9% to 18%. Chancellor will assume $769 million of debt. Chancellor said the purchase is part of a new strategy to aggressively acquire other media concerns. The move will give Chancellor an unusual combination of radio, television and billboard holdings that it could sell as a package to advertisers.
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Will buy LIN Television
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Crescent calls off plan with Merrill; to buy its shares
Article Abstract:
About 6.7 million common shares of Crescent Real Estate Equities Co. will be bought back from Merrill Lynch International as a way of terminating a complicated stock deal that was initiated in December 1997. Moody's is reviewing the REIT's long-term credit rating with a possible downgrade in the offing.
Comment:
Stock buyback plan gets Crescent out of deal with Merrill Lynch Int'l
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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