THE MEDIA BUSINESS;Murdoch Joins a Cable-TV Rush Into the Crowded All-News Field
Date: 31 January 1996
By Bill Carter
Bill Carter
Rupert Murdoch, the chairman of the News Corporation and Fox Inc., yesterday became the latest entrant in the business of providing 24-hour news channels, promising a new competitor to the Cable News Network by the end of the year. Mr. Murdoch named Roger Ailes, the former president of CNBC, chairman of the channel, but with no name and no formal plan for distribution the promised channel inspired widespread doubts about its long-term survival among competitors and cable industry analysts.
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Microsoft and MCI Agree On an Internet Alliance
Date: 30 January 1996
By Mark Landler
Mark Landler
In the promiscuous world of digital technology, where most companies prefer playing the field to going steady, MCI Communications said yesterday that it had signed an Internet alliance with the Microsoft Corporation. This, even though it already has an on-line partnership with the News Corporation. Under the terms of the deal, MCI and Microsoft will jointly develop and market an array of on-line and Internet services. Microsoft said it had chosen MCI as the primary distributor of its commercial on-line service, the Microsoft Network. And MCI said it would promote Microsoft's Internet software and browser throughout its network.
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Acrimony, Not Accord, Abounds at Libel Hearing
Date: 30 January 1996
By Don van Natta Jr
Halfway through unusually acrimonious arguments over the merits of the libel lawsuit against Mike McAlary, a Daily News columnist, Justice Charles E. Ramos sighed yesterday and said: "This is not an easy case." None of the lawyers assembled in his courtroom disagreed.
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Observer;The New Isolationism
Date: 30 January 1996
By Russell Baker
Russell Baker
Thousands turned out the other day for the burial of Lesotho's King Moshoeshoe II on top of Night Mountain. The King, who had ruled for 36 years, was known for tolerance, persuasiveness and learning.
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A Futile Rush In Desperation For Green Card
Date: 31 January 1996
By Rachel L. Swarns
Rachel Swarns
Mohammed Uddin was sound asleep in his Queens apartment when he got the call. The Government was giving out green cards at the Federal Immigration and Naturalization Service offices in Manhattan, his friend told him. In a flash, Mr. Uddin was dressing and kissing his wife goodbye. By 1:30 A.M. yesterday, he was in a taxi, racing toward downtown.
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POLITICS: IN THE LEAD;Dole Asserts Press Avoids Close Scrutiny Of Opponent
Date: 30 January 1996
By Katharine Q. Seelye
Katharine Seelye
Senator Bob Dole blamed the press today for a new poll that shows him trailing Steve Forbes, the wealthy publishing heir, in the Republican Presidential primary in New Hampshire. "It shows if you've got enough money and you don't get any scrutiny from the media," Mr. Dole told reporters here, before pausing and adding, "I don't know, maybe he owns stock in all those networks and Time and Newsweek. But somehow, they don't seem to bother him. They'd rather focus on Bob Dole the front-runner."
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COMPANY NEWS;TEVA PHARMACEUTICAL TO ACQUIRE BIOCRAFT
Date: 30 January 1996
Reuters
Teva Pharmaceutical Industries, Israel's biggest drug company, agreed yesterday to buy Biocraft Laboratories Inc. of Fair Lawn, N.J., a maker of generic drugs, for stock valued at $295.7 million. The acquisition would raise Teva's share of the United States generic drug market to 8 percent from 5 percent. Teva's United States subsidiary, the Lemmon Company, and Biocraft would have combined annual sales of $390 million. Based on Teva's closing price of $45.25 on Friday, Biocraft shareholders would get 0.461 Teva American depository receipt for each Biocraft share. There are 14.18 million Biocraft shares outstanding. Biocraft rose $5.50, to $19.125, on the New York Stock Exchange. Teva A.D.R.'s fell $1.125, to $44.125, in Nasdaq trading.
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COMPANY NEWS;PENSKE MOTORSPORTS PLANS PUBLIC OFFERING
Date: 30 January 1996
Reuters
Penske Motorsports Inc., the Detroit-based professional car-racing promoter, said yesterday that it was going to make an initial offering of 3.25 million common shares. The company said in a filing with the Securities and Exchange Commission that it expected to raise $51 million to $59 million, after expenses, assuming its shares are sold for $17 apiece. It said some proceeds would be used to construct a speedway in California and to repay debt. Penske Motorsports owns and operates the Michigan International Speedway in Brooklyn, Mich., and the Nazareth Speedway in Nazareth, Pa.
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