Reported by Star-Bulletin staff & wire
Monday, February 10, 1997
Reported by Star-Bulletin staff & wire
Monday, February 10, 1997
NASHVILLE, Tenn. - CBS owner Westinghouse Electric Corp. is buying the Nashville Network and Country Music Television in a $1.55 billion deal that continues the network's push into cable TV. Westinghouse buying
country TV networksWestinghouse Electric announced today that it had agreed to purchase the two country music cable channels from Gaylord Entertainment, owner of the Grand Ole Opry.
Edward L. Gaylord, chairman of Gaylord Entertainment, said his company felt the two country music networks could grow faster as part of a larger company. Westinghouse will use stock to pay for the networks.
Under Westinghouse, though, CBS has been making significant efforts to expand into cable. For years under its previous owners, CBS had stayed out of the cable industry while focusing on its broadcasting business.
SANTA CLARA, Calif. - 3Com Corp. stock fell 26 percent today after the computer-networking supplier said its third-quarter earnings will be below Wall Street's expectations. 3Com stock plunges
after earnings reportThe Santa Clara, Calif.-based company said it expects earnings for the three months ending Feb. 28 to be in the mid-40 to low-50 cents a share range, compared with 42 cents a share in the year-ago period.
Analysts surveyed by First Call Inc. had forecast earnings earnings of 60 cents a share for the current quarter.
3Com added that revenues for the period will be between $770 million and $810 million, up from $606 million last year.
In Nasdaq trading, 3Com stock fell $13.50 to close at $37.25. The stock had traded as high as $80.12-1/2 on Dec. 9.
SEATTLE - After nearly four years of development, Boeing Corp.'s new 737-700 commercial jet passed its first major test yesterday by successfully completing a 3-1/2-hour first flight across Washington state. Boeing 737-700 takes
successful test flightThe airplane - designated YA001 - is the first of three long-awaited, upgraded versions of the Boeing 737, the best-selling aircraft with more than 2,800 in service worldwide.
"I felt right at home with it right away," said Capt. Mike Hewett after touching down.
The 737-700, -800 and -600 models look like the older 737s but they have a new, larger wing and are designed and built to fly farther, faster and higher than the previous models.
MINNEAPOLIS - Fat Tuesday is a day noted for indulgence. So how is Haagen-Dazs, whose very name conjures up indulgence, celebrating? Haagen-Dazs debuts
low-fat ice creamBy turning its back on fat.
After three years of development, the world's leading maker of premium ice cream is going lean - introducing its slimmed-down ice cream to the public tomorrow at a celebration in Tampa, Fla. Already in Haagen-Dazs ice cream shops, it will be in grocery stores nationwide in April.
Haagen-Dazs Low Fat - available in vanilla, chocolate, strawberry and coffee fudge - has fewer than three grams of fat per half-cup serving - more than 80 percent less than its chubby partner. The low fat vanilla ice cream has 170 calories, compared with 270 for the regular version.
