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Wednesday, September 27, 1989 / University Daily Kansan
Sony offers to buy Columbia Pictures
The Associated Press
NEW YORK — Japan's Sony Corp. has offered to buy Columbia Pictures Entertainment Inc. for more than $3 billion, according to reports published yesterday.
Columbia Pictures, a movie and television company with current releases including "When Harry Met Sally" and "Ghostbusters II," declined to comment on the reports. Sony officials also refused to comment.
Coca-Cola Co., which owns 49 percent of Columbia's stock, said it was aware that the movie-andtelevision company was in talks that it would consider whatever recommendation may be made.
Columbia triggered a sharp run-up in its stock price Monday when it announced it was "in discussions with a third party involving the acquisition for cash of all of Columbia's outstanding shares." A board meeting was scheduled for Monday night to consider the offer, the company said.
The Wall Street Journal, the New York Times and the Los
Angeles Times reported today that the potential buyer was Sony. The papers cited unidentified sources familiar with the negotiations.
The Journal said Sony had offered $2 to $28 a share for Columbia stock. With 112.7 million shares outstanding, that would make Columbia worth from $2.93 billion to $3.15 billion. It also has about $1.3 billion in long-term debt outstanding.
The Times said Sony offered $3.4 billion in cash.
In active trading Monday on the New York Stock Exchange, we are a share to close at $23.79% Coca-Cola rose 62% cents a share to $8.15
Foreign companies have shown a ravenous appetite for U.S.-made films and TV programming in recent months, as cable and satellite channels have opened up in European and Asian markets.
Less than two weeks ago, Australia's Quintex Group agreed to buy the company. Communications for $1.5 billion were buying Murpurt University's News Corp.
MGM-UA said it had active buyout discussions with Sony in late 1988.
Hotel blast kills two in Colombia
BOGOTA, Colombia — The military imposed heavy security on the Caribbean tourist city of Cartagena today after another bomb blast blamed on drug traffickers killed two people and injured one at a Hilton hotel.
The Associated Press
Hundreds of foreign and Colombian tourists were jamming the small airport in Cartagena looking for flights out, residents said.
Two other bombs exploded Monday, injuring one person.
A guerrilla group that is about to sign a peace agreement with the government of President Virgilio Barco said drug traffickers should be pardoned, daily newspapers reported.
The April 19 Movement, known as M-19, reportedly issued a communique at its base camp saying peace talks should be expanded to include the drug traffickers.
Drug dealers blamed in deaths
The traffickers declared war on the Colombian government after the government launched a crackdown following the assassination of a leading presidential candidate, Luis Carlos Galan, on Aug. 18.
The signing of a peace agreement by the guerrillas and the government has been postponed each of the last two days because of the last-minute
changes in the agreement.
Colombian marines, army troops and national police patrolled Cartagena today, searching cars at roadbanks and frisking pedestrians, said Col. Luis Herrera, chief of the national police in Cartagena.
He said no one claimed responsibility for the blast.
The hotel bomb and another that exploded at a Cartagena bank Monday were the first bombings in that city since the drug war began.
Many of the bombings since mid-
August have been against government-owned banks and utilities. The majority owner of the Cartagena Hilton is the Colombian government's National Tourism Council.
In Bogota, Colombia's judges have not withdrawn a threat to strike.
Justice Minister Carlos Lemos Simmonds told a news conference Monday that a strike would only hurt the government's efforts to subdue drug traffickers.
A Cabinet minister was to meet today with representatives of the country's 4,600 judges in an effort to head off a strike protecting what the judges call inadequate government protection from drug gangs.
Since 1981, about 50 judges and 170 judicial employees have been killed.
It's the appliance that chills beer,cooks pizza
The Associated Press
BOSTON — A new appliance that can chill beer, keep ice cream frozen and cook pizza has college students clamoring, and the inventor, a former computer salesman, crossing his fingers.
stack three appliances on top of one another and paint them the same color. Their machine, which stands at less than four feet, was invented to use no more power than a compact refrigerator.
The Microfridge is a three-piece appliance composed of a compact refrigerator, a separate freerice compartment and a mini-microwave. It sells for $429.
" quite simply, when one unit is running, the other one is off," said co-founder Robert P. Bennett, 33, who said he had two patents on the Wiskofen's circuitry.
Product testing showed that even when the microwave was on for 45 minutes, the refrigerator and freezer sections gained only 3 degrees. he said.
The founders of Microfridge Inc. did more than
The first shipment of 1,700 Microfridges went out at the end of August. Sales are expected to exceed $1.9 million this year, Bennett said.
The efforts of Bennett and his co-founders, Peter Soriane, 47, and Ed Ward, 37, are focused on promoting the appliance for use in schools, hotels, office suites and military bases.
More than 88 percent of the first shipment was bought by colleges and their students, Bennett said.
Join Us For A Lecture Series On FELLOWSHIP
Featuring Jimmy Jividen
Sept. 29, 30, & Oct. 1, 1989
Jimmy Will Be Discussing These Topics:
"Friday, Sept. 29
7:00 P.M.-Meaning Of Fellowship
*Sunday, October 1
*Saturday, Sept. 30
8:30 A.M.- Divine Basis Of Fellowship
(Continental Breakfast) 7:30 to 8:30 a.m.)
7:00 P.M.- Scope Of Fellowship
JIMMY JIVIDEN
*Sunday, October 1*
9:30 A.M. - Limits Of Fellowship
10:30 A.M. - Levels Of Fellowship
6:00 P.M. - Fellowship and Discipline
Join Us For This Exciting Lectureship.
Jividen, of Abilene, Texas, is a widely known author and gospel preacher, having written over 5 books, Jividen holds an master's degree from Abilene Christian University in child development, three children and nine grandchildren. He is prominently lecturing, and has given a new book on Fellowship.
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