World Briefing | Europe: Italy: Cheese Move Earns Approval Some 25 brands of buffalo mozzarella with elevated levels of the carcinogen dioxin were pulled from stores as the nation worked to reassure foreign buyers that none of the contaminated cheese had left... Read Full Article Dollar’s Fall Is No Cause For Alarm In Euro Zone A surging euro is indisputably a burden for Europe’s exporters, but it has not yet had a sharp effect on European economies.... Read Full Article Stocks End Higher Amid Bargain Hunting Wall Street recovered from early losses as investors, while still worried about credit problems at big financial companies, went in search of bargain stocks.... Read Full Article Slashdot Founder Questions Crowd’s Wisdom The founder of Slashdot introduces a new Web service, Idle, and takes aim at a rival, Digg.... Read Full Article World Briefing | The Americas: Canada: Afghan Force Could Stay On Prime Minister Stephen Harper said the country’s military mission to Afghanistan could remain longer than scheduled, an idea bound to anger opposition parties.... Read Full Article |
World Business Briefing: Media Company Is Acquired And Then DividedTwo Australian media companies, the Macquarie Media Group and Fairfax Media, began a $1.08 billion bid for Southern Cross Broadcasting. Under the plan, which has the support of the board of Southern Cross, Macquarie Media, with backing from the Macquarie Bank, will take control of the group’s regional television assets, while Fairfax will get the group’s radio businesses. Macquarie Media is offering 17.41 Australian dollars a share for Southern Cross Broadcasting a total of 1.26 billion Australian dollars. The offer includes 17.05 Australian dollars in cash, plus a special dividend of 36 Australian cents per share. Macquarie, based in Sydney, has struck a deal to sell Southern Cross’s radio business, along with select other businesses, to Fairfax, also based in Sydney, for 480 million Australian dollars ($411 million). Southern Cross is based in South Melbourne. Tag CloudExternal InformationAdditional InformationNews Analysis: In Mortgage Plan, Lenders Set Terms...US jobs boost lowers chance of rate cut... $49 fare to Perth as air war hots up... Dean Foods Cuts Forecast and Workers... Where Am I?News Main Page - Business - World Business Briefing: Media Company Is Acquired And Then Divided |
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