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DOES FINANCIAL RESTRUCTURING MEAN A SALE FOR SONICS?
Published February 6, 1995
In a "minor shift in the business structure," Ackerley Communications restructured of all of its holdings and left the Sonics as a separate corporation, instead of being one of 14 subsidiaries. But according to MCCLATCHY NEWS' Bart Wright, "an implication was immediately obvious. Large companies interested in testing the market for a certain portion of their holding often restructure in ways that set apart the desirable holding." But Ackerley Communications CFO Dennis Curley said the restructuring "changes nothing," and is "no indication at all of any reason to want to sell anything" -- including the Sonics. Wright writes that the move comes at a "curious time," and that the value of the franchise is higher now than any other time in its history, with "sizable" fan support a new arena, and expansion fees (Bart Wright, McCLATCHY NEWS SERVICE, 2/5).