SBD/25/Finance

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  • A BULL RUN TOWARDS RAWLINGS, WHO INKS W/HOST COMMUNICATIONS

              Atlanta-based Bull Run Corp. "has struck an investment
         agreement that could lead to" a 20% stake in MO-based
         sporting goods company Rawlings, according to Al Stamborski
         of the ST. LOUIS POST-DISPATCH.  Bull Run will pay $2.84M
         for 926,000 Rawlings warrants, or $3.07 each.  Each warrant
         will allow Bull Run to buy a share of Rawlings' common stock
         for $12.  But the stock will have to "close at or above
         $16.50 for 20 consecutive trading days."  In addition,
         Rawlings signed a five-year marketing agreement with Bull
         Run-subsidiary Host Communications.  Stamborksi adds that
         Host Communications "will help Rawlings sell sporting goods
         through corporate promotions and at amateur athletic
         contests" like Hoop-It-Up.  Rawlings CFO Paul Martin said
         that sales through such promotions "could have a fairly
         sizeable effect two or three years from now," much like a
         previous Rawlings promo with Pizza Hut on a basketball
         giveaway (POST-DISPATCH, 11/25).  Rawlings gained 11/16
         yesterday to close at $11 (WALL STREET JOURNAL, 11/25).
    
    

    Print | Tags: Finance
  • FINANCE NOTES

              CNN's Lou Dobbs reported that Nike fell yesterday 2 1/8
         to 48 3/4.  Dobbs added that Donaldson, Lufkin and Jenrette
         trimmed Nike's earning estimates, expecting international
         sales to fall rapidly" ("Moneyline," CNN, 11/24)....PCH
         Investments, owners of L.A. Gear, said that the CA-based
         company "will default" on a November 30 payment "on certain
         notes, and added that it hasn't paid cash dividends on its
         preferred stock."  The stock closed down $0.0625 to $0.625 
         (WALL STREET JOURNAL, 11/25).  CNBC's Terry Keenan: "Another
         sign ... that L.A. Gear may be in a lot of financial
         difficulty.  The retailer of athletic footwear says that it
         has, quote, insufficient resources, to pay interest on some
         of its outstanding debt" ("Market Wrap," CNBC, 11/24). 
    
    

    Print | Tags: Finance, Nike, Time Warner
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