SBD/6/Finance

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  • BRANDWEEK REPORTS SUITORS LINE UP FOR HOST COMMUNICATIONS

              Fox, ESPN and CBS have "all expressed interest recently
         in buying part or all" of Host Communications, the sports
         marketing agency which handles NCAA corporate sponsorships,
         according to "reliable sources" of BRANDWEEK's Terry Lefton.
    
         Lefton: "An alliance with Host would allow CBS to package
         NCAA rights with its stem-to-stern Final Four tournament
         coverage.  But don't forget that ESPN also televises many
         NCAA championship events."  Host Founder Jim Host: "The
         (Host) board has not met to consider any offer, so I'd be
         hard pressed to say we're closer to anything then we have
         been before" (Terry Lefton, BRANDWEEK, 1/5 issue). 
    
    

    Print | Tags: CBS, ESPN, Finance, NCAA, News Corp./Fox, Viacom, Walt Disney
  • FINANCE NOTES

              Russell Corp. "warned fourth-quarter earnings may fall
         50 percent to 60 percent from a year ago on sluggish holiday
         and fall sales" (N.Y. DAILY NEWS, 12/31)....Atop Dow Jones'
         list of the industry's "Worst Performers" of '97 was the
         footwear category, which was down 33.44% for the year (WALL
         STREET JOURNAL, 1/2)....Florida Panthers Holdings has agreed
         to acquire the Arizona Biltmore resort, located in Phoenix,
         for $225M in cash and stock (Dow Jones).
    
    

    Print | Tags: Finance
  • SARA LEE SELLS OFF TEXTILE OPERATION TO FOCUS ON MARKETING

              IL-based Sara Lee will "sell the bulk of its US yarn
         and textile operations to privately-owned National
         Textiles," according to Nikki Tait of the FINANCIAL TIMES. 
         The sale would cover nine of Sara Lee's 13 yarn and textile
         plants in the U.S.  The TIMES estimates the "cashflow
         benefits to Sara Lee would total about" $600M during the
         next three years.  The textile and yarn operations supply to
         Sara Lee's knitwear and personal products division, which
         includes Hanes and Champion (FINANCIAL TIMES, 1/6).  In
         Chicago, Nancy Millman reports the sale is the "first step"
         in Sara Lee's strategy to become "more of a marketer than a
         manufacturer" (CHICAGO TRIBUNE, 1/6).
     
    

    Print | Tags: Finance, Sara Lee
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