Bryant Hopes Appeal In Asia Helps New Fund BAM Tech Buys Stake In Silver Chalice Kobe Launches $100M Tech Fund Performance Sports Group Losing Value Analysts Pleased With Disney-BAM Tech Deal Adidas Continuing To Show Sales Growth SMI Takes Revenue Hit In Q2 Report Under Armour Grabs New Manhattan Space Analytics Company Catapult Buys XOS Digtial TSN Profits For FY '15 Only Down Slightly
OGDEN SPLITS ITS BUSINESS DIVISION INTO TWO PUBLIC COMPANIES
Published March 12, 1999
Ogden Corp. "intends to break its three business lines into two publicly traded companies in an effort to prop up its lagging share price," according to Allanna Sullivan of the WALL STREET JOURNAL. The company "said it will put its entertainment and aviation businesses into one company and its energy operations into another company in a deal that Ogden executives hope will be done on a tax-free basis." Ogden will first sell "as much" as 20% of the "newly created entertainment and aviation company" in an IPO this fall and then "spin off the remainder to shareholders by year end." Ogden Chair R. Richard Ablon will run the entertainment and aviation division (WALL STREET JOURNAL, 3/12).