Rival snubs Philip scrap-metal assets

Article Abstract:

American Iron & Metal Co. owner Herbert Black has denied reports that his company is planning to buy the scrap-metal business of Philip Services Corp., saying he has no intention to do so because of the very high selling price. Black admitted he is considering buying some of the metal assets of Philips but decided not to submit its bid yet after coming to a conclusion that acquiring the unit will not add much value to its own operations. Philips Services has announced the sale of its scrap-metal unit in summer of 1998, noting it will use the amount it will be able to raise from the transaction to reduce its debt, which amounts to C$1.1 billion.

Comment:

Owner Herbert Black denies reports his company plans to buy scrap-metal business of Philips Services Corp

Quebec, Ontario, Secondary Nonferrous Metals, Nonferrous Metal (except Copper and Aluminum) Rolling, Drawing, Extruding, and Alloying, Nonferrous metals, Secondary metals, American Iron and Metal Co., Philip Services Corp.

Shaw seeks buyer for Headline Sports channel stake

Article Abstract:

Shaw Communications Inc., a Calgary, Alberta-based cable company, has announced it is looking for investors who hare interested to buy the 47.85 stake it owns in Sportscope Television Network Ltd., which runs the Headline Sports channel. The decision to put its stake up for sale was made by Shaw Communications after the Canadian Radio-television and telecommunications Commission issued a ruling that the company could not control the specialty network. Shaw Communications noted RBC Dominion Securities Inc. will oversee the sale of Sportscope Television.

Comment:

Puts it 47.85% stake in Sportscope Television Network Ltd up for sale

Television Broadcasting, Alberta, Television broadcasting industry, Shaw Communications Inc.

Groupe Videotron sells U.S. cable units

Article Abstract:

Groupe Videotron Ltee of Montreal, Quebec, has sold its US wireless cable TV businesses to Sprint Corp for $180 million. The company said the sale will allow it to record a C$136 million pre-tax gain on its books. The sale caps Videotron's six-year involvement in so-called multipoint multichannel distribution services technology, which allows a company to provide wireless cable or Internet services.

United States, Telecommunications, Groupe Videotron Ltee