BRIEFCASE CONSULTING FIRM GIVEN TIME FOR PLAN.Byline: - Staff and Wire Services WOODLAND HILLS - Management Action Program Inc. has been given more time to file its bankruptcy reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. . The U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. , Central District of California, extended the period Monday to Aug. 4. The 43-year-old consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a , which bills itself as Los Angeles' 10th-largest, filed for Chapter 11 on Feb. 5. L.A. investor OK'd in German TV deal FRANKFURT, Germany - Creditors of Germany's KirchMedia on Monday unanimously approved Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. investor Haim Saban's purchase of the bankrupt company's television subsidiary and film library, company officials said. Proceeds of the sale will go toward paying off banks and other creditors. KirchMedia, which was the core of the Kirch Group media empire, filed for bankruptcy protection last April, unable to pay some $2.1 billion in debt. No price has been announced for the deal, under which Saban will buy a controlling stake in ProSiebenSat.1, KirchMedia's television subsidiary and the second-largest private television broadcaster in Germany in terms of viewers reached. Interest rates fall on 3-month T-bills WASHINGTON - Interest rates on short-term Treasury securities fell in Monday's auction. The Treasury Department sold $16 billion in three-month bills at a discount rate of 1.100 percent, down from 1.150 percent last week. An additional $17 billion was sold in six-month bills at a rate of 1.090 percent, down from 1.150 percent. Both the three-month and six-month rates were the lowest since March 10, when the bills sold for 1.055 percent and 1.030 percent, respectively. In a separate report, the Federal Reserve said Monday that the average yield for one-year constant-maturity Treasury bills, the most popular index for making changes in adjustable-rate mortgages, dipped to 1.27 percent last week from 1.32 percent the previous week. AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. and Comcast finalize trade-off PHILADELPHIA - AOL Time Warner, Inc. has completed its restructuring of Time Warner Entertainment, paying Comcast Corp. $3.6 billion in stock and cash for full control of assets including Warner Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . and Home Box Office, the companies said Monday. The deal gives Comcast cash to help trim debt after its November acquisition of AT&T Broadband, which made Comcast the country's largest cable television operator. It allows AOL Time Warner to regain control of entertainment assets, including Time Warner Entertainment's interests in the WB Network, Comedy Central and Court TV. The companies announced the deal's conclusion after markets closed Monday. AOL Time Warner's stock closed at $10.86 a share, down 49 cents, on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Comcast's Class A shares fell 68 cents to close at $28.59 on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. . |
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