BRIEFCASE UNIVERSAL READY TO SELL REAL ESTATE.Byline: - Staff and Wire Services UNIVERSAL CITY - Universal Studios is putting some of its real estate on the block as the company continues to cut costs in anticipation of a possible sale. The company's black, 35-story office building that bears the Vivendi Universal logo will be sold, along with the Sheraton Universal hotel. The land beneath the Hilton will also be sold, a studio spokeswoman confirmed Wednesday. A nearby motel used for studio storage is also for sale. The company is not parting with its smaller headquarters building or its famed backlot backlot Noun an area outside a film or television studio used for outdoor filming . The sale comes as executives from Paris-based parent Vivendi Universal are meeting with executives in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and 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. to discuss the fate of the company's American entertainment divisions. Vivendi Universal is considering a range of options, including selling its film, theme park, music and video game units. Possible buyers include Barry Diller Barry Diller (born February 2, 1942 in San Francisco, California) is an American media executive responsible for the creation of Fox Broadcasting Company. Biography , who oversees the studio, theme parks and games divisions. Oil billionaire and former studio owner Marvin Davis Marvin H. Davis (August 31, 1925 in Newark, New Jersey – September 25, 2004 in Beverly Hills, California) was American industrialist and philanthropist. He made his fortunes as the chairman of Davis Petroleum and at one time owned 20th Century Fox, Pebble Beach, the Beverly is also scheduled to meet with Vivendi Universal executives next week in Paris to discuss his bid. Separately, Universal Studios Hollywood raised its adult admission price by $2 to $47. The move comes five days after a similar price increase at the Disneyland Resort
The Disneyland Resort is a recreational resort complex in Anaheim, California. parks in Anaheim. Northrop snags Navy parts deal EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and - Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. said Wednesday it has been awarded a $47.4 million contract by the U.S. Navy to continue making sections and spare parts for the F/A-18 Hornet jet fighter Jet fighter may refer to:
The work will be done at the defense contractor's El Segundo-based Integrated Systems sector and is scheduled to be completed by 2007, according to the company. The award will not add jobs, but it will sustain about 1,500 positions, the company said. Northrop Grumman is the principal subcontractor to Boeing on the construction of the F/A-18s. OneUnited joins Family Savings Los Angeles-based OneUnited Bank has merged with Family Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. to form the largest African American-owned bank in the country. Boasting $500 million in assets, OneUnited has shareholders that include Earvin ``Magic'' Johnson and Janet Jackson. Kevin Cohee, chairman and chief executive officer, said Los Angeles- based OneUnited's mission is to expand access to urban communities. Nurses, staff OK hospital contract VALENCIA - Henry Mayo Newhall Memorial Hospital's unionized nurses and support workers overwhelmingly ratified new contracts that will improve patient care and help the hospital emerge from bankruptcy, officials said. The contract for the Valencia hospital's 250 nurses includes a 15 percent pay hike over three years plus additional increases for employees with 20 years of service. The hospital's 500 support workers approved a new two-year deal that calls for a 9 percent pay hike over the duration of the pact. 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. Time Warner solicits book bids NEW YORK - AOL Time Warner is seeking to sell its book publishing division in an effort to pay down some of the heavy debts taken on with AOL's acquisition of Time Warner, people involved in sale discussions said. The company retained the investment bank Merrill Lynch to approach publishers and investment funds about a possible deal. But in the current bear market, getting a decent price may be difficult and there is no guarantee a buyer will emerge. A spokesman for AOL Time Warner declined to comment. The potential sale puts into question the future control of the fifth-largest consumer book publisher in the United States, with an annual revenue of about $320 million in 2001, according to industry newsletter Subtext sub·text n. 1. The implicit meaning or theme of a literary text. 2. The underlying personality of a dramatic character as implied or indicated by a script or text and interpreted by an actor in performance. . The company's books division includes Warner Books, one of the largest publishers of mass-market paperbacks that in recent decades has also become a major publisher of self-help, business, religious books and popular novels in hardcover. The division also includes Little, Brown & Co., founded in 1837, one of the oldest and most respected houses in the country. The potential sale, at a time when many media companies are short on cash and buyers are scarce, underscores the pressure on AOL Time Warner to pare down its burdensome $26 billion debt. |
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