MILKEN TO START COMPANY\Oracle leader signs on to effort to improve education through\technology.Byline: Russ Britt Daily News Staff Writer Former junk-bond financier Michael Milken Michael Milken As an executive at Drexel Burnham Lambert Inc. during the 1980s, Milken used high-yield junk bonds for financing and corporate takeovers. While his personal wealth was enormous, he spent two years in prison after pleading guilty to charges of securities fraud. is forming a company with Lawrence Ellison, chairman of software giant Oracle Corp., that hopes to improve education through advances in technology and entertainment. The venture, Educational Technologies LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , will delve into such projects as developing computer networks equipped with education software. "Our view is that entertainment, technology, telecommunications and education will continue to come together to create a new dynamic for education," Milken said in a statement. "I have long believed that education and technology hold the key for the future strength of our country." Milken was unavailable for direct comment, as was Ellison. Officials at Redwood City-based Oracle said they could not comment on the venture because they were unaware of it. Milken spokesman Kam Kuwata said the venture will have operations in Northern and Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , close to both Milken and Ellison. "At the beginning, those two areas will be the principal areas," Kuwata said. There was no figure available on the number of employees involved in the venture or the investment from the two men, Kuwata said. Milken and Ellison also have jointly purchased shares in Hasbro Inc., which has fallen in value because of Mattel Inc.'s decision not to acquire the company. "Our interest in Hasbro stems from our mutual belief that the company owns valuable icons and shares our belief in the future of education technology," Ellison said in a statement. Kuwata said Milken and Ellison are longtime friends and have discussed a variety of subjects on business, Kuwata said. Milken served as an informal adviser to Ellison when he considered acquiring Apple Computer Corp. in 1994. Milken's advisement Deliberation; consultation. A court takes a case under advisement after it has heard the arguments made by the counsel of opposing sides in the lawsuit but before it renders its decision. ADVISEMENT. to media and technology executives is the subject of a Securities and Exchange Commission investigation, although Milken's advice to Ellison is not part of that probe. Milken's probation period has been extended three months by U.S. District Court Judge Kimba Wood Kimba Maureen Wood (born 1944 in Port Townsend, Washington)[1] is a U.S. federal judge. A graduate of Connecticut College (B.A., 1965), London School of Economics, (M.Sc., 1966) and Harvard Law School (J.D., 1969), Wood was nominated to the U.S. . The SEC is looking into whether Milken violated the terms of his agreement not to act as a securities consultant by serving as an adviser on deals involving News Corp., MCI Communications Corp., Time Warner Inc., Turner Broadcasting System Turner Broadcasting System, Inc. (often abbreviated TBS Networks or TBS, inc.) is the company managing the collection of cable networks and properties started by Robert Edward "Ted" Turner from the mid-1970s to the late-1990s. and New World Communications For the company controlled by Sun Myung Moon and his Unification Church which owns The Washington Times and United Press International, see . New World Communications Inc. |
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