BHC COMMUNICATIONS SUBSIDIARY OFFER EXTENSION
BHC COMMUNICATIONS SUBSIDIARY OFFER EXTENSION NEW YORK, July 17 /PRNewswire/ -- BHC Communications, Inc.
(AMEX: BHC) and its majority shareholder, Chris-Craft Industries, Inc. (NYSE: CCN), announced today the extension of the expiration date of the tender offer by BHC's wholly-owned subsidiary, BHC Acquisition Corp., for all of the outstanding shares of common stock of Pinelands, Inc. (NYSE: PL) at a price of $18 per share plus additional consideration equal to 6 percent per annum from (but excluding) July 12, 1992. The tender offer, as extended, will expire at 5:00 p.m., New York City time, on July 24, 1992.
BHC anticipates that it will extend the tender offer from time to time pending satisfaction of the conditions to the offer, including receipt of Federal Communications Commission approval. As of 5:00 p.m., New York City time, on July 16, 1992, 10,936,046 shares of Pinelands common stock had been tendered pursuant to the tender offer. -0- 7/17/92 /CONTACT: William Siegel of BHC Communications, 212-421-0200/ (BHC CCN PL) CO: BHC Communications, Inc.; Chris-Craft Industries, Inc.; Pinelands, Inc. ST: New York IN: ENT SU:
AH -- NY065 -- 0378 07/17/92 16:24 EDT
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|Date:||Jul 17, 1992|
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