Friday, August 11, 2000

Tristate Summary


BICCGeneral seals Mexican deal

        Highland Heights wire and cable manufacturer BICCGeneral has signed a final agreement to complete its previously announced purchase of the Telmag S.A. and Telmag Internacional units of AXA S.A. in Tetla, Tlaxcala, Mexico.

        BICCGeneral said the acquisition, to be done by September, will expand its telecommunications cable business in the Mexican and Central American markets. It expects to double Telmag's current revenues of $25 million over a year.

Scripps buys Fla. newspaper
        Cincinnati-based E.W. Scripps Co., the oldest U.S. newspaper publisher, agreed to buy the Marco Island Eagle from New York Times Co. for an undisclosed price to add a third paper in southwestern Florida.

        The Eagle, a weekly with a circulation of about 10,000, is near Scripps's Naples Daily News and weekly Bonita Banner. Scripps also owns three dailies along the eastern Florida coast.

        New York Times is shedding its smallest seven papers.

Convergys files securities sale
        Cincinnati-based Convergys Corp., a billing and customer management provider, filed with the Securities and Exchange Commission to sell $500 million in common and preferred stock, debt securities and warrants.

        The S-3 filing allows the company to register the securities in advance and then sell them when financing needs arise or when market conditions warrant.

        Proceeds from the stock sale will be used for general corporate purposes, the filings said.

        — From staff and wire reports

       



Mortgage rates head down
City Hall looks to embrace dot-coms
Telecom firm moves to N. Ky.
Cincinnati Cordage seeks sale amid bankruptcy
Old Navy receipts sink
- Tristate Summary
What's the Buzz?
Industry notes: Manufacturing