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Wednesday, August 21, 2002

Tristate summary




Clear Channel chief to leave Covington

        Officials at Clear Channel Communications Inc. said there was no plan to move about 40 workers from Covington to San Antonio.

        Clear Channel confirmed Tuesday that the new chief executive officer of Clear Channel Radio, John Hogan, would move to headquarters in San Antonio.

        He replaces Randy Michaels, who was suddenly reassigned to a new technologies unit in July.

        Clear Channel previously had said that Mr. Michaels would continue to work from Covington.

        “I don't know of any specific decisions,” spokesman Joel Williams said.

        “And I don't know of any plan to move the entire unit out of Covington.”

       

NCS shareholders urged to reject bid

        NCS HealthCare Inc., a Beachwood, Ohio, provider of drugs to nursing homes and hospitals, urged shareholders to reject a revised $392 million unsolicited takeover offer from rival Omnicare Inc.

        Covington-based Omnicare's latest $3.50-a-share cash offer was rejected in favor of a lower stock bid from Genesis Health Ventures Inc., NCS said in a statement.

— Compiled from staff and wire reports

       

       



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