Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Article excerpt

Attorney General Fights Bell Plan On Area Code

Missouri Attorney General Jay Nixon opposes Southwestern Bell's plan to overlay a new telephone area code with the existing 314 area code. He filed an application to intervene with the Public Service Commission, which has jurisdiction over the plan.

Nixon argues that one of Bell's major customers, state government, could be hurt by the proposed change.

"Having multiple area codes within state agencies might require an expensive retooling of our present phone system," Nixon said. "It could very well lead to a situation where someone would have to dial 10 numbers just to reach the person in the next office."

***** L.A. Gear-Ryka Merger Runs Into Trouble

L.A. Gear Inc. told Ryka Inc. it would end its agreement to acquire the cash-strapped women's footwear maker unless they can agree on new terms.

L.A. Gear cited several changes in Ryka's status since January, when L.A. Gear agreed to buy Ryka for about $16.4 million in cash and stock, plus warrants to buy L.A. Gear stock.

Earlier this month, Ryka said it was in default with a lender and reported a 1994 loss of $511,415 on sales of $16.3 million. The company also asked for a cash infusion from L.A. Gear to keep operating.

Sources said L.A. Gear might lower its bid. Ryka said if the merger doesn't go through, "there is substantial doubt that the company will be able to continue its business." Bloomberg

***** MCA Mulls Spielberg Link, Film Write-off

MCA Inc. is considering an affiliation with Steven Spielberg and David Geffen, two founding partners of the DreamWorks SKG studio, according to a Securities and Exchange Commission filing.

MCA's possible link to Spielberg and Geffen was disclosed in a stock purchase agreement between Matsushita Electric Industrial Co., the current owner of MCA, and Seagram Co. …

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