Newspaper article THE JOURNAL RECORD

Briefly.Worldwide

Newspaper article THE JOURNAL RECORD

Briefly.Worldwide

Article excerpt

AT&T Announces Key Phone Systems NEW YORK (AP) - American Telephone & Telegraph Co. announced Tuesday two lines of key phone systems for small and medium-sized businesses that it said will eventually replace its market leading Merlin line.

AT&T has the biggest share of the market for small office phone systems. Its competitors include Northern Telecom Ltd.; Rolm Corp., a subsidiary of International Business Machines Corp.; and TIE Communications Inc.

AT&T said the two new lines offer more features at a better price than the original Merlins.

Bally to Sell Six Flags Parks CHICAGO - A definitive agreement has been reached for Bally manufacturing Corp. to sell its Six Flags theme amusement parks to an East Coast investment company for $350 million, Bally Manufacturing said Tuesday.

The sale to a subsidiary of Wesray Capital Corp. is part of Bally's restructuring to become more of a gaming company, said William H. Peltier, Bally's vice president for communications.

Under the agreement, Bally will pay off $250 million in Six Flags debt and receive gross proceeds of $350 million from Wesray. After-tax profit will amount to about $100 million, Bally said.

Bally said it expected to close the deal in early May.

Six Flags opeates seven major theme amusement parks and two water parks, as well as other family-oriented entertainment facilities.

Six Flags theme parks are in Houston and Arlington, Texas; Mableton, Ga., near Atlanta; Eureka, Mo., near St. Louis; Jackson, N.J.; Gurnee, Ill., in the Chicago-Milwaukee region; and Valencia, Calif., in the Los Angeles area. Water parks are at Hollywood, Fla. and Houston.

Chapman Extends Offer DALLAS - Chapman Energy Inc. has extended the expiration date of its exchange offer for its outstanding 12 percent senior subordinated debentures due 2000 until 5 p. …

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