Newspaper article THE JOURNAL RECORD


Newspaper article THE JOURNAL RECORD


Article excerpt

NBC Wins 1992 Olympic TV Rights NEW YORK - NBC won the U.S. television rights to the 1992 Summer Olympics in Barcelona, Spain, The learned Thursday.

NBC, which televised the Summer Olympics in Seoul, had been considered a longshot to get the Barcelona rights. CBS was favored because it already owns the TV rights to the 1992 Winter Games in Albertville, France.

The amount of the winning bid was not immediately known, but a source said NBC's bid was ``substantially higher'' than CBS'. Olympic officials were seeking a minimum of $350 million.

NBC paid $300 million for the TV rights in Seoul; ABC paid $309 million for the rights to the Winter Olympics in Calgary, Canada, and lost an estimated $75 million. Sources said NBC made a ``modest'' profit in Seoul, but much lower than expected due to disappointing ratings that forced the network to give sponsors free advertising.

McGraw-Hill Acquires Random House Divisions McGraw-Hill Inc. has completed the acquisition of the assets of the college and school divisions of Random House Inc. for about $200 million in cash, the firm reported Thursday.

As a result, McGraw-Hill will become one of the largest publishers of educational books.

Some 300 former Random House employees will join McGraw-Hill's Education Group.

The acquisition was completed Wednesday.

Triton Energy Buys Hughes Aviation DALLAS - A purchase agreement for the acquisition of Hughes Aviation Services of Las Vegas was announced Thursday by Triton Energy Corp. of Dallas.

The $19.2 million purchase will be made by Triton Air Holdings Inc., a wholly-owned subsidiary of Triton Energy. The purchase prices excludes working capital and the assumption of certain other obligations, Triton said.

In May, Triton purchased virtually all the assets of Jet Away Management Inc. based in Wiley Post Airport in Oklahoma City. …

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