() Comments
Business today
By By
n NEW YORK
Mattel gets into
computer games
Mattel Inc. took its biggest step yet toward expanding beyond Barbie dolls and Hot Wheels cars into the fast-growing world of high-tech toys, announcing its purchase of The Learning Company Inc., maker of software games Riven, Myst and Carmen Sandiego.
The world's biggest toymaker also warned its earnings will be lower than expected largely due to a significant shift in buying practices from many of its important retail customers. Shares of Mattel dropped $8.12 to $22 in trading on the New York Stock Exchange.
n NEW YORK
Citigroup Inc. is believed to be close to announcing a massive restructuring that will likely mean thousands of job cuts and slice $1 billion out of its profits, most of it in the fourth quarter of this year.
The board of directors of the financial services conglomerate meets Tuesday. Citigroup spokesman John M. Morris declined comment Monday on a Wall Street Journal report about the planned restructuring, but said ``it would make sense" that the board would discuss a cost-cutting program at the meeting.
n MINNEAPOLIS
Satellite TV giants are joining forces
Two of the biggest players in satellite television programming are combining, creating a powerful new competitor in the business of beaming TV signals in America's homes through pizza-sized satellite dishes.
Hughes Electronics Corp. owner of DirecTV will buy U.S. Satellite Broadcasting Co., its main programming affiliate, for $1.3 billion in stock and cash, the companies announced Monday.
n NASHVILLE, Tenn.
Racine's Leopold on Gaylord board
The majority owner of the Nashville Predators of the National Hockey League was named Monday to the board of directors of Gaylord Entertainment.
Craig L. Leipold is also CEO of Rainfair Corporation in Racine, a manufacturer and importer of rainwear. Gaylord, a minority owner of the Predators, has interests in broadcasting, music publishing and music venues like The Grand Ole Opry and the Ryman Auditorium
Special Offer: Get 5 Weeks of the Journal Times for $7!
|
 |
|
| Taking a year off is Holmgren's best alternative | Zahn's closing marked and end of an era for downtown |
