wsj_0175.xml
WSJ891102-0015
WSJ891102-0015
=
891102
=
891102
891102-0015
.
891102-0015
.
Marketing
Brief
--
Sony
Corp.
:
@
Japanese
Concern
Completes
@
Offer
for
Columbia
Pictures
Marketing
Brief
--
Sony
Corp.
:
@
Japanese
Concern
Completes
@
Offer
for
Columbia
Pictures
11/02/89
11/02/89
11/02/89
WALL
STREET
JOURNAL
(
J
)
WALL
STREET
JOURNAL
(
J
)
SNE
KPE
GPEC
WCI
TL
SNE
KPE
GPEC
WCI
TL
RECREATION
,
ENTERTAINMENT
,
TOYS
,
MOVIES
,
PHOTOGRAPHY
,
SPORTS
(
REC
)
TENDER
OFFERS
,
MERGERS
,
ACQUISITIONS
(
TNM
)
MEDIA
,
PUBLISHING
,
BROADCASTING
,
ELECTRONIC
PUBLISHING
(
MED
)
RECREATION
,
ENTERTAINMENT
,
TOYS
,
MOVIES
,
PHOTOGRAPHY
,
SPORTS
(
REC
)
TENDER
OFFERS
,
MERGERS
,
ACQUISITIONS
(
TNM
)
MEDIA
,
PUBLISHING
,
BROADCASTING
,
ELECTRONIC
PUBLISHING
(
MED
)
Sony
Corp.
completed
its
tender
offer
for
Columbia
Pictures
Entertainment
Inc.
,
with
Columbia
shareholders
tendering
99.3
%
of
all
common
shares
outstanding
by
the
Tuesday
deadline
.
Sony
Columbia
Acquisition
Corp.
,
formed
for
the
Columbia
deal
,
will
formally
take
ownership
of
the
movie
studio
later
this
month
,
a
spokesman
said
.
Sony
is
paying
$
27
a
share
,
or
$
3.55
billion
,
cash
and
is
assuming
$
1.4
billion
of
long-term
debt
.
Still
unresolved
is
Sony
's
effort
to
hire
producers
Jon
Peters
and
Peter
Guber
to
run
the
studio
.
Sony
's
planned
acquisition
of
Guber\/Peters
Entertainment
Co.
for
$
200
million
is
scheduled
to
close
Monday
.
Guber\/Peters
has
been
locked
in
litigation
with
Warner
Communications
Inc.
in
an
attempt
to
get
out
of
an
exclusive
production
contract
with
Warner
.
Both
sides
are
in
talks
to
settle
the
dispute
.