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Monday, June 21, 1999 Media Cynic | Forum | Advertising | Classifieds | Jobs Viacom Completes Tender Offer for Spelling Viacom Inc. has announced that it has completed its tender offer for all outstanding shares of common stock of Spelling Entertainment Group Inc. that it does not already own for $9.75 per share in cash. The tender offer expired as scheduled at 12:00 midnight, New York City time, on Friday, June 18, 1999. The tendered shares along with the shares of common stock already owned by Viacom represent approximately 97.2% of all of the issued and outstanding shares of Spelling. The tender offer was made under the terms of a merger agreement between Spelling and Viacom. Also under that merger agreement, Viacom will acquire all of the remaining shares of Spelling it does not own in a merger to take place later this week. Spelling Entertainment Group Inc. is a leading producer and distributor of television and film entertainment and comprises Spelling Television, Big Ticket Television, Worldvision Enterprises and Hamilton Projects. The Company is one of the largest producers of television programming and, through its combined libraries, controls approximately 10,000 hours of programming for worldwide distribution. Viacom Inc. is one of the world's largest entertainment companies. The operations of Viacom include Blockbuster, MTV Networks, Paramount Pictures, Paramount Television, Paramount Parks, Showtime Networks, Simon & Schuster, 19 television stations, and movie screens in 12 countries. Viacom also owns half-interests in Comedy Central, UPN and UCI. National Amusements, Inc., a closely held corporation which operates approximately 1,300 screens in the U.S., the U.K. and South America, is the parent company of Viacom. Pearson Sells Macmillan Library Reference Pearson plc, the international media company, has agreed the latest of the planned disposals of a number of its reference and business & professional publishing operations. Pearson is to sell Macmillan Library Reference USA to The Thomson Corporation for $86m. Macmillan Library Reference USA publishes books for high school, college and public libraries. It specialises in two distinct product lines: premium quality reference materials for libraries and higher education institutions and large print fiction and non-fiction publishing for public library users. Pearson announced on 25 January that it planned to sell a number of its reference and business & professional operations. On 17 May, Pearson announced the sale of medical publisher, Appleton & Lange, and Master Data Center, which provides payment services for the owners of intellectual property, for a total of $79m. This was followed by the sale of Jossey-Bass to John Wiley and Sons, Inc. for $82m and the sale of Bureau of Business Practice to Wolters Kluwer for $16m, these deals were confirmed on 24 May. Pearson also plans to sell Macmillan General Reference and Prentice Hall Direct. Metro Global Media Announces Possible Sale of Fanzine International, Inc. Metro Global Media, Inc. has announced that the Board of Directors has voted to explore its options relating to its newly acquired mainstream publishing company, Fanzine International, Inc. These options include, but are not limited to, a spin-off, sale, merger or rights offering. Metro Global Media, Inc. acquired Fanzine on July 31, 1998. Fanzine publishes Celebrity Style, Teen Celebrity, Celebrity Style 101 Hairstyles, Gym, Burn, Blast and other popular consumer publications. Metro Global's Chief Financial Officer, Janet Hoey, stated, "The Board has decided to proceed in this matter with the goal to unlock Fanzine's true value, as well as to increase Metro Global Media's shareholder value. Fanzine has appreciated considerably in a short time and projections indicate this growth will continue. Management believes that splitting the two companies would allow Fanzine to continue its steady growth, while being in a position to independently and more effectively capitalize on its earning potential. Metro Global and its stockholders would benefit considerably by gaining additional working capital for its planned expansion, while still retaining a significant interest in Fanzine." CyberTip4theDay.com Passes One Million Mark CyberTip4theDay.com, launched in March, is now delivering more than one million tipletters monthly, to a primarily US-based readership. CyberTip4theDay is an Internet-based service which provides advice by email on a variety of subject, ranging from tips on car-buying to dieting to job search and development. "The members of the Internet community are very goal-oriented and time-conscious," says CyberTips founder Dr. Dan Berman. "We all want more information in less time and we want to have fun in the process of acquiring it. The CyberTip4theDay.com service was designed with this in mind." PrimeSeason.com Magazine Launches EMS Productions, Inc. announced the creation and launch of its new website PrimeSeason.com, an online magazine designed primarily for adults over 40. "PrimeSeason.com is committed to bringing our audience information that adds value to their busy and active lifestyles; articles about health, money, family, leisure, and more," said Eileen Sullivan, company president. "PrimeSeason.com is divided into five main sections for our readers," said Mrs. Sullivan. "Our "Family" section presents our readers with some of life's everyday issues and how individuals learn to deal with these issues. Our writer's insight and approaches may provide help or incentive to achieve more satisfaction in everyday living. Our "Money" section gives information to assist you in planning and meeting your financial objectives. Articles written by experienced financial planners, investment counselors and others are included to give you information on financial techniques, strategies, and products. Over time this information will be valuable to you in developing your own plan. Our "Health" section brings you articles on all types of health-related issues - topics dedicated to keeping you informed, healthy and fit and understanding how people can stay healthy and independent, as they grow older. Our "Leisure" section is dedicated to bringing you information on travel, food and topics off the beaten track, and our "& More" section is always changing bringing you information on many topics. Don't miss our Greetings section," said Mrs. Sullivan, "Here you will find a poem, daily cartoon & horoscope. You can even send electronic cards, flowers and balloon bouquets!" Around the Web BBC Wild in the U.S. Debuts Today Editor & Publisher The Case of the Malicious Critic Salon.com Columnist Goes After Story, and Becomes One Fox News Drudge is Getting a National Radio Shaw NY Post Meredith Launches Online/Print Program Media Central Soldati, Italian Writer, Director Dies CNN Stephen King Accident Recovery Update Stephen King Official Website Stephen King Cracking Jokes Following Surgery CNN What's Wrong with Web Journalists Becoming Stock Tycoons? 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