The News and Observer from Raleigh, North Carolina • 27

3D The News and Observer Raleigh NC Tuesday Dec 12 1989 Eil 3D The News and Observer Raleigh NC Tuesday Dec 12 1989 I 1 au me News ana uoserver Kaleign NA I uesday Dec 12 1989 I "PUT QUALITY IN YOUR LAP" 7 17w 'os mrrs es BellSouth drops merger pact with Lin after McCaw deal BellSouth drops merger pact curtevs4 Itifirtelduml Ancti 4 PC EXPANSIOINIS 03 A T3100e 4109 Wake Forest Rd 872-4919 02o4P MO 4 WPTF sale halted after mishap WPTF sale 11 A ro A 4( The Associated Press et 1 xl 00 0E00 0 0 Continued from page 1 panies have insurance policies for the towers and related equipment as well as any associated costs such as lost advertising revenues and the cost for getting the sta Continued from page ID New York-based Lin was expected to accept a termination settlement that would pay BellSouth $665 million Lin spokesman Michael Plouf said an agreement then would be signed to proceed with the McCaw deal McCaw Chairman Craig McCaw said BellSouth's announcement "clears the way for us to complete our acquisition" Herschel Schosteck whose Silver Spring Md company follows the cellular telephone industry said it would have been unwise for BellSouth to compete with McCaw for Lin BellSouth's generally conservative shareholders probably would be averse to a prolonged takeover battle Mr Schosteck said -A fight could have diluted earnings for years" he said Lin fell $2 to $12225 a share Monday Bellsouth rose $1 to $5450 a share and McCaw declined 75 cents to $3875 a share chael Plod said an agreement ATLANTA BellSouth Corp on Monday agreed to terminate the proposed merger of its cellular telephone interests with those of Lin Broadcasting Corp clearing the way for McCaw Cellular Communications Inc to buy a controlling interest in Lin for $338 billion Lin last week asked BellSouth to terminate its September agreement for merging the cellular telephone operations in a non-cash deal Lin last week recommended its shareholders approve McCaw's latest offer BellSouth said it was not prepared to wage a bidding war "Our merger would have created the premier cellular company in the world but such decisions ultimately must reflect economic and strategic realities" said BellSouth Enterprises President William McCoy the oronosed merger of its cella- rams 1 0 1 1 4 -401Po 0 lor i t0P r71 ext 441:11041411 Of iff 94 4 "CI 41 115M1 1614 Xtfirmon -wArilinggst A GUirglitiv porarles tions back on the air James Goodmon president of Capitol Broadcasting said his company hopes to have a new tower erected within six to nine months In the interim WRAL hopes to broadcast its signal using the tower of one of its competitors probably WKFT-TV in Fayetteville Officials at WPTF have a similar strategy using the signal of WEYD Channel 17 in Clayton until they can transfer operations to an abandoned 1350-foot tower the station owns in Apex Mr Butler estimated WPTF would begin transmitting from the Apex tower within two to six weeks Mr Goodmon and Mr Butler said they did not know whether any advertisers had asked for rebates or credit because of the lost air time or reduced market' As a result of the collapse of the towers Each station now reaches more than 85 percent of its respective market The accident occurred on one of the biggest revenue days of the week for both stations Professional football is aired Sunday afternoons over both stations and Sunday evening is the biggest viewing period of the week for CBS which is broadcast over "We're not in the business of giving rebates or our advertising" Mr Goodmon said "We believe we've restored coverage to the entire market and any sort of request like that is James FGoodmon president dons back on the air of Capitol Broadcasting said his PAITInfinV hnnpe fn hmtrn nrn- cik Three-month treasury bills Average discount rate at weekly auctions percent BO 78 1111111111111 677:46:8 60 11 88 8 8z 2220 Short-term rates on T-bills rise 1101 Lake Boone eve jfl association withRobert 0 Per 919-821-2643 800-438-3016 FIRE BURGLARY DETECTION Personnel Management Control Access Control Central Station Monitoring UL Listed Services RALEIGH CHARLOTTE WILMINGTON FIRE BURGLARY QS1 DETECTION esse eganc- If urnrclitfo NATIONAL Personnel Management Control thre A mecum office SECURITY SERVICE Access Control Central Station If UL Listed Services 919-821-2643 800-438-3016 RALEIGH CHARLOTTE WILMINGTON 1 Pifiti 4411fit 1 10112ke Boone tell CMD110 1 A 4 '19 item lotassociettionwithRobert 0 Per The Associated Press OFFICE SPACE ABOVE AND BEYOND ALL STANDARDS ICE SPACE ABOVE A Tr nin-urvvrt- AT I CT' A MTN A TIC WASHINGTON Interest rates on short-term Treasury securities rose in Monday's auction to the highest level in two weeks The Treasury Department sold $8 billion in three-month bills at an average discount rate of 760 percent up from 755 percent last week Another $8 billion was sold in six-month bills at an average discount rate of 741 percent up from 730 percent last week You've seen it from the outside at the 1S-501 Bypass Now experience it from the inside From the Andes black granite and reflective glass to the elegant mahogany oak and marble University Tower is unexcelled in design And positioned at the convergence of primary thoroughfares in southwest Durham University Tower is easily accessed from anywhere in the Triangle Furnished Executive Suites also available 1 FOR LEASING LN'FOR MA PON CALL UNIVERSITY TOWER 1 iAi AL 410 fit rkt Lwip 0 4 ci HIGI AVEDDS PROPERTIES coNli ANN 3101 Petty Road' Durham NC 27707 919489-6002 919872-4924 Treasury bills NEW YORK (AP) Overthocounter ouototions reported by the Federal Reserve Bonk oi New York: Bid Ask Chg Yld SourceBloomberg LP TREASURY BILLS Dec 14 89 8 26 8 19 Al 830 Dec 21 89 8 20 8 16 8 29 Dec 28 89 694 631 10 6 42 Jan 04 90 7 40 734 07 1 48 Jon it 90 732 125 13 120 Jon 18 90 748 7 44 16 7 60 Jon 25 90 7 63 7 59 11 771 Feb 01 90 710 766 11 785 Feb 08 90 7 69 766 09 186 Feb 15 90 769 7e3 10 7 84 Feb 22 90 7 69 763 09 7 85 Mar 01 90 769 166 06 790 Mar OB 90 767 163 05 787 Mar 15 90 7 63 759 10 785 Mor 22 90 767 763 10 790 Mar 29 90 750 747 14 774 Apr 05 90 758 753 4 06 782 Apr 12 90 971 766 09 797 Apr 19 90 7 80 775 10 8 08 Apr 26 90 763 7 59 119 792 Moy 03 90 757 750 03 7 84 May 10 90 758 753 02 788 May 17 90 758 753 02 7 89 May 24 90 7 57 753 03 7 91 May 31 90 751 7 47 4 02 7 85 Jun 07 90 7 36 731 03 769 AI 05 90 743 738 04 7 77 Aug 02 90 738 731 02 7 72 Aug 30 90 735 731 05 174 Sea 27 90 726 722 04 766 Oct 25 90 726 722 07 769 Nov 23 90 725 722 04 772 GiveThemAChoice Of The Governors Favorites forThe Holidays "With CD Rates Dropping Where Are We Going To Find A Higher Yielding Investment?" 0 kie: 4 :::41 1 ote Av rj 1 44 rPN vt i sio 4iL t4t 'F''''-: ---E -it3'1 i ---04' Stuff their stoclings with a 13 piece big band rap up a fabulous dinner buffet and a hit broad way musical A Governors Inn gift certificate of $50 or more lets them choose their favorite reason to visit the Governor Good towards dinner in The Galeria Saturday 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