THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Thursday, February 1, 1996 TAG: 9602010294
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Medium: 61 lines
Family Channel ratings high during 4th-quarter
International Family Entertainment Inc. said that fourth-quarter prime-time ratings for its subsidiary, The Family Channel, were the highest for the network since the first quarter of 1985. Virginia Beach-based IFE said that, according to A.C. Nielsen figures, it achieved a household rating of 1.3 in the latest quarter - meaning that 1.3 percent of all households capable of viewing the channel were tuned in on average. In addition, IFE said that first-quarter 1996 Family Channel ratings have started out strong. The cable-TV network's Jan. 7 original movie, ``Stolen Memories: Secrets from the Rose Garden,'' starring Mary Tyler Moore, captured the highest household audience every for Family Channel, according to Nielsen. On average, 3.26 million households tuned in for the movie. (Staff)
IBM buys software maker Tivoli for $734 million
IBM agreed to pay $734 million to buy Tivoli Systems Inc., a mid-sized software company that helps companies switch from mainframes to networks of smaller computers. The purchase underscores the tidal shift in the way IBM's biggest customers design their computer systems, relying less on mainframes as the focus of their data processing. Combined with last year's purchase of Lotus Development Corp. and its flagship Notes software, IBM is trying to expand its presence in computer networking. IBM said it would pay $47.50 per share, a 26 percent premium over Tivoli's closing price of $37.75 on the Nasdaq Stock Market Tuesday. Tivoli's shares immediately shot up to match IBM's offer. (Associated Press)
Corning wants to dump lab-services division
Corning Inc. is negotiating a merger of its laboratory services division with SmithKline Beecham PLC's lab unit, sources familiar with the talks said. Such a deal would likely create the nation's largest lab-testing company and the transaction could top more than $1 billion. An industry source said Corning is anxious to dump its lab services and might turn to other potential buyers such as buyout funds or the Laboratory Corp. of America Holdings. Corning Clinical Labs operates a national network of clinical testing laboratories and patient-service centers. It had sales of about $1.6 billion last year. SmithKline's lab division had sales of $967 million for the nine months ending Sept. 30. (AP)
Pharmacists present plan to settle with drug makers
A proposed settlement to a suit charging that drug makers discriminate against pharmacists by denying them discounts will be presented in court today, said John Rector, general counsel of the National Association of Retail Pharmacists. The pharmacies are seeking to halt the drug industry's practice of offering price discounts only to bulk buyers such as pharmacy benefits managers and health-management companies. The drug makers involved in the settlement discussions included: Abbott Laboratories, American Home Products Corp., Pfizer Inc., Merck & Co., Bristol-Myers Squibb Co., Ciba-Geigy AG, Knoll Pharmaceuticals Ltd., Glaxo Wellcome PLC, Eli Lilly & Co., Schering-Plough Corp., SmithKline Beecham PLC, Warner-Lambert Co., Zeneca PLC. (Bloomberg Business News) by CNB