Turner tries to get film rights
Turner Broadcasting System Inc. disclosed yesterday that it is close to signing deals with two major Hollywood studios for exclusive rights that would raise its movie library to about 4,000 films.
A Turner Network Television executive said the cable TV giant was in "deep conversations" with several studios including Warner Bros., Sony Corp.'s Columbia Pictures Entertainment Inc., Twentieth Century-Fox Film Corp. and United Artists Corp.
GM sells Lotus subsidiary
General Motors Corp. said yesterday that it has sold its Group Lotus subsidiary and Lotus Cars U.S.A. to Italian automaker Bugatti International S.A.H. for an undisclosed sum, after about six months of negotiations.
The move is the first by a U.S. Big Three automaker to divest a premium-priced carmaker acquired in the 1980s. A Lotus USA official said he believed the transaction is a cash deal.
UNC awarded Navy contract
UNC Inc. received a $49.4 million Navy aircraft maintenance contract.
The contract extends through August 1998 and will involve workers in Meridian, Miss.; Kingsville and Corpus Christi, Texas; and Pensacola, Fla. The Annapolis-based company will provide maintenance services for the T-2C and TA-4J platforms.
Tracor completes Vitro acquisition
Texas-based Tracor Inc. has completed its previously announced $94 million acquisition of Vitro Corp., a defense contractor in Silver Spring.
Tracor said it planned to retain the company's 1,900 workers in Maryland while consolidating operations in Silver Spring and Rockville. State officials had been concerned that Tracor might shift the jobs to Texas.
2 aerospace firms strike deal
British Aerospace and Taiwan Aerospace Corp. agreed on terms for financing a joint venture to build regional passenger jets, overcoming concerns by bankers who sought property as collateral for loans.
Reebok sued over shark logo
Tiger Shark Golf, Inc. said it is suing Reebok International Ltd. and Great White Shark Enterprises, a firm owned by golfer Greg Norman, for trademark infringement and unfair competition.
San Diego-based Tiger Shark said Reebok used a shark logo nearly identical to its own registered marks on a variety of golf apparel and shoes under license from the Norman-owned company.