Carmike Cinemas shares have hit an all-time high, apparently on rumors of its acquisition of a theater chain. VP/finance John Barwick said Carmike has “over $ 50 million in cash on our balance sheet which we raised specifically for acquisitions and expansions.”
He also said it expects to post record earnings for the third quarter, ending Sept. 30. Carmike shares reached 19 1/2 Wednesday before closing at a 52 -week high of 18 1/2, up 3/4.
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The Federal Trade Commission wants additional information on QVC Network’s proposed merger with Home Shopping Network. QVC said the request will extend the waiting period on the merger until 20 days after it provides the information.
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San Antonio-based broadcaster Clear Channel Communications will sell 1.5 million shares, while company chairman L. Lowry Mays and director B.J. McCombs will sell 200,000 each, according to an SEC filing. Proceeds will go to repay debt.