After FTC Approves, Salt Lake Tribune Sale Completed

Despite many attempts by the management of the Salt Lake Tribune to block its sale, Denver-based Media News Group completed its acquisition of the Tribune yesterday, following the approval of the sale by the U.S. Federal Trade Commission. The commission reviewed the sale and approved it December 22nd, but only announced the approval on Friday, December 29th.

Marriott Stocks Keep MSI From Year-end Dive

Marriott Corp. and Host Marriott both rose in the last week of the year, keeping the Mormon Stock Index from falling in the last week of the year. Instead, the index rose by less than two-thirds of one percent. The index finished the year at 107.5025, a rise of 7.5% for the year.

News

Huntsman Buys Unit of French company Rhodia S.A. SALT LAKE CITY, UTAH -- Closely-held Huntsman Corp., owned by LDS billionaire Jon Huntsman, purchased a unit of French chemical company Rhodia S.A. that makes cleaning fluids and detergents. The unit, Albright &Wilson PLC, has annual sales of about $372 million. The deal requires the approval of both European Union regulators and the US Federal Trade Commission.

Business Digest: Huntsman Corp. Agrees To Buy French Company Salt Lake Tribune 30Dec00 B4

Finance

I-Link Deal With Red Cube Falls Apart DRAPER, UTAH -- I-Link announced January 2nd that the deal to sell a controlling interest in the firm to Swiss software firm Red Cube International AG fell apart when Red Cube failed to make the required payment. The controlling stake has been owned by Winter Harbor, L.C., a unit of LDS Church member Richard Marriott's First Media Corp. I-Link CEO John Edwards expressed relief at the turn of events, claiming that Red Cube had failed to generate the business for I-Link that it had promised, failed to provide the capital I-Link needed for its operations, and sought day-to-day control of the firm. Red Cube had earlier made one $20 million payment out of $60 million due in the transaction.

I-Link Responds to Red Cube's Amended 13D Filing BusinessWire 2Jan01 B4

Obituaries

Former Magazine Distributor Edwin L. Madsen SALT LAKE CITY, UTAH -- Edwin L. Madsen, 91, former owner of Bonneville News Company in Utah and part-owner of Arrowhead News Company in San Bernardino, California died December 29th of causes incident to age. Madsen worked for the magazine and newspaper distributor Utah News Company, which merged into several competitors to form Bingham News Company, where he became manager. He then bought the equity in the company and renamed it Bonneville News Company. He sold the company in 1966 to the giant magazine distributor Aramark Corporation. Madsen was also active in the publishing industry, and following the sale of Bonneville, in a family real estate holding company. He and his wife gave the naming gift for the Edwin L. and Grace G. Madsen Preventive Cardiology Program in the Red Butte Health Center.

Edwin Lund Madsen Salt Lake Tribune 1Jan01 B2

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