The $5,850m tender offer launched by McCaw Cellular Communications Inc for LIN Broadcasting Corp, New York has been called into question by a decision in the New York Court of Appeals that Metromedia Inc need not sell LIN its holdings in cellular franchises in two of the major big city markets McCaw is keen to […]
The $5,850m tender offer launched by McCaw Cellular Communications Inc for LIN Broadcasting Corp, New York has been called into question by a decision in the New York Court of Appeals that Metromedia Inc need not sell LIN its holdings in cellular franchises in two of the major big city markets McCaw is keen to enter – New York City and Philadelphia. Kirkland, Washington-based McCaw, in which British Telecommunications Plc has just over 20%, says it is reviewing its tender offer for LIN in light of the ruling.
