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Technology Stocks : The Learning Company (TLC) -- Ignore unavailable to you. Want to Upgrade?

To: Thomas C. Donald who wrote (5265)	7/31/1998 3:35:00 PM
From: Maya	Respond to of 6318

Here's some details on the second item on your response biz.yahoo.com riday July 31, 2:53 pm Eastern Time Company Press Release SOURCE: Tribune Company Tribune Prices $128.5 Million DECS Offering CHICAGO, July 31 /PRNewswire/ -- Tribune Company (NYSE: TRB - news) announced today the pricing of its offering of three-year notes in the form of Debt Exchangeable for Common Stock(SM) (DECS(SM)) exchangeable at maturity on August 15, 2001 into The Learning Company common shares (NYSE: TLC - news) or, at Tribune's option, into an equivalent amount of cash. Salomon Smith Barney was the sole manager on the offering. Tribune has offered 4.6 million DECS at an issue price of $27.9375 per DECS, for gross proceeds of $128.5 million. The coupon on the DECS is 6 1/4 percent, and the notes are not callable prior to maturity. The DECS will be listed on the NYSE under the symbol ''TRD.'' Tribune has granted to Salomon Smith Barney an over-allotment option to purchase up to .6 million (the remaining shares held by Tribune) additional DECS at the issue price. With the DECS structure, Tribune retains all of the first 20.4 percent market value appreciation in The Learning Company common stock from $27.9375 and 16.9 percent of all further appreciation above $33.625, but does not share in any decline in value of TLC common shares below $27.9375. ''This offering is part of our ongoing strategy to liquidate part of our portfolio on a timely basis,'' Donald C. Grenesko, Tribune senior vice president/finance and administration, said. Tribune acquired its 5.2 million shares of TLC common stock in connection with its sale of its Compton's New Media subsidiary to The Learning Company in December 1995. Tribune is a leading media company with operations in television and radio broadcasting, publishing, education and interactive ventures. It is an industry leader in venture partnerships with new-media companies. Tribune ranked No. 1 among its industry peers in Fortune magazine's 1998 list of America's most-admired companies and No. 2 among Broadcasting and Publishing companies in Business Week's 1998 industry rankings of the S&P 500.

To: Thomas C. Donald who wrote (5265)	7/31/1998 5:39:00 PM
From: paul richards	Read Replies (1) \| Respond to of 6318

regarding our earlier debate #5107, whether or not trib is selling tlc, a quote from today's press release: ''This offering is part of our ongoing strategy to liquidate part of our portfolio on a timely basis,'' Donald C. Grenesko, Tribune senior vice president/finance and administration, said. so Trib is selling tlc! in summary ytd, the spring run up in hype has resulted in trib bailing out, some insider selling, loomis buy of debt for shares, and some cdn institutions holding convertibles. who paid for all this? the individual investor who bought into the analysts' hype. why the sell off? see these posts #5130, #5185