January 24, 2005 |
After having one potential buyer drop out several months ago, Chestnut Hill HealthCare has reached a deal to be acquired by a for-profit joint venture. Under the deal, the small, independent health system anchored by Chestnut Hill Hospital in northwestern Philadelphia would be bought by the joint venture formed by Community Health Systems Inc., of Brentwood, Tenn., and the University of Pennsylvania Health System for $25 million. The sale of Chestnut Hill, which must be approved by Philadelphia Orphans' Court and the Pennsylvania attorney general, is expected to be completed in March.
May 4, 1994 |
Eastman Kodak Co. yesterday confirmed the rumors: Its pharmaceutical and health-products subsidiary, Sterling Winthrop Inc., is for sale. The announcement raises the possibility that the European operations of Sterling Winthrop, whose American research headquarters is in Montgomery County, could end up with the same French owners as the former Pennwalt Corp., now Elf Atochem North America Inc., in Center City. A German suitor for Sterling Winthrop also came into the picture.
November 22, 1994 |
The dance is over, and Channel 10 is going home with NBC. Come next fall, Philadelphia channel surfers will find Seinfeld, Blossom and the Today show on Channel 10 (WCAU). Murphy Brown, 60 Minutes and Dr. Quinn, Medicine Woman will be on Channel 3 (KYW). Jay Leno and David Letterman will play musical channels, too. As part of a wide-ranging agreement announced yesterday, NBC and CBS will swap the stations they own in Philadelphia, the country's fourth-largest TV market, and Denver, the 21st.
July 17, 2015 |
The chief operating officer of Philadelphia Energy Solutions Inc. resigned quietly in April, only 13 months after he was brought in to run the sprawling former Sunoco refinery in South Philadelphia, a filing with the U.S. Securities and Exchange Commission reveals. The company did not disclose in the filing this month the reason for David M. Ritter's termination as executive vice president. Ritter, in a telephone interview Wednesday, said he resigned for "personal reasons. " Chief executive officer Philip L. Rinaldi said Ritter departed on "friendly terms.
May 21, 2015 |
New York-based Carey Watermark Investors plans a $21.3 million renovation of the Ritz-Carlton Philadelphia hotel after acquiring a majority interest in the property, the company said in a release. The renovation, to be done in a joint venture with previous full-owner Philadelphia Hospitality Partners, will cover the South Broad Street hotel's 299 guest rooms, lobby, ballroom and other spaces, Carey Watermark said. Work is due to be completed before the end of June 2016, the company said.
August 15, 2008 |
Boscov's Department Stores L.L.C., which filed for bankruptcy protection last week, announced today that it will begin store-closing sales at 10 stores on Saturday. The closing locations include two Boscov's in the Philadelphia area - at the Oxford Valley Mall in Langhorne, and the Montgomery Mall in North Wales. The Reading-based chain is closing 10 of its 49 stores in a reorganization under a Chapter 11 bankruptcy. Other closing locations where sales will be conducted are in Baltimore, Glen Burnie, and Owings Mill, Md.; Eatontown, N.J.; Harrisburg, Monroeville and Pittsburgh in Pennsylvania; and Danville, Va. The sales will be operated by a joint venture of retail advisors Gordon Brothers Group L.L.C.
September 7, 2011
Consol Energy Inc. announced Wednesday that it is entering into a joint venture with Hess Corp. to explore and develop Consol's 200,000 acres of Utica Shale in Ohio for natural gas. Consol will receive consideration of $593 million. The deal is the second big shale-gas transaction that Consol has announced in recent weeks. In August, the Canonsburg, Pa., company - best known as a coal producer - announced a $3.4 billion joint venture with Noble Energy Inc. to develop about 663,500 acres of Marcellus Shale leases in Pennsylvania and Ohio.
May 18, 1987 |
Officials of the Pennsylvania Ballet and Milwaukee Ballet have signed an agreement that makes their marriage official. Papers uniting the two companies were officially endorsed on Friday, concluding negotiations that began shortly after the two organizations agreed on Jan. 29 to creation of a joint company that will begin performances in the 1987-88 season. The agreement provides for three entities: the two existing member companies and a new joint-venture company, not yet named.
September 4, 1987 |
DX Imaging, a new joint venture of Xerox Corp. and Du Pont Co., plans to move to Uwchlan Township, Chester County, by early next year. The company, formed to develop color-printing and copying machines, expects to employ 200 people within a year in the former Exxon Building on Gordon Drive in Pickering Creek Industrial Park, James E. Shapiro, DX president and chief executive officer, said yesterday. Until this week, DX's parent companies have said only that they were "looking at" locating in the Philadelphia area and, specifically, in Chester County near other high-technology companies.
June 19, 2002 |
Agere Systems to be part of joint venture on chips Agere Systems, Inc., of Allentown, will be part of a joint venture with Motorola Inc. and German chipmaker Infineon to develop and market chip technology for mobile phones and consumer electronics. The new firm, called StarCore, will be based in Austin, Texas. It will have about 100 employees. Delco firm to swap its biz with Leggett & Platt's Foamex International Inc., of Linwood, Delaware County, has signed a letter of intent to transfer its carpet-cushion business to Leggett & Platt in exchange for the latter's polyurethane foam business and an unspecified cash payment.