Thursday, April 24, 2008

BREAKING NEWS: Star Jones Files for Divorce

BREAKING NEWS: Star Jones Files for Divorce

Former View co-host Star Jones has filed for divorce from husband Al Reynolds.

In a statement to Entertainment Tonight, Jones says: “Several years ago I made an error in judgment by inviting the media into the most intimate area of my life. A month ago I filed for divorce. The dissolution of a marriage is a difficult time in anyone’s life that requires privacy with one’s thoughts.”

The statement concludes: “I have committed myself to handling this situation with dignity and grace and look forward to emerging from this period as a stronger and wiser woman.”

Jones and Reynolds, a banker who is seven years’ Jones’s junior, married in 2004 in an elaborate ceremony - complete with controversial corporate sponsors - that included 500 guests and the bride’s arrival at the church in a horse-drawn carriage.

“Every single wedding fantasy I ever had was fulfilled, down to the most handsome groom in the history of the world,” Reynolds told PEOPLE at the time.
As early as 2006, however, Jones was putting to rest rumors that her marriage was on the rocks. “These categorically false stories and their continuation are clearly being generated by someone for vindictive reasons alone,” Jones said through her publicist.

In all, it has been a bumpy two years for the former View cohost, who parted ways with the ABC daytime program - and with its chief host and executive producer, Barbara Walters - in 2006.

In early February of this year, when her eponymous TruTV (formerly Court TV) show left the air, Jones expressed pride in her efforts and in herself.

In a statement at the time, she said, “Whenever there is a change in life, you re-assess, re-evaluate and decide if what you are doing … is what you should be doing. My answer is yes.”

Posted by InterNetics eMagazine at 16:56:54 | Permalink | Comments (2)

Arby’s owner buying Wendy’s for $2.34 billion in stock deal

By MARK WILLIAMS

COLUMBUS, Ohio (AP) - The owner of Arby’s said Thursday it is buying Wendy’s International Inc. in an all-stock deal worth $2.34 billion that comes after the burger chain’s board rejected at least two earlier offers by the company.

Triarc Companies Inc., which is owned by billionaire investor Nelson Peltz, will pay about $26.78 per share for the company, which has about 87 million shares outstanding. The price is a premium of 6 percent from the company’s closing price of $25.32 Wednesday.

Pam Thomas Farber, 53, daughter of Wendy’s founder Dave Thomas, said the family was devastated by the news.

TRIARC COS INC
Stock Ticker Chart
 NYSE:TRY
 Updated: 11:07 ET
 6.19  -0.11

WENDYS INTL INC
Stock Ticker Chart
 NYSE:WEN
 Updated: 11:09 ET
 25.20  -0.12

“It’s a very sad day for Wendy’s, and our family. We just didn’t think this would be the outcome,” she said.

If her father were alive to hear news of the buyout, “he would not be amused,” Farber said.

Wendy’s deferred comment to Triarc, which said it would discuss the deal later Thursday.
 

Under the terms of the deal, shareholders at Wendy’s, the nation’s No. 3 hamburger chain, will receive 4.25 shares of Triarc Class A stock for each share of Wendy’s stock they own.

Atlanta-based Triarc said its shareholders will have to approve a charter amendment in which each share of its Class B stock will be converted into Class A stock.

Triarc said it will also change its name to include the Wendy’s name.

The Wendy’s board has been studying strategic alternatives since early last year. Sales have slid in struggling economy that has hurt many restaurant chains.

Wendy’s shares fell 32 cents to $25 in electronic premarket trading.

Farber said the family had a supported an alternate bid led by Wendy’s franchisee David Karam, president of Cedar Enterprises Inc.

“We knew what Dave Karam’s commitment was to Wendy’s, his family’s commitment - just as ours. His dad was a very good friend of our dad’s and was one of the very first franchisees, so there’s a lot of history.”

Wendy’s also reported first quarter earnings fell 72 percent in part because of expenses tied to a board committee’s search for alternatives that would boost the company’s shares.

Wendy’s said Thursday that its profits totaled $4.1 million, or 5 cents, a share for the quarter ended March 30 compared with a profit of $14.7 million, or 15 cents a share, a year ago. Revenue was down slightly to $513 million from $522 million a year ago.

Associated Press writer Doug Whiteman contributed to this story.

04/24/08 09:17 © Copyright The Associated Press. All rights reserved. The information contained In this news report may not be published, broadcast or otherwise distributed without the prior written authority of The Associated Press.

Posted by InterNetics eMagazine at 16:33:41 | Permalink | Comments (2)