IN BRIEF
Reno company buys two LV radio stations
Beasley Broadcast Group Inc., a Naples, Fla.-based radio station operator, on Friday said it agreed to sell two Las Vegas radio stations to Reno-based Silver State Communications for $15.25 million.
The sale, which is expected to close in the third quarter, will give Silver State Communications KBET-AM (790) and KCYE-FM (104.3).
After the sale, Beasley will move KCYE-FM's country music format to its sister station, KFRH-FM (102.7).
Beasley Broadcast shares rose 38 cents, or 17.12 percent, Friday to close at $2.60 on the Nasdaq National Market.
ATLANTIC CITY
Icahn group seems to win Tropicana bid
A group including billionaire investor Carl Icahn appeared to have won the right to buy the Tropicana in Atlantic City at the bargain price of $200 million after no additional bids were submitted by the Friday deadline.
The casino had been expected to fetch nearly $1 billion before the recession sent the price plummeting.
Sean Mack, an attorney for the conservator assigned to sell the Tropicana, said an after-hours offer from a potential purchaser might materialize, but none had been received two hours after the 5 p.m. deadline. It was unclear whether such an offer could be accepted.
NEW YORK
Bond yields decline as Treasurys recover
Long-term bond yields fell again on Friday as investors returned to the Treasury market for the second day running.
The benchmark 10-year Treasury note rose 1.19 to 97.16, pushing its yield down to 3.46 percent from 3.67 percent late Thursday.
The 30-year bond rose 2.38 to 98.5, sending its yield down to 4.33 percent from 4.53 percent.
