IN BRIEF
Citadel Broadcasting will sell more stations
Citadel Broadcasting Corp., a Las Vegas-based operator of AM and FM radio stations, said Thursday that it plans to sell additional stations beyond those required after its purchase of ABC Radio.
Credit Suisse Securities LLC and Deutsche Bank Securities were hired as financial advisers to assist with the sale, Citadel said in a statement distributed by Business Wire.
Citadel Broadcasting shares rose 3 cents, or 1.45 percent, Thursday to close at 2.10 on the New York Stock Exchange.
NEW YORK
Murdoch closes deal to acquire Dow Jones
Rupert Murdoch completed his $5 billion-plus deal to acquire Dow Jones & Co. on Thursday, adding The Wall Street Journal to his global media conglomerate News Corp. and ending a century of control by the Bancroft family.
The changeover is sure to bring significant changes to the Journal, starting with a new management team that was announced late last week. Longtime News Corp. publishing executive Les Hinton will be chief executive, while Robert Thomson, editor of Murdoch's The Times newspaper in London, will be publisher. Several Dow Jones executives are departing, including CEO Richard Zannino.
Shareholders approved the deal by a margin of 60.3 percent. About 78 percent of the company's publicly traded shares were voted for the deal, while 54 percent of the Class B shares, which are largely held by the Bancrofts, were in favor.
Samaritan will drop from stock exchange
The American Stock Exchange has started delisting Samaritan Pharmaceuticals, a Las Vegas-based development stage biopharmaceutical company. The company on Thursday said it seeks to move its stock to the Over-the-Counter Bulletin Board.
Samaritan reported that it didn't meet Amex requirements for a minimum of $6 million in equity by a Nov. 30 deadline. The pharmaceutical company said it has increased shareholder equity to $3 million.
Samaritan said its shares will trade on the Pink Sheets if it fails to qualify for the bulletin board.
WASHINGTON
Mortgage rates stop slide, rise during week
Mortgage rates, which had been sliding, went up this week, disappointing news to would-be home buyers.
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.11 percent. That was up from last week's rate of 5.96 percent. Until this week, rates on 30-year mortgages had been falling or holding steady each week since mid-October.
Meanwhile, rates on 15-year fixed-rate mortgages, a popular choice for refinancing, rose to 5.78 percent, from 5.65 percent last week.
NEW YORK
Treasurys sold off as doubts arise over plan
Treasury prices sold off sharply Thursday as doubts surfaced about a coordinated plan by five central banks to keep stressed capital markets funded at year-end.
The benchmark 10-year Treasury note fell 0.84 points to 100.94 with a yield of 4.17 percent, up from 4.09 percent late Wednesday. Prices and yields move in opposite directions.
The 30-year long bond plunged 1.53 to 106.22 with a yield of 4.61 percent, up from 4.54 percent Wednesday.
More selling after hours sent yields still higher. At
5:30 p.m. EST, the 10-year yield rose to 4.21 percent, the 30-year yield advanced to 4.65 percent and the 2-year yield increased to 3.25 percent.
