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Tampa Tribune

Published: November 30, 2007

TAMPA BAY AREA

Tampa To Host Conferences

Tampa Bay & Co., which promotes Hillsborough County as a visitors destination, has recruited to Tampa the Clinical Laboratory Management Association's2009 annual meeting with 2,000 attendees. Tampa beat Denver and Indianapolis for the conference business. Its expenditures could result in local economic impact of $3.7 million, Tampa Bay & Co. communications manager Travis Claytor said.

Tampa Bay & Co. also recently recruited the Lions Club International USA/Canada Lions Leadership Forum in 2012, beating out Phoenix and Detroit, among other cities, Claytor said.

NATION

FCC Approves Sale

The Federal Communications Commission has approved the $1.3 billion sale of 35 television stations owned by Clear Channel Communication to Newport Television LLC, a private equity group, subject to certain conditions.

Newport is an investment group controlled by Providence Equity Partners. The sale will result in a violation of FCC ownership rules in nine markets and will require the divestiture of several stations.

The sale was conducted within the context of a much larger plan to take Clear Channel private. Last month, shareholders approved the $19.5 billion sale of the company to a private equity group led by Thomas H. Lee Partners LP and Bain Capital Partners LLC for $39.20 per share.

Hershey Exec Resigning

Hershey Co., the U.S. chocolate maker that replaced eight of its 11 board members this month, said Chief Global Growth Officer Thomas Hernquist will resign Dec. 31. Hernquist's resignation comes one day before Chief Executive Officer Richard Lenny is scheduled to step down. A group of independent directors resigned at the request of the trust that controls the company and has complained about the company's stock performance, which has dropped 20 percent this year.

Wendy's Deal in Limbo

Wendy's International CEO Kerrii Anderson said she has not spoken with billionaire investor Nelson Peltz since his Triarc Cos. offered to buy the hamburger chain for about $3.2 billion.

The restaurant chain's board appointed a committee of board members in April to explore a possible sale after the company spun off its Tim Hortons coffee-and-doughnut chain, the biggest driver of Wendy's profit in recent years.

Wendy's stock is down 14 percent since it said it was exploring a sale.

A staff and wire report

Watch the Tribune's Business report at 5, 6 and 11 a.m. Tuesday-Friday and 9 a.m. Saturdays on WFLA-TV.

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