LG's new Zenith.(LG Group Inc. plans to buy Zenith Electronics Corp.)
HFN: The Weekly Newspaper for the Home Furnishing Network, July, 1995 by Bloomfield, Judy; Olenick, Doug
LG Group Inc has announced its pending acquisition of US television manufacturer Zenith Electronics. Zenith is developing a promising high-definition TV system but has been hampered by a cash shortage. The deal will allow continued development of the new system and allow Zenith to improve its worldwide distribution. LG will have better access to the US market for its Goldstar brand. The deal calls for LG to pay $350 million for 57.7% of Zenith's common stock.
NEW York--Retailers and analysts hailed last week's proposed acquisition of Zenith Electronics Corp. by South Korea's LG Group Inc., saying cash-starved Zenith will now have the funds to accelerate large-screen TV production and expand globally while providing LG with greater access to the U.S. market.
Zenith,...
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