Business Services Industry
Dayton Hudson to Buy Mail-Order Firm from Minnesota Public Radio.
Knight Ridder/Tribune Business News, March, 1998
By Jim McCartney, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Mar. 24--Minnesota Public Radio may have come up short of its spring pledge-drive goal earlier this month, but it just struck a deal that promises to pump up its endowment fund beyond its wildest dreams.
Dayton Hudson Corp. said Monday it has agreed to pay $120 million for Rivertown Trading, the for-profit mail-order firm owned by MPR's parent company.
For Minnesota Public Radio, the deal means a $90 million windfall for its $19 million endowment fund, putting it in the same league as major non-profit organizations in the region, such as the Minneapolis Institute of Arts and Walker Art Center.
It's also a boon for about 20 Rivertown...
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