BUSINESS BRIEFS
Bids reported for radio stations
Advertiser Staff
Clear Channel Communications Inc., the owner of KSSK and five other Hawai'i radio stations, is expected to attract at least two takeover offers as a deadline for submitting bids nears.
The company is the largest U.S. radio broadcaster. Its holdings in Hawai'i include the AM and FM stations of KSSK, KHVH-AM, KIKI-FM, KHBZ-AM, KDDN-FM and KUCD-FM.
Bloomberg News reported that people familiar with the offers said Blackstone Group LP, Kohlberg Kravis Roberts & Co. and Providence Equity Partners made up one group that planned to make a bid. The other group included Bain Capital LLC, Texas Pacific Group and Thomas H. Lee Partners LP. Clear Channel's board of directors put the company up for sale last month and set a Nov. 13 deadline for bidding.
CRUISE PRICES LIKELY TO DROP
NCL Corp. said it expects to see continued downward pricing pressure for its Hawai'i interisland voyages through the first three months of next year, in part because it has increased its fleet to three cruise liners in the state.
"Our rapid expansion in interisland Hawai'i cruises and increased fuel costs continue to impact our results," said NCL President and Chief Executive Officer Colin Veitch, in a press statement announcing the company's results for the three months ended Sept. 30.
NCL reported third-quarter net income rose about 19 percent to $49 million, compared with a year earlier. Revenue rose by about 20 percent to $592.3 million.
TAX DEPARTMENT ADDS CALL HOURS
The Hawai'i Department of Taxation's call center hours have been expanded temporarily to help with questions about the new 0.5 percent tax surcharge for the City and County of Honolulu.
The state said notices of the added tax are being mailed to all businesses this month. The call center will be open from 7 a.m. to 5 p.m. Mondays through Fridays. It also will be open on Saturdays through Dec. 2, from 8 a.m. to 4:30 p.m.
The surcharge is being added to the state's general excise tax and was enacted to help pay for a proposed mass-transit system on O'ahu.
The call center is at 587-4242 or toll free at (800) 222-3229.
