In other items: Citel Technologies buys MCK Communications to help extend distribution channel; Icos deal will promote testosterone gel; news groups want media rules restored; and Eastman Kodak buys Creo for $980 million.
Kerry Killinger, chairman and chief executive of Washington Mutual, exercised 168,855 stock options last week at $8.97 a share. He disposed of an additional 37,097 options at $40.84 each to cover the option exercise price, according to a filing with the Securities and Exchange Commission.
Killinger’s action brought him about $5.4 million in stock, if he exercised the initial set of options at $40.84 each, which was WaMu’s closing price last Tuesday. After the transaction, he directly owned 921,958 WaMu shares and indirectly owned 104,000 shares.
Seattle-based Citel Technologies said yesterday it purchased MCK Communications from Atlanta-based Verso Technologies.
MCK to help extend distribution channel
Citel helps companies make the transition from a traditional phone system to an Internet protocol-based system. MCK Communications of Needham, Mass., will help Citel extend its distribution channel with its product line that uses a slightly different approach.
Citel said it acquired MCK with a $3.5 million secured, interest-bearing note and some cash. In total, the company will have about 60 employees.
Icos has signed an agreement for its 165-member sales force, which promotes the erectile dysfunction drug Cialis, to market a testosterone gel for men with low levels of the male hormone.
Deal will promote testosterone gel
The Bothell company said the deal to co-promote AndroGel, a product of Solvay Pharmaceuticals, will run through 2006 with a renewal option.
The Newspaper Association of America yesterday joined Tribune Co. and CBS, Fox and NBC in asking the Supreme Court to restore the government’s media-ownership rules, which have been thrown out by a lower court.
News groups want media rules restored
The groups contend the Federal Communications Commission (FCC) rules easing ownership restrictions are necessary because the old regulations hamper companies’ ability to grow and compete in a market that now includes cable television, satellite broadcasting and the Internet. The changes would have allowed a single company to own TV stations and a newspaper in the same area, and to own more TV and radio stations in a single market.
Last week, the Justice Department, in consultation with the FCC, decided not to file its own appeal. The Bush administration did not explain its decision.
Eastman Kodak, wrapping up a $3 billion shopping spree aimed at transforming the world’s biggest film manufacturer into a digital heavyweight, is buying Vancouver, B.C.-based Creo for $980 million.
Creo purchased for $980 million
Creo’s software manages the movement of text, graphics and images from the computer screen to the printing press.
Compiled from Seattle Times business staff and The Associated Press