| CP Rail to buy DM&E for at least $1.48 billion
NEW YORK (Reuters) - Canadian Pacific Railway Ltd said it planned to buy the Dakota, Minnesota & Eastern Railroad Corp for at least $1.48 billion to expand its network and increase its access to U.S. Midwest markets. Canada's No. 2 railway will expand by about 2,500 miles of track in acquiring DM&E, the largest U.S. regional railroad, CP Rail said late on Tuesday. Calgary, Alberta-based CP Rail, which expects the deal to close in the next 30 to 60 days, said the deal for the private company consisted of a $1.48 billion cash payment upon closing and future contingent payments of up to about $1 billion. "The DM&E is a high-quality, growing regional railroad that complements our existing franchise," CP Rail Chief Executive Fred Green said in a statement. "This investment presents the opportunity for future growth through further expansion of our network and is accretive to our EPS in 2008." The deal for Sioux Falls, South Dakota-based DM&E comes after CP Rail said in July it had rejected an "inquiry" by Brookfield Asset Management and denied it was in takeover talks.
Comedy Central Buys Rights to National Lampoon Films
Comedy Central and National Lampoon reached an agreement on first-broadcast-window premiere rights for three Lampoon Films. The deal gives the comedy channel exclusive broadcast rights for National Lampoon’s Bag Boy, National Lampoons Ratko: The Dictator’s Son and National Lampoon’s 301: The Legend of Awesomest Maximus Wallace Leonidas, a spoof of summer action flick 300. "Our audience matches up so well with the target demographic of the National Lampoon franchise, and this deal enables us to give our viewers something special, the first opportunity to see the films outside of their theatrical runs," said David Bernath, senior vice president of programming for Comedy Central. Bag Boy, released this fall,takes place in the highly competitive world of competitive grocery bagging, following the story of a young man trying to become the No.
New restaurant opens at former IHOP location
When IHOP on East Broadway closed its doors on Aug. 31, students may have feared they could no longer eat a towering pile of pancakes at 2 a.m. But Todd Beckenhauer and his family came to the rescue and recently opened another breakfast diner in IHOP's place at 355 E. Broadway.
Todd's Place, which opened on Sept. 2, will serve entrées similar to IHOP's, including steak, eggs, bacon, pancakes and other breakfast items. The restaurant will not, however, serve stuffed French toast, German crepes and other IHOP trademarks.
IHOP closed during the summer because its lease expired and corporate officials decided not to renew the lease, said IHOP spokesman Patrick Lenow. Company officials have no immediate plans to open another IHOP in Eugene, he said.
"We're always looking to expand and will look into the Eugene market in the future," Lenow said.
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