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KBNW Business Briefs for 03/07/14

BEND, OR -- Greg Van Pelt has joined the St. Charles Health System Board of Directors.  Van Pelt currently serves as president of the Oregon Health Leadership Council.  He also served in senior leadership for Providence Health and Service for 38 years including most recently as CEO of the Oregon region.


Safeway, the second-largest U.S. grocery-store chain, agreed to be bought by Cerberus Capital Management LP’s Albertsons.  Bloomberg News reports the deal, announced Thursday, is valued at about $9.2 billion.  Safeway investors will receive about $40 a share, consisting of $32.50 a share in cash, plus other considerations and stock.  The Albertsons-Safeway tie-up would create a company with more than 2,400 stores, 27 distribution facilities and 20 manufacturing plants.  Companies officials say no store closings are expected.


Atlanta-based Heartland Media LLC and MSouth Equity Partners announced Wednesday they are buying ABC affiliates in Eugene (KEZI), Medford (KDRV) and Klamath Falls (KDKF) from Chambers Communications Corp. for $30 million.  Officials with the Georgia partnership say no changes are planned for the stations.


Costco profits fell 15% the latest quarter while sales increase 6%.  Company officials say discounted prices during the Christmas shopping season hurt profit margins.


Adidas AG forecast 2014 profit as much as 17 % below analysts’ estimates as the weakness of currencies such as the Russian ruble and Argentine peso weighs on the world’s second-biggest sporting-goods maker.  Profit will be between 830 million euros ($1.14 billion) and 930 million euros this year.

If you see local news happen, call the Horizon Broadcasting Group News Tip Hotline at 541-323-NEWS, or email us.

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