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J.C. Penney Seeks to Raise $1 Billion

J.C. Penney has hired bankers at Blackstone for advice on shoring up its fast-eroding cash. The company is seeking to raise about $1 billion. Bond analysts don't think Penney's operations will be able to generate enough cash to cover the company's needs beyond a year, putting pressure on new Chief Executive Myron "Mike" Ullman to cut costs and look for ways to raise new capital even as he tries to get more shoppers into stores.

 

NBCUniversal agrees to buy Blackstone’s stake in Universal Orlando for $1.03 billion

Private equity firm Blackstone Group LP has agreed to sell its 50 percent stake in Universal Orlando to Comcast-controlled NBCUniversal for $1.03 billion.

 

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