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Article: International Speedway Completes Acquisition Of Watkins Glen International.
- Article from:
- Business Wire
- Article date:
- April 1, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DAYTONA BEACH, Fla.--(BUSINESS WIRE)--April 1, 1997--International Speedway Corporation (Nasdaq/NM: ISCA; Nasdaq Bulletin Board: ISCB) today announced that it has completed its previously announced acquisition of Watkins Glen International, Inc. (WGI) from Corning, Inc. (NYSE:GLW) for approximately $3.1 million. The transaction price represents the stock s book value at December 31, 1996. WGI owns and operates Watkins Glen International, a 3.4 mile road course in upstate New York that is home to "The Bud at the Glen," a NASCAR Winston Cup series race that ranked the ninth in television ratings on the 1996 Winston Cup circuit.
The transaction was originally ...
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