Staples Moves to Protect Deal
an effort to gain Federal Trade Commission approval of the pending merger of Staples here and Delray Beach, Fla.-based Office Depot, both companies agreed to sell 63 stores to competitor OfficeMax, Shaker Heights, Ohio.
The FTC voiced concern about competitive pricing in markets where the combined Staples and Office Depot would not face competition. The FTC has said the Staples-Office Depot deal would let the combined company raise prices, and was prepared to block the merger.
Phone Card Rings in Sweepstakes
ROCHESTER, N.Y. -- Frontier Communications here has teamed up with Delco Remy America, Anderson, Ind., a manufacturer of auto equipment, and the National Corvette Museum, Bowling Green, Ky., to launch Cruisin' America, a prepaid phone-card sweepstakes, at retail.
The prepaid phone card, which sells for $5.99 for 15 minutes of phone time, is also a scratch-match-win sweepstakes card that offers instant-win cash prizes from $5 to $250,000. In addition to cash prizes, fully restored, collector Corvettes will be awarded to 12 players who match the proper Corvette symbols.
Super and grand prizes will be awarded at the National Corvette Museum. Winners from each of the collector card series issued during the sweepstakes will be furnished a free trip to the museum for the grand prize drawing of 11 $25,000 cash prizes and one super grand prize of a new 1998 C-5 Corvette, plus $1 million. The sweepstakes will run through 1998.
Disney's 'Hercules' in the Cards
MOUNT LAUREL, N.J. -- Tied to the June theatrical release of Disney's "Hercules," Fleer/SkyBox here will produce a trading card series based on the animated myth adventure.
There will be 70 regular cards, including 27 story cards and five additional story card subsets designed to build on the storyline of the film. The trading cards will be available May 28 and will sell for a suggested $1.49 for a nine-card pack.