AMERICAN MORTGAGES JETS: AMR Corp., the parent of American Airlines, plans to raise $254.9-million by selling notes secured by seven airplanes as collateral, the company said in a regulatory filing. The cash will add to AMR's cushion as it tries to return to profitability. Lenders have demanded that AMR, based in Fort Worth, Texas, maintain $1-billion in unrestricted cash to comply with guidelines of its loan agreements. As of last month, AMR had $1.45-billion in unrestricted cash.
DELL INSIDERS DEAL: Nine Dell Computer Corp. insiders have sold company stock during the past six weeks _ an unusual level of activity in insider selling. Wednesday, Dell board member Michael Miles joined the list, reporting that he had sold 300,000 shares Tuesday for a pre-tax profit of $9.2-million. A Dell spokesman declined to speculate on the cause of the activity.
LIBERTY GETS ALL OF QVC: Liberty Media Corp. has agreed to buy Comcast's majority stake in the lucrative shopping channel QVC for $7.9-billion, the companies said Thursday. Liberty, which already owns 42 percent of the electronic shopping service that reaches more than 85-million U.S. homes, told Comcast in March that it wanted to end the joint ownership and negotiate a sale to one party or the other. QVC had revenues of $4.38-billion last year, accounting for more than a third of Comcast's overall $12.46-billion in revenue for the year.
SEEKING HISPANIC MARKET: The Boca Raton publisher of the National Enquirer and other tabloids has launched a division to create magazines and books for the growing Hispanic American market. AMI's new department, AMI Latino Magazine Group, arrives as the Florida publisher is making headway to launch Shape en espanol in October. The company also just acquired the Spanish-language license to its Men's Fitness title from the Ideas Publishing Group of Miami. AMI also signed a deal this month with Miami's Latin World Entertainment, which represents many Hispanic American and Latin American stars. The two will jointly produce paperbacks, hardcover books and magazines using the talent agency's cadre of celebrities.