McCaw Announces Financing Plan: McCaw Cellular Communications...

McCaw Announces Financing Plan: McCaw Cellular Communications revealed plans for financing its proposed $5.8-billion tender offer for Lin Broadcasting, the New York-based broadcasting and cellular concern. In papers filed with the Federal Communications Commission seeking approval for the transfer of control of Lin, Kirkland, Wash.-based McCaw said Morgan Guaranty Trust Co. of New York would be the lead bank for $2 billion in credit. It also said Morgan Stanley & Co. is prepared to raise at least $2.5 billion from private or public offerings. McCaw also filed with the FCC objections to Lin’s plans to spin off its seven television stations into a separate company.