P.M. BRIEFING : Harcourt to Pay Off Entire Debt
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ORLANDO, Fla. — Harcourt Brace Jovanovich Inc. said today that it will pay its entire long-term bank debt with proceeds from the $1.1-billion sale of its six theme parks to Anheuser-Busch Companies Inc.
The company said the sale of the six properties, including four Sea World parks in Florida, Texas, Ohio and California, and related land holdings was completed today. The sale was first announced Sept. 28.
In addition to the Sea World parks, Harcourt sold its Cypress Gardens and Boardwalk and Baseball attractions in central Florida.
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