OTHER NEWS - Feb. 17, 1992
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Guardian Among Bidders for Maxwell Properties: The Guardian newspaper in Britain said it is part of a consortium putting together a bid for the late Robert Maxwell’s Mirror Group Newspapers. The Guardian and Manchester Evening News group, led by merchant bank Hambros, is competing against other media players, including Conrad Black’s Telegraph group and a management buyout team headed by Sir Peter Parker. Robert Maxwell’s empire collapsed after his death last November amid allegations that he diverted more than $1.2 billion to support the share price of Maxwell Communication Corp., service debts and cover operating losses.
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