OTHER NEWS - Jan. 21, 1993

Scott Sports Buys Bankrupt Schwinn: Schwinn Bicycle Co., the nation’s first name in bicycles that toppled into bankruptcy, has been bought by Scott Sports Group, a maker of sports gear. Scott Sports, a unit of the Zell-Chilmark Fund, paid $40.75 million for Schwinn and named Ralph Murray president and chief operating officer of the firm. Zell-Chilmark received bankruptcy court approval to buy substantially all the assets of Schwinn. Zell-Chilmark said Schwinn will remain in Chicago and will not be merged with Scott Sports.