[News Script: Tandy and Leonard standup] Part: 3 of 4
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LAY-OVER FILM
MAN ONCXMERA:
MAN ON CAMERA:The exact purchase price wasn't disclosed, but the
two said the transaction involved more than (M)
67-million dollars in cash, plus about 30,000 shares
of Tandy stock. The transaction also involved pur-
chose of a majority of the stock of six Mitchell's
Department Stores, in which Leonards has held a
majority interest.
The deal includes the name, stock and fixtures of
the Leonard retail operation, including the subway.
But, the land and buildings remain in the ownership
of the Leonard organization and will be leased by
Tandy.
Leonard will continue as president of the depart-
ment store and there'll be no changes in management,
personnel or policies. The names of all stores will
remain the same.
mandy indicated that Leonards '.ill be expanded into
the suburbs, and le hinted that Tlndy =ay open similar
department stores in other cities elsewhere in the
nation.
The combined sales of the two giant firms totaled
over (M) 100-million dollars this year. Today's
merger capped weeks of rumors. when the reports first
began to circulate, Tandy Stock, traded on the New
York Stock exchangege, a.s selling at X32 a share.
Today, it started at almost X10 higher.
Russ Bloxom reporting.--30--
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WBAP-TV (Television station : Fort Worth, Tex.). [News Script: Tandy and Leonard standup], item, October 17, 1967; (https://digital.library.unt.edu/ark:/67531/metadc989723/m1/3/: accessed April 24, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Special Collections.