New York Times Brings Back Dividend Payout After Five-year Break

850 snakes part of New York man’s home business, authorities say

Letters of intent have been executed, but the transaction still needs to be signed and approved by the NHL. The source said its conceivable the deal could fall through, but both sides want to make it happen. The sale price is $230 million, and Viola is buying out several of the teams minority owners. Last season, Forbes had placed the franchises value at $170 million. The Panthers are expected to remain in South Florida; the teams lease with the Broward County-owned BB&T Center runs through 2028. Sunrise Sports & Entertainment, which operates the arena, is the profitable arm of the Florida Panthers family of companies and is said to be part of the transaction. The team had no comment after the New York Post first reported a group of unidentified New York-based investors were buying the team. The Panthers have been losing more than $20 million per season in recent years, the source said. A source close to the team confirmed the sale was in the works and said general manager Dale Tallon has been telling players interested in coming to the Panthers such as former All-Star goalie Tim Thomas that a new owner would be in place soon. An announcement could be coming in the next few weeks. Captain Ed Jovanovski, who said he heard reports of a new owner on a weekly basis while with the Phoenix Coyotes, said word of a new owner shouldnt affect the team at all. For the most part, you have a bunch of guys who just want to play hockey, Jovanovski said. Whatever happens on the ownership side will be taken care of by the executives in place.

Richard Parrinello, of Brookhaven, New York, kept the snakes in his detached garage, all neatly stacked in containers and at the right temperature, according to Roy Gross, chief of the Suffolk County SPCA. Burmese pythons are illegal in New York, and Parrinello’s were taken from the house to a reptile sanctuary in Massachusetts while the rest of the snakes are still in his garage, according to Jack Krieger, communications director for the Town of Brookhaven on Long Island. Gross said all the snakes appeared to be in good health and there was no animal abuse or neglect. “It was a well-maintained facility, it was very clean and organized, it was a business,” Krieger said. By the numbers: Pets Parrinello kept an online website, “Snakeman’s Exotics,” which advertised a collection of pythons, boa constrictors and hognose snakes available for sale both domestically and internationally. After weeks of investigation into alleged workers compensation fraud, the town of Brookhaven, the U.S. Fish and Wildlife Service, the New York State Department of Environmental Conservation, Suffolk County Police and the SPCA executed a search warrant in Parrinello’s home, where he lives with his wife and 10-year-old son, according to a news release from Brookhaven. Undercover investigators spoke to Parrinello, who claimed to have $500,000 in inventory stored on the premises, including snakes, turtles and turtle eggs, the news release said. Authorities also say they found a few tarantulas and a couple of freezers with frozen mice and alligator carcasses. Krieger said Parrinello wasn’t arrested or charged with any criminal activity, but he was running a business out of his residence in a residential area, which is a violation of the town code. Town Law Department officials are still investigating and will likely issue numerous violations in the coming days. When reached by telephone, Parrinello declined to comment. “What makes this case especially egregious is that this individual was allegedly operating this reptile business out of his home, posing an unknown threat to the neighbors of this community,” said Brookhaven Supervisor Ed Romaine. Peter Constantakes, spokesman for the DEC, said Parrinello was interviewed and issued two summonses for possessing wild animals without a permit and for possessing alligator parts without a permit, each one carrying a maximum fine of $250. The U.S.

The company had cash and short-term investments of $747 million at the end of last quarter, with debt of $694 million. The Ochs-Sulzberger family, which controls Times Co. through its Class B shares, has pressured the company to resume dividends that used to supply it with as much as $20 million annually. If the dividend remains at 4 cents a share, the familys 13 percent stake in the company would give it $774,163 each quarter, or $3.1 million annually from the dividends. Times Co. stopped paying its dividend five years ago as it coped with a decline in revenue from print advertising as readers turned to the Internet. The company has boosted circulation sales by asking online readers to pay for access to its news articles. The strength of our balance sheet justified the restoration of a dividend, Chief Executive Officer Mark Thompson said in the statement. Given the expectation of continued volatility in advertising revenue and the fact that our growth strategy is at an early stage of development, we will maintain a prudent view of both the balance sheet and free cash flow . The dividend will be paid to shareholders of record as of Oct. 9, the company said. Times Co. gained less than 1 percent to $11.54 yesterday in New York before the dividend was announced. To contact the reporter on this story: Edmund Lee in New York at elee310@bloomberg.net To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net New York Times Brings Back Dividend Following Five-Year Hiatus Scott Eells/Bloomberg Times Co. has boosted circulation sales by asking online readers to pay for access to its news articles. Times Co.