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Zenith May Be At Its Nadir


In Business This Week

ZENITH MAY BE AT ITS NADIR

THE PICTURE IS DARKENING AT ZENITH ELECTRONICS. On Apr. 1, it reported its ninth straight annual loss, $299 million, and warned of possible bankruptcy without a major cash infusion or new partner. The stock fell 31%. Some $45 million in secured credit through June 30 was extended by controlling shareholder LG Electronics of Korea. But Zenith needs at least $225 million to get through the year. New CEO Jeffrey Gannon, who came from General Electric in January, plans more cost-cutting soon, but it's unclear how long LG will hang on.EDITED BY KELLEY HOLLAND


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