In a complicated series of transactions, Affiliated Publications Inc, Boston, which holds 45% of McCaw Cellular Communications Inc, Kirkland, Washington, is to spin off the Boston Globe and Billboard magazine into a new Globe/Billboard Holding Co, distribute shares in this to its shareholders and then merge with McCaw, giving its holders about 0.84 of a McCaw share for each Affiliated they hold; the surviving newspaper company will then change its name back to Affiliated.
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