July 17, 1996

In a last minute turnaround, New World Communications Group Inc. apparently broke off its pending acquisition of King World Productions Inc. yesterday, the day it was set to be approved, and is in negotiations to be acquired by the News Corporation in a deal estimated at $2.5 billion, according to several people with knowledge of the discussions. Executives at New World, News Corporation and King World were unavailable for comment late yesterday.

A Bid to Halt Global Warming

Wall Street's Big Tumble Echoes Around the Globe As Wall Street rode a record-breaking roller coaster, stock exchanges across the globe took their cues from Monday's bloodbath. Though the declines were less severe than in the United States, the global selloff was a panicky reaction to the carnage. [Pages A1 and D7.]

For at least a year, Morris County prosecutors said, Henry B. Rabin, a pharmacist at a Shop-Rite in Chatham Township, sneaked pills out of the store and sold them on the street. Yesterday, prosecutors said the police had arrested Mr. Rabin, 53, of Florham Park, and five others and had seized more than 32,000 tablets worth $549,000. Some of the drugs were distributed at William Paterson College in Wayne, said Capt. Christopher Linne, a spokesman for the prosecutor's office.

A 15-year-old boy was killed and four people were wounded, two of them critically, late Monday when two men armed with a shotgun and a handgun opened fire on the group in a residential neighborhood, the Paterson police said yesterday. The gunmen fired several shots, and fled on foot, Lieut. Al Clark said. The dead youth was identified as Tyeen Price of Paterson. The police said they did not know what prompted the shooting.