(Reuters) – Gannett Co Inc, the largest U.S. newspaper chain, said it will pay $1.5 billion for television company Belo Corp, adding a stable of faster-growing TV assets that will offset the company’s newspaper businesses.
The deal would nearly double Gannett’s broadcasting holdings, making it the fourth-largest U.S. owner of major network affiliates, reaching nearly one-third of U.S. households, the company said on Thursday.
WASHINGTON/BOSTON (Reuters) – The U.S. government may have to reconsider how much it relies on outside defense contractors who are given top security clearances after an NSA contractor exposed top-secret phone and internet surveillance programs.
Edward Snowden, a 29-year-old systems technician at Booz Allen Hamilton Holding Corp, admitted on Sunday that he divulged details of the National Security Agency’s programs to The Guardian and Washington Post.
(Reuters) – A Chinese group’s purchase of ILFC, one of the world’s largest airplane leasing businesses, could collapse after insurer American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) said on Friday it did not receive a scheduled deposit payment.
Under terms of the purchase agreement, the missed payment gives AIG (AIG.N: Quote, Profile, Research, Stock Buzz) the right to cancel the sale, though such a decision was not expected to be imminent. AIG declined to comment, while a spokesman for the consortium was not immediately available to comment.
(Reuters) – New York’s top financial regulator has asked some of the largest U.S. insurance companies to disclose details on their preparedness for cyber attacks, following a similar request to major banks earlier this year.
The New York State Department of Financial Services said it sent letters on Tuesday asking insurers whether they have faced any cyber attacks in the last three years, what safeguards they have put in place and how much money they have set aside for dealing with cyber issues.
May 21 (Reuters) – Moore, Oklahoma, has had the bad luck of
being hit by two highly destructive tornadoes, both in the month
of May, 14 years apart.
But the Moore that got struck on Monday is not the same as
in 1999. Like a lot of towns across America and in the so-called
“Tornado Alley,” rapid growth has made it a bigger target,
vulnerable to more damage.
(Reuters) – Shares in Barnes & Noble Inc rose 18 percent on Thursday after a report that Microsoft Corp is considering an offer to acquire the tablet and e-book business of B&N’s Nook Media unit.
The technology website TechCrunch reported that Microsoft, which already owns a 17 percent stake in Nook Media, was proposing a $1 billion offer to buy all of Nook’s digital assets. A source familiar with the document cited by TechCrunch confirmed its authenticity.
(Reuters) – Sprint Nextel Corp on Monday said its merger partner, SoftBank Corp, has waived some terms of their agreement so that Sprint can seek more information from rival suitor Dish Network Corp.
The exchange of information between Sprint and Dish indicates the companies are in conversations about the satellite broadcaster’s $25.5 billion takeover bid, even if Sprint for now is standing by its $20.1 billion pact with SoftBank.
NEW YORK (Reuters) – U.S. companies have easily beaten expectations for first-quarter earnings so far in the reporting season, but nearly half of the members of the S&P 500 are yet to announce results and they are unlikely to be as robust.
With results in from 271 of the S&P 500 companies, year-over-year earnings growth is projected at 3.9 percent, compared with a forecast for 1.5 percent growth at the start of the earnings season, Thomson Reuters data shows. That figure includes those that have reported and analyst estimates for those who have not.
NEW YORK, April 28 (Reuters) – U.S. companies have easily
beaten expectations for first-quarter earnings so far in the
reporting season, but nearly half of the members of the S&P 500
are yet to announce results and they are unlikely to be as
With results in from 271 of the S&P 500 companies,
year-over-year earnings growth is projected at 3.9 percent,
compared with a forecast for 1.5 percent growth at the start of
the earnings season, Thomson Reuters data shows. That figure
includes those that have reported and analyst estimates for
those who have not.
SAN FRANCISCO/NEW YORK (Reuters) – Amazon.com Inc’s stock sank 6 percent on Friday as a poor financial outlook revived concerns about whether the company can sustain its torrid pace of expansion while profitability improves.
The world’s largest Internet retailer on Thursday reported its highest gross profit margins in a decade as years of spending on high-margin businesses, from digital media to cloud services, began to pay off. But slower revenue growth and a disappointing outlook for this quarter exacerbated uncertainty about the its business beyond the United States.