Newspapers Plan More Cuts As Their Ad Revenues Fall
Date: 18 May 2001
By Felicity Barringer
Felicity Barringer
Newspapers owned by companies like Gannett Co and Knight Ridder are intensifying their effort to cut costs with advertising revenue showing no signs of rebounding; USA Today, Gannett's flagship newspaper, has announced layoffs of journalists for first time since it was founded in 1982; it has laid off 6 journalists out of newsroom of 435, plus 7 employees of usatoday.com; Miami Herald Publishing Co, owned by Knight Ridder, has announced more extensive cutbacks, but hopes to achieve staff reductions through voluntary buyouts; it is trimming 10 percent of its staff, or about 180 jobs; cutbacks are also being discussed at several other Knight Ridder newspapers, including San Jose Mercury News, St Paul Pioneer Press, Kansas City Star and Akron Beach-Journal; New York Times reports advertising revenue in April was down 16 percent from year earlier; newspaper advertising revenue in Times Co as whole decreased 15.4 percent for April 2001, compared with period year earlier (M)
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World Briefing | Europe: Ukraine: Not So Fast, Judge Says
Date: 18 May 2001
By Michael Wines (NYT)
Michael NYT
Investigating judge in killing of journalist Georgy Gongadze in Ukraine says it is still too soon to say that murder has been solved (S)
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AMTRAN SHARES RISE 57% ON NEWS OF CHAIRMAN'S OFFER
Date: 18 May 2001
By Bloomberg News
Bloomberg News
Amtran Inc, parent of American Trans Air, says its chairman and majority shareholder, J George Mikelsons, offered $21 per share to buy rest of company and take it private; offer values company at $239 million; stock rises $7.15, to $19.75 (S)
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TYCO INTERNATIONAL IN $1 BILLION PURCHASE
Date: 18 May 2001
By Bloomberg News
Bloomberg News
Tyco International acquires electronic-security assets of Cambridge Protection Industries for $1 billion (S)
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AOL TIME WARNER AGREES TO ACQUIRE INFOINTERACTIVE
Date: 19 May 2001
By Bloomberg News
Bloomberg News
AOL Time Warner agrees to buy InfoInterActive Inc of Canada for $28.2 million to gain software that alerts people that they have phone call while they are on Internet (S)
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BID MADE FOR ALL OF ARGENTINE CIGARETTE MAKER
Date: 19 May 2001
By Bloomberg News
Bloomberg News
Philip Morris Companies offers to pay $34.7 million for outstanding shares it does not already own of Argentine cigarette maker Massalin Particulares; shares will be bought from Reemtsma Cigarrettenfabriken, German firm (S)
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SAKS NAMES PRESIDENT FOR ITS PARISIAN STORES DIVISION
Date: 18 May 2001
By Bloomberg News
Bloomberg News
Saks Inc names Rob Gruen president and chief executive of its Parisian stores division, replacing Travis Saucer, who resigned (S)
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AUTODESK STOCK FALLS 11% AFTER WARNING ON PROFIT
Date: 19 May 2001
By Bloomberg News
Bloomberg News
Autodesk Inc, maker of design software for architects, says second-quarter earnings will not meet analysts' forecasts; its shares fall 11 percent, to $33.60 (S)
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SHARES OF PALM DROP AS SALES OF HAND-HELD DEVICES FALL
Date: 19 May 2001
By Bloomberg News
Bloomberg News
Shares of Palm Inc fall after it says sales will be about half its already-reduced forecasts; shares drop $2, to $5.05 (S)
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