Reported by Star-Bulletin staff & wire
Wednesday, January 13, 1999
MediaNews to buy 10 Donrey papers
DENVER -- MediaNews Group Inc. will take control of 10 Donrey Media Group daily newspapers in California.William Dean Singleton's MediaNews yesterday said its Garden State Newspapers subsidiary will merge 10 of its California newspapers with the Donrey newspapers.
Donrey will retain ownership of its Hawaii daily newspapers -- the Hawaii Tribune-Herald and West Hawaii Today.
The deal expands MediaNews' presence in Northern California and in the greater Los Angeles market, where it already owns the Daily News of Los Angeles, Press-Telegram of Long Beach and three papers in the San Gabriel Valley east of downtown Los Angeles. The Daily News and Press-Telegram are not included in the merger. MediaNews, based in Denver, also owns The Denver Post and 37 other daily newspapers in 13 states.
Delta adds charge to most bookings
ATLANTA -- Saying it must offset rising costs for traditional booking methods, Delta Air Lines has added a $2 surcharge to domestic round-trip bookings, except those made at its Internet site.The move was criticized yesterday by the American Society of Travel Agents, which accused Atlanta-based Delta of "blaming and punishing the traveling public for purchasing their tickets through (non-Internet) channels they clearly prefer.
Delta apparently is the first carrier to impose the surcharge. Delta didn't make a public announcement, but informed travel agents in a message posted Monday over the computer reservations system.
Intel's earnings beat expectations
NEW YORK -- Strong demand for Intel Corp.'s pricier computer chips helped push up fourth-quarter profits 18 percent, easily beating Wall Street expectations.However, the world's largest maker of computer chips yesterday cautioned that revenue in the current quarter should drop from fourth-quarter levels due to a seasonal slump in sales of personal computers that typically follows the holiday buying season.
Intel earned $2.06 billion, or $1.19 a share on a diluted basis, in the three months ended Dec. 26, 1998.
That was up from a profit of $1.74 billion, or 98 cents a diluted share, in the year-ago period.
Revenue rose 17 percent to a record $7.61 billion from $6.51 billion.
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