Gannett's earnings meet expectations
NEW YORK -- Newspaper publisher Gannett Co. Inc., whose flagship newspaper is USA Today, today reported third-quarter earnings that were in line with analysts' expectations.
The company, which also owns the Honolulu Advertiser, said earnings per share for the quarter rose to 79 cents a share from 70 cents in the year-ago period. Revenues rose to $1.599 billion from $1.29 billion a year before.
In other news . . .
BRUSSELS, Belgium -- The European Union's executive body today conditionally approved America Online Inc.'s $129 billion acquisition of Time Warner Inc., removing a major obstacle in the proposed combination between the world's largest Internet and media companies. Under terms of the approval, AOL and Time Warner agreed that they will not muscle out rivals from the emerging media and entertainment markets. Despite the tentative clearance, however, the AOL-Time Warner deal still faces several obstacles before it receives U.S. approval.
WASHINGTON -- A federal appellate court set oral arguments in the Microsoft antitrust case for Feb. 26-27, splitting the difference between what the government and the company proposed. The tech giant is appealing a District Court ruling that would split it into two separate firms.
