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The sale of venerable film studio Metro-Goldwyn-Mayer to a consortium led by Sony Corp. of America was completed Friday, marking the end of MGM as an independent player in the entertainment industry. The Sony-led group paid $12 a share for MGM, or about $2.94 billion cash, and assumed about $1.9 billion in MGM debt.

Willis North America, the nation's third-largest insurance broker, agreed Friday to pay $51 million in restitution to settle an investigation by New York Attorney General Eliot Spitzer into anticompetitive practices involving incentive fees in property and casualty insurance sales.