Media rivals Time Warner and Rupert Murdoch's News Corp. have settled a long-running legal brawl in a deal that will give Murdoch's all-news TV channel access to the nation's marquee media market.
Time Warner confirmed today that its New York City cable system will carry Murdoch's 24-hour Fox News Channel.
As part of the deal, Murdoch over four years will gain access to 65 percent of the Time Warner systems across the country. Also, Time Warner over time may gain access to a network of international satellite television systems that Murdoch has in Latin America, China and other countries.
The satellite systems would give Timer Warner the ability to beam Home Box Office, Cinemax, TNT and CNN to places around the globe where they are now not available.
TWA cutting 1,000 workers
ST. LOUIS (AP) -- Trans World Airlines said replacing its aging fleet with new planes that need less maintenance means it can shed some workers.
The carrier said Tuesday it will cut about 1,000 jobs -- 4 percent of its work force -- by the end of the year as it tries to reduce costs in a long-standing battle to improve its bottom line.
TWA will trim about 250 maintenance jobs at its overhaul base in Kansas City, 200 jobs at its domestic line maintenance stations, 200 jobs from airport operations and 225 reservations jobs.
Sevenson loses patent suit
Sevenson Environmental Services Inc. has been ordered to pay $1 million to a California man who sued the Niagara Falls hazardous waste cleanup firm for infringing on a process he patented using lime to mitigate harmful substances.
The company may take a one-time charge of less than 10 cents per share against the second-quarter earnings it expects to report next week, William J. McDermott, Sevenson's vice president of finance, said Tuesday.
Sevenson also plans to appeal the verdict of the jury that considered the lawsuit in federal district court in Delaware.
The lawsuit filed by Frank Manchak against Sevenson stems from the company's use of lime to treat soil that had been contaminated by cadmium at the Marathon Battery Superfund site in Cold Spring, N.Y. from 1993-94.
Manchak alleged that Sevenson violated his patent when the company used a mixer to combine lime with contaminated soil from the Marathon Battery site. Manchak received a patent for his process in 1977 and has since sued several waste companies for patent infringement, McDermott said. The patent expired in 1994.
Clean diesel engine project launched
WASHINGTON (AP) -- Big Three automakers and federal research technicians today launched a joint venture to clean up diesel engines, a step toward replacing gasoline engines with a more fuel-efficient technology.
The $25 million diesel research is part of a $250 million federally funded project whose goal is to market an engine by 2004 that would both triple fuel efficiency and cut by 80 percent the nitrogen oxide emissions of current engines.
Vice President Gore announced the research in a White House ceremony.
Apple unveils new Mac system
CUPERTINO, Calif. (AP) -- Apple Computer Inc. on Tuesday formally introduced a new version of the Macintosh operating system, hoping to retain the loyalty of its customers as it tries to revive its fortunes.
The Mac OS goes on sale Saturday and will be included with Apple's new machines. It runs on Macintosh computers with the PowerPC microprocessor, introduced in 1994, and on some older machines.
It costs $99, but users can get a $30 rebate.
In other business news
The American Automobile Association is changing its name to AAA, saying the former name does not reflect the organization's added involvement in banking, insurance and travel.
MRC Bearing Services will close its office at 315 N. Main St. in Jamestown next spring, resulting in the loss of 32 jobs.
Yields on two-year Treasury notes fell in Tuesday's auction to the lowest level in five months. The high yield was 5.93 percent, down from 6.027 percent at the last auction on June 24. The notes will carry a coupon interest rate of 5 7/8 percent with each $10,000 in face value selling for $9,989.80.