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Federal News Sues Times Publishing
Federal News Service, a District firm that transcribes White House news conferences and congressional hearings, sued Times Publishing for allegedly using "corporate espionage" to try to drive it out of business.
A lawsuit filed in federal court in Washington alleges that employees of Times Publishing -- the Florida-based owner of the St. Petersburg Times, Congressional Quarterly and other publications -- illegally accessed FNS computers and online databases and stole transcripts that were then sold to CQ transcription-service customers.
A Times Publishing spokesman said the company believes the allegations are baseless.
-- Bloomberg News
RETAIL
Circuit City Sells Canadian Stores
Circuit City, the Richmond-based electronics retailer that has closed all of its U.S. stores, has sold its Canadian stores to telecommunications company Bell Canada.
The entity that Bell Canada acquired, InterTan Canada, controls 750 Source electronics stores. Bell Canada bought it for $116.8 million, plus $30.3 million for working capital, according to documents filed with the U.S. Securities and Exchange Commission.
Bell Canada said that it will use the stores to offer a range of consumer products, such as Bell Mobility and Virgin Mobile cellphones as well as television, Internet and phone products and services.
-- Associated Press
REAL ESTATE
