Southwest to Add Gates
Southwest Airlines plans to increase to 12 from six the number of gates it leases at Philadelphia International Airport next year, meaning it could double the 53 flights a day it has now, airline and airport officials said. Even with more than 100 flights a day, Dallas-based Southwest would remain behind US Airways in Philadelphia departures. By early January, Southwest plans to take over leases on two gates used by United Airlines, and by spring, it will get four Delta gates, said Steve Sisneros, Southwest's manager of properties.
Warner Testing File-Sharing
Time Warner's Warner Bros. unit plans to test paid distribution of movies or television programs via Internet file-sharing networks, Simon Kenny, head of Warner Bros. International Television in Europe, said at a technology conference in Montpellier, France.
Kenny said Warner Bros. is working with an operator of a peer-to-peer network, on which users swap video and music files over the Internet. The network operator, which Kenny declined to identify, would handle billing, though the companies are still studying how to charge users, he said. Entertainment firms such as Walt Disney, Viacom and News Corp.'s Fox say free downloading of unauthorized copies of TV shows and movies before they are released on DVD will cost them $5 billion in revenue this year.
MERGERS & ACQUISITIONS
Man Group to Sell Refco Unit
Man Group, the hedge fund manager that is buying Refco's main futures business, will sell the bankrupt broker's European operations to Marathon Asset Management because they overlap with its own business.
New York-based Marathon, which oversees $11 billion of assets, is buying foreign-exchange, futures and other brokerage businesses from Man Group's Man Financial, including about 2,000 customer accounts, Marathon and Refco said in a joint statement. The units employ 300 people. Terms were not disclosed.
Deutsche Post Purchase Approved
Deutsche Post, Europe's biggest postal service, secured European Union antitrust approval to buy the British company Exel for $6.3 billion. "Deutsche Post will still face strong competition from other companies," the European Commission said.
Deutsche Post agreed Sept. 19 to buy Exel, which provides industrial and distribution services, to become the world's largest manager of warehouses and inventories.
Coke Distributors, Bottlers Fined
Coca-Cola and 14 of its distributors and bottlers in Mexico were fined $15 million for anti-competitive practices in the soft-drink market.
The companies fined were Yoli de Acapulco, Coca-Cola Femsa, Propimex, Inmuebles del Golfo, Panamco Mexico, Panamco Bajio, Panamco Golfo, Grupo Continental, Embotelladora La Favorita, Embotelladora Zapopan, Industria Refresquera Peninsular, La Victoria, Refrescos Victoria del Centro, Embotelladora de San Juan and Coca Cola Export.
Compiled from staff and news service reports.