LEGALLockheed Settles Discrimination SuitLockheed Martin of Bethesda is to pay $131,000 to settle a lawsuit brought by the Equal Employment Opportunity Commission, which said the company illegally retaliated against a former employee who complained about discrimination. Lockheed made the employee's severance package conditional on her withdrawing a discrimination charge filed with the EEOC, the commission said. The company admitted no wrongdoing. The agreement provides $114,600 to one employee and $16,878 to another former employee, representing severance benefits the EEOC said were withheld because he also filed a complaint.
MERGERS & ACQUISITIONSPa. Court Reverses MCI-Verizon ApprovalA state appeals court reversed Pennsylvania's approval of a 2006 merger between Verizon Communications and MCI. The Commonwealth Court said the state Public Utility Commission did not study the anticompetitive effects of the merger and fell short of its legal duty to ensure that the merger would benefit customers. "We find that there was no evidence that the merger of Verizon and MCI in Pennsylvania would affirmatively promote the service, accommodation, convenience or safety of the public in some substantial way," Judge Dante R. Pellegrini wrote. The court sent the case back to the utility commission.
MEDIAMedia General Had Good JanuaryMedia General said its January revenue rose 4.7 percent, to $80.7 million, from January 2006. The increase was mostly the result of its purchase of three NBC-owned television stations last June. The Richmond company said revenue in its publishing division, fell 6.8 percent. PUBLISHINGBritish Exchange Rate Aids GannettGannett of McLean said pro forma operating revenue in January rose 1.7 percent from January 2006, as a stronger exchange rate for the British pound helped results for it British operations. If the exchange rate had remained constant, pro forma operating revenue would have been 0.3 percent higher.