REGULATORSAntitrust Meeting on Satellite Radio MergerA congressional antitrust task force plans to examine the proposed merger of XM Satellite Radio, based in the District, and Sirius Satellite Radio on Wednesday. Witnesses are to include Sirius chief executive Mel Karmazin. The proposed merger, announced Monday, faces regulatory review by the Federal Communications Commission and the Justice Department. The task force is made up of members of the House Judiciary Committee. BIOTECHGenentech Loses Patent Ruling Genentech lost a ruling on its patent for technology used to make treatments for cancer and rheumatoid arthritis. Its competitors, which include Johnson & Johnson, Abbott Laboratories and ImClone Systems, pay royalties to use the technology. The Patent and Trademark Office rejected Genentech's Cabilly II patent based on a reexamination requested by MedImmune of Gaithersburg and another party. The decision heads to an appeals board within the agency and then to the U.S. Court of Appeals for the Federal Circuit in the District, which specializes in patent law. Separately, regulators told Genentech to stiffen a warning that the asthma drug Xolair may cause life-threatening allergic reactions.
EARNINGSRadio One Delays Report, May RestateRadio One of Lanham, the biggest radio broadcaster primarily focused on African American audiences, delayed its annual report and may restate earnings back to 1999 to account for misdated stock option grants. The changes for 1999 through 2003 would be material, the company said. The company does not expect to alter stock-based compensation costs for 2006 and said added costs for 2004 and 2005 would not be material. The restatement would not affect the company's previously reported revenue, cash flow or total stockholders' equity, the company said.
ENTERTAINMENTFalls Church Bowling Center ClosedBowl America has indefinitely closed its Falls Church bowling center after the roof was damaged significantly in last week's ice storm. The center had been slated to be torn down once a new bowling center is built nearby. Bowl America does not expect the roof damage to affect those plans. MANUFACTURINGSteelmaker Not Interested in Baltimore MillThyssenKrupp, a German steelmaker, said it has no interest in acquiring Arcelor Mittal's steel mill near Baltimore. On Tuesday, the Justice Department ordered Arcelor Mittal to sell the Sparrows Point mill to settle antitrust issues related to Mittal's $33.5 billion merger with Arcelor. The United Steelworkers threatened to try to block a sale of Sparrows Point unless the union is satisfied that the federally ordered divestment is in its workers' best interest. TECHNOLOGYAOL Adds Ads to Some E-MailsShort text advertisements promoting AOL products and services are being tacked on to certain e-mail messages sent from AOL accounts. The change, which began Tuesday, affects e-mails sent from AOL accounts using the Internet provider's AOL 9.0 software, which is available to AOL's 13 million paid subscribers and others.
E-mails sent through AOL's Webmail service, which is free on the Dulles company's Web site, have had ads attached for about eight months, said Anne Bentley a company spokeswoman.