Briefs: Support grows for downstate plant
MADISON, Wis. -- Illinois' quest to beat out Texas for a coveted next-generation power plant is getting support from another neighbor. Wisconsin's governor, Jim Doyle, has sent his Illinois counterpart a letter backing Illinois' bid for a cutting-edge, coal-powered plant known as FutureGen. Developers are to announce next month whether the $1.75 billion project will go to downstate Mattoon or Tuscola, or to either of two Texas sites. Developers say the plant will minimize air pollution by storing emissions underground. Pennsylvania, Indiana and Kentucky already are backing Illinois' bid.
FCC chairman backs rule change
WASHINGTON -- Kevin Martin, chairman of the Federal Communications Commission, said Tuesday he supports lifting a ban on cross-ownership of media, but only in the nation's largest media markets. Chicago-based Tribune Co., which owns the Los Angeles Times, the Chicago Tribune and 23 television stations, currently is the subject of an $8.2 billion buyout that would take the company private. Martin's proposal would provide relief in four of the five markets where Tribune owns broadcast stations and newspapers. But the company wants temporary waivers, saying a Dec. 18 vote by the full commission is too late and may jeopardize financing for the deal.
Shareholders OK XM, Sirius merger
Shareholders approved a deal Tuesday to allow Sirius Satellite Radio Inc. to acquire its rival XM Satellite Radio Holdings Inc. for about $5 billion. Shareholders had been widely expected to approve the deal, which would allow the companies to save costs on programming. More difficult will be getting the deal approved in Washington, where the Department of Justice and the Federal Communications Commission must both give their blessing. Several consumer groups have opposed the combination, saying it would create a monopoly that could hurt subscribers.
Triarc makes offer for Wendy's chain
NEW YORK -- Restaurant chain Triarc Cos. Inc. said in a filing Tuesday it made an offer to buy hamburger chain Wendy's International Inc. on Nov. 12, but at a lower price than the range it indicated in July. At that time, Triarc said it would be prepared to offer between $37 and $41 a share for the hamburger chain.