Short Reports

Tue., April 4, 2000

From Staff

Sega of America Inc. will announce plans today to revamp its business by creating a company and an Internet access service, then spinning off the operation with $100 million in funding. The new corporation, Sega.com, will start its SegaNet Internet service this fall to let customers play against each other over the Internet with a Sega Dreamcast machine, which was launched last year.

Louis R. Hughes was named president and chief operating officer of the Lockheed Martin Corp. Monday, succeeding Peter B. Teets, who resigned amid financial turmoil at the defense contractor.

Mattel Inc. is putting its money-losing Learning Co. division up for sale, hoping to get rid of the burdensome software unit that led to ballooning debt and big losses at the world’s biggest toymaker.

CNNfn is expanding its business. The CNN sister network will boost its business-news programming to 24 hours Monday through Friday beginning in June, the network announced Monday.

Houston-based Anadarko Petroleum Corp. is buying Union Pacific Resources Group Inc. in a $4 billion stock swap that will create one of the largest independent oil and gas exploration and production companies.

Crude oil slipped along with energy products in a market that has been drifting since adjusting to OPEC’s much-awaited decision a week ago to raise production. May crude fell 47 cents to $26.43 a barrel on the New York Mercantile Exchange.

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Short Reports

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

Russia conducts massive nuclear drills as Putin visits China

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