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Volume 24 No. 156
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          News Corp., "showing improved performance across all of
     its businesses except newspapers," reported fiscal fourth-
     quarter net income of $233M, or $.23 per share, compared
     with write-down related losses of $270M posted in the same
     period last year.  Full-year net income more than doubled to
     $1.14B, or $1.17 per share, compared with $561M a year
     earlier, "driven mostly by gains from News Corp.'s 22 TV
     stations and movie performance" (WALL STREET JOURNAL, 8/13).
     ...Zapata Corp. CEO Avram Glazer, whose company has begun
     aggressively purchasing Web sites and hopes to establish its as one of the Web's leading portal sites,
     participated in an online chat on the Wall Street Journal
     site on Tuesday.  Glazer, on the types of sites Zapata is
     looking to acquire: "We look for sites that are unique, not
     easily duplicated (anyone can provide news, weather, and
     sports) -- sites with a loyal audience -- and sites that
     would fit well within the ZAP framework" (THE DAILY).