The International Trade Administration has issued an AD duty order on certain steel nails from China (A-570-909).

CBS soon will sell another 50 radio stations in medium- sized markets, expecting to close the sales within a year, it said. “By selling these slower growth stations, we can focus on the larger markets that are showing some real growth thanks to the successful reformatting and programming changes we've made,” said CEO Leslie Moonves. The unnamed stations total about $300 million a year in sales, about 15 percent of radio group annual revenue and 10-12 percent of its profit, CFO Fred Reynolds said. CBS already has made overtures to other radio station groups that might be interested, he said. “It’s a little bit fluid,” he said. “There’s a series of buyers that would be interested in this and we've had preliminary discussions with them.” CBS expects to reach agreement quickly, but FCC approval -- which took about eight months when CBS sold off a batch of stations in 10 smaller markets beginning in 2006 -- probably will push the deals’ closings into 2009, he said. “We don’t expect problems with approval, but it just takes a little longer.” CBS believes potential buyers can raise the cash to buy the stations, despite tight credit markets, he said. “With the strategic buyers, there’s a number of ways either through financing or other kind of structured deals where we think we can get the value after tax that we need.” CBS now plans to use the sales’ proceeds to fund stock repurchases, but the cash also could go to fund acquisitions of other higher growth businesses, Moonves said. CBS Q2 sales gained 1 percent from a year earlier to $3.4 billion. Profit increased 1 percent from a year earlier to $408.4 million.

The International Trade Administration has issued a notice stating that it is postponing the deadline for the preliminary antidumping duty determination on steel threaded rod from China by 50 days to October 1, 2008.

The International Trade Administration has issued its final results of the antidumping duty administrative review of hand trucks and certain parts thereof from China for the period of December 1, 2005 through November 30, 2006.

Clear Channel said shareholders approved the company’s sale to two leveraged-buyout firms. A preliminary count showed holders of more than 74 percent of the broadcaster’s shares endorsing the sale, the company said late Thursday. It expects the sale to Bain Capital and Thomas H. Lee Partners to be completed Thursday. The deal was worth about $26.7 billion in November 2006, when it was announced. It was revised for the third time in May.

A federal judge on Monday denied promoter Justin Finocchiaro’s motion for a 60-day delay in a CEA suit claiming he infringes CES service marks by running a show called ACES 09. Finocchiarro sought the delay to have time to a lawyer to replace Teri Guttman Valdes, who dropped his case last month, citing “irreconcilable differences” with him. U.S. District Judge Ursula Ungaro in Miami ordered Finocchiarro to show cause in writing by Friday why she shouldn’t hold him in civil contempt for ignoring a July 2 preliminary injunction ordering him to stop using the ACES logo and other CES service marks (CED July 18 p2). Denying Finocchiarro a postponement, Ungaro also said “he must abide by” her other orders, including the injunction. The ACES logo remained on his Web site Thursday. According to Finocchiaro, Ungaro cancelled the injunction and “ordered a mediation” for February, he told us Wednesday by e-mail. He said we'd find a copy of that order on the court’s Web site, but we couldn’t.

The International Trade Administration has issued its final results of the antidumping duty administrative review of honey from China for the period of December 1, 2005 through November 30, 2006.

Verizon Wireless and Alltel are willing to divest assets in 85 cellular markets to complete their proposed merger that was announced June 5, they said in a letter released late Tuesday. The companies talked with the Justice Department before making the offer, they said. The overlapping markets the companies propose to divest include all of North Dakota and South Dakota, as well as parts of California, Colorado, Georgia, Idaho, Illinois, Kansas, Minnesota, Montana, Nevada, New Mexico, North Carolina, Ohio, South Carolina, Utah, Virginia and Wyoming. “The group of markets included in today’s filing represents a preliminary list that Verizon Wireless will divest,” Verizon said in a statement. “The list may be expanded following additional discussions with the DoJ. The company expects when the list is finalized, approximately 15 percent of Alltel’s total customers will be divested.” The carriers will honor roaming agreements in place between Alltel and regional and small carriers “at the rates in their current agreement through the original termination date of the agreement,” they said. Carrier sources say roaming is a key issue, since many have roaming agreements with Alltel. Carriers in agreements with both companies have the option of selecting either agreement post- merger. The companies outlined their proposal in a filing at the FCC.

On the opening day of about a week of negotiations in Geneva, ministers said a Doha Round deal is badly needed because of economic uncertainties. They promised to strive to settle their differences on blueprint agreements - "modalities" - in agriculture and industrial products, provided the outcome is balanced. (WTO release, dated 07/21/08, available at http://www.wto.org/english/news_e/news08_e/meet08_summary_21july_e.htm)

Eidos parent SCi Entertainment Group expects to post a loss of “no more than” 100 million pounds ($199.7 million at $1=0.500630 pounds) for its fiscal year ended June 30, it said Tuesday. The loss “reflects both the significant write- offs made” by it and delays of various major game releases from the second half into its next fiscal year, SCi said. SCi won’t release preliminary fiscal year results until Sept. 15. “We have a clear strategy in place and have taken decisive steps to become a studio-led business with a focus on cornerstone franchises and a flexible approach to distribution,” said CEO Phil Rogers. There had already been “substantial change” at the company, best known for the Lara Croft Tomb Raider games, and the business “is in good shape to take advantage of the strong overall market for video gaming worldwide,” Rogers said. “Good progress” marked the back half of the year on cost reduction and the restructuring plan outlined Feb. 29 (CED March 3 p8), SCi said. The company recently arranged a new debt facility of 25 million pounds and raised 60 million pounds before expenses via a “Placing and Open Offer” of new shares to provide working capital, it said. Integration of its North American distribution with Warner Bros. was “on track with full collaboration on upcoming title launches,” it also said. The company ended the financial year with cash of 28 million pounds, which it said was “ahead of internal projections due to prudent cash management and the timing of payments under the restructuring program.” The game Age of Conan, which Eidos co-published, was released in May and “met its internal sales target of 1 million units faster than expected,” SCi said. The game became the No. 1 PC game in the U.K., U.S., Germany and “many other territories,” it said. Game releases planned the first half of the 2008/09 fiscal year include Tomb Raider Underworld, Nov. 18 in the U.S. and Nov. 21 in other markets. Its second half launch schedule includes Just Cause 2, Battlestations Pacific and a Batman game. But the company and Warner failed to introduce a Batman title to capitalize on theatrical release last week of The Dark Knight, already one of 2008’s biggest box office hits.