Wednesday, March 26, 2003

Tristate summary



Compiled from staff and wire reports

Iams suspends lab over animal treatment

Iams pet food Tuesday suspended its contract with an independent research lab after viewing evidence of mistreatment from an animal-rights group.

Iams, based in Dayton, Ohio, and owned by Procter & Gamble Co., would not identify the lab, which People for the Ethical Treatment of Animals also declined to identify. But the company said a preliminary investigation showed probable violations of its research policies.

The lab is not in Ohio, Kentucky or Indiana, the company said.

Scripps Trust to sell millions of shares

The Edward W. Scripps Trust, controlling shareholder of the E.W. Scripps Co., plans to sell up to 7 million of its Class A shares of common stock in the media company - about one quarter of the trust's common holdings.

Cincinnati-based E.W. Scripps, parent of the Cincinnati Post and other newspaper and TV properties, filed notice Tuesday with the Securities and Exchange Commission of the proposed stock sale. The sale will not affect the trust's majority voting control.

The trust owns about 47 percent of the company's 61.7 million Class A shares outstanding and about 87 percent of the 18.4 million common voting shares outstanding.

The decision is in keeping with a long-term effort to diversify the trust's assets, Scripps Co. said in a news release.



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AK wins time to deal, but stock loses value
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Tristate summary
Business digest
Morning memo