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June 25, 2002

* Amazon.com Inc. and Virgin Entertainment Group, owner of the Virgin Megastores, agreed to operate co-branded Web sites selling music, videos, DVDs, software and books. Terms were not disclosed. Amazon.com will provide the U.S. virginmega.com site's content, customer service, inventory and fulfillment.

* Quantum Corp., maker of data storage devices, said it would report a wider-than-expected loss for its fiscal first quarter because of weak sales. The company expects an operating loss of 9 cents to 13 cents a share, compared with its earlier forecast of 3 cents to 6 cents and analysts' average estimate of 5 cents. Revenue should come in at $200 million to $215 million, rather than the $238.5 million analysts forecast, it said.

* Internet shoppers will spend $14 billion in the third quarter, 41% more than a year earlier, as they grow more confident about the Web, a survey by Yahoo Inc. and ACNielsen Corp. found. Purchases will average $199 in the coming quarter, compared with $184 a year ago.

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