Mergers

Senators and independent concert promoters took turns at a hearing Tuesday slamming a proposed merger of two of the biggest forces in the music industry -- Ticketmaster Entertainment Inc. and Live Nation Worldwide Inc. "It seems to be monopolistic, plain and simple," Sen. Charles E. Schumer (D-N.Y.) said. "This is not the American dream, as the companies' witnesses might have you believe."

Talent agencies William Morris and Endeavor are expected to vote today on a merger creating a new giant in Hollywood at a time when the longtime role and power of the firms that represent actors, directors and writers are coming under severe strain.

Issues of control are bogging down a possible merger between two major Hollywood talent agencies. William Morris Agency and Endeavor have been in merger discussions for weeks, setting the stage for a new Hollywood powerhouse that would wield considerable clout in film, television, music and publishing.

There's a lot less William Morris Agency left to merge with Endeavor. The 111-year-old talent agency Monday laid off more than 120 people, or about 15% of its staff, in preparation for its pending merger with competitor Endeavor. About 40 of the affected employees were agents, and the rest were support staff. The layoffs, which have been expected since the two companies agreed to join forces late last month, hit the motion picture and television talent and literary departments the hardest.

Gainesville's first community hospital has been on life support ever since Shands HealthCare system in northern Florida bought it a dozen years ago. Now, because of the recession, the plug is being pulled on money-losing Shands AGH. This fall, its nonprofit parent company will shut the 80-year-old, 220-bed hospital and shift staff and patients to a newer, bigger hospital nearby in an effort to save $65 million over three years across the eight-hospital system.

Record fuel prices and weakening demand for air travel are taking a toll on profits of major U.S. airlines, raising prospects of a consolidation in the industry this year. Recent merger talks and Thursday's announcement by American Airlines Inc. that it would double its fuel surcharge to $40 on round-trip tickets signaled that passengers could soon see higher fares industrywide.

Delta and Northwest are close to a deal that would create the world's largest airline and jump start what is expected to be the industry's biggest consolidation wave in decades. The long-awaited pact between Delta Air Lines Inc., the nation's third-largest airline, and No. 5 Northwest Airlines Corp. could come as early as today if there is an agreement by the pilots union for a common contract.

Pilots for Delta and Northwest were still negotiating the terms of a labor contract late Wednesday, delaying plans to sign a deal that would create the world's largest airline. Directors for Delta Air Lines Inc., the nation's third-largest carrier, and No. 5 Northwest Airlines Corp. had been expected to vote Wednesday on a combination if a pilot deal had been reached. But a spokesman for Northwest's chapter of the Air Line Pilots Assn.

U.S. open-wheel auto racing, made famous by the exploits of Andretti, Foyt and Unser but then devastated by a 12-year civil war between rival factions, agreed Friday to reunify the sport in hopes of stemming its decline. The Indy Racing League and the Champ Car World Series said they agreed in principle to merge, after both struggled to maintain attendance, TV ratings and sponsors, especially in the face of NASCAR stock-car racing's surging popularity.

Delta Air Lines Inc., in talks to combine with Northwest Airlines Corp., said Tuesday that several conditions must be met before it agrees to a merger, and no potential transaction qualifies "to date." The Delta name and Atlanta headquarters must be preserved, and workers' seniority and pensions must be protected, Chief Executive Richard Anderson and Chief Financial Officer Ed Bastian told employees.