Roundup: XM, Kaseman, Media General
From staff and wire reports
*Two bits of news on XM Satellite Radio today:
The District-based company said it had settled a copyright dispute with music publisher EMI Music. The big recording companies were concerned that XM's portable Pioneer Inno music player enabled listeners to record songs. XM did not disclose the terms of the settlement, but it has reached similar agreements with Sony BMG, Universal Music Group and Warner Music Group.
And Federal Communications Commission Chairman Kevin Martin said his agency may vote this month on the company's merger with Sirius Satellite Radio. "I don't know what will end up happening," Martin said. "It's still the early part of the month, so it's possible. We're working hard on it."
*DC Capital Partners, a District-based private-equity firm, acquired Kaseman of Chantilly for an undisclosed amount. DC Capital President Thomas J. Campbell called Kaseman, a federal contractor that has worked with the State Department and the Transportation Security Administration, the centerpiece of "a new platform," Elite Training and Security, designed to work on training, security and logistics services.
* Media General of Richmond said it expects to make less money from publishing but to beat analysts' earnings estimates overall.
Chief Financial Officer John Schauss said in a Deutsche Bank Media & Telecom Conference that the newspaper publisher and television-station operator expects second-quarter earnings from continuing operations of 6 cents to 10 cents per share, excluding about 14 cents per share in severance costs. For the full year, Media General expects earnings from continuing operations between $1.35 per share and $1.45 per share, also excluding the 14 cents of severance expense.
Schauss said the forecast assumes no further deterioration in the U.S. or Florida economies.
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