Personal Finance

Dish Network and Ntelos team up

Dish deal

Satellite TV provider Dish Network and regional cellphone company Ntelos said they have agreed to develop a fixed mobile broadband service within Ntelos’ coverage area. Financial terms were not disclosed.

The area in question covers customers in Virginia, West Virginia and parts of Maryland, North Carolina, Pennsylvania, Ohio and Kentucky. The service is expected to give Ntelos and Dish customers, many of whom are in underserved rural communities, home and mobile access to reliable high-speed Internet, the companies said.

Severance opposed

American Airlines’ proposal to pay a $20 million severance to chief executive officer Tom Horton as part of the carrier’s merger with US Airways Group Inc. is being opposed by the U.S. Trustee’s Office, a part of the Justice Department that monitors bankruptcy proceedings.

The severance payment violates bankruptcy laws, the office said in a court filing in New York.

American parent AMR Corp. has sought court approval of the severance under its plan to exit bankruptcy court protection by merging with US Airways. A federal bankruptcy judge denied approval of the severance when he approved the merger agreement in March.

Another Hulu bid

Yahoo submitted an offer for Hulu, an online video site, according to a Bloomberg News report, expanding the number of suitors for the service to at least seven.

Yahoo, which said this week that it is buying Tumblr for $1.1 billion, made the offer Friday, according to the report. The value of Yahoo’s offer wasn’t immediately known.

Other bidders include KKR Co., DirecTV, Time Warner Cable, Guggenheim Digital, the Chernin Group and a joint offer from Silver Lake Management and talent agency William Morris Endeavor Entertainment, Bloomberg said.

Earnings kick

Foot Locker said its first-quarter net income rose 8 percent, helped by higher sales at its established stores.

The earnings beat Wall Street expectations, while revenue matched predictions.

For the quarter ending May 4, the athletic shoe retailer earned $138 million, or 90 cents a share. Revenue rose 4 percent to $1.64 billion from $1.58 billion.

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