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BC-Business News Digest

AP photo.

â¿¿ ELAN-BIOGEN COLLABORATION â¿¿ Biogen Idec will take over full ownership of the multiple sclerosis treatment Tysabri from its partner, Irish drugmaker Elan, for a $3.25 billion payment and royalties on future sales.

â¿¿ BRITAIN-EARNS-GLAXOSMITHKLINE â¿¿ U.K. pharmaceutical company GlaxoSmithKline is looking to cut costs further this year as it reports a sharp drop in fourth-quarter profit on problems in Europe.



BLOOMSBURG, Pa. â¿¿ Every time my husband and I drive the 677 miles from New York to my parents' house in Michigan, we dread the long stretch of Interstate 80 through the hills of rural Pennsylvania. It's beautiful, but lonely, without a lot of places to stop. On this trip, with a little help from Google and Apple, I was determined to stay caffeinated and maybe find somewhere else to eat besides McDonald's and truck stops. By Bree Fowler.

AP photos.


NEW YORK â¿¿ Media conglomerate News Corp. says earnings for the last three months of 2012 grew, helped by higher revenue at its pay TV networks and gains from larger stakes in businesses abroad. By Barbara Ortutay

AP photo.



ENGLEWOOD, Colo. â¿¿ Liberty Global Inc., the cable TV operator controlled by media mogul John Malone, is buying U.K.-based Virgin Media Inc. in a $16 billion deal that steps up the rivalry between Malone and fellow billionaire Rupert Murdoch. By Business Writer Bree Fowler.

AP photo.

â¿¿ WALL STREET JOURNAL-HACKING â¿¿ Rupert Murdoch: Chinese are still hacking The Wall Street Journal.


NEW YORK â¿¿ Time Warner says net income grew 51 percent in the last three months of 2012 even as revenue was largely unchanged. Rising fees from cable and satellite companies and higher ad revenue at the TV networks offset revenue declines at its movie studio and magazine businesses. By Anick Jesdanun.

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