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Investor's Business Daily

| June 03, 2003 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Media Ownership Rules Relaxed

1The FCC, voting 3-2, OK'd new rules that let TV networks own more stations. They can now own stations reaching 45% of the U.S. audience, up from 35%. The GOP-controlled FCC also lifted a rule that bars a company from owning a newspaper and TV or radio station in the same market -- except in the smallest markets. More on this page

PeopleSoft Gets Rival For $1.6 Bil

2PeopleSoft will swap 0.86 of a share of its stock for each share of J.D. Edwards, a rival business software firm. Based on Monday's trading, that values J.D. Edwards at $12.87 a share. PeopleSoft lost 1.42 to 14.97; J.D. Edwards rose 0.78 to 12.59. The buyout comes amid weaker corporate spending on technology. More on this page

IBM Says SEC Probes Accounting

3The SEC is investigating how it recognized some revenue in '00-01, the tech giant said after the close. IBM believes the formal probe arose from another SEC probe of a customer of its Retail Store Solutions unit, which sells cash registers and other point-of-sale products. IBM said it's cooperating with the SEC. Its shares fell 3% late.

Factory Slowdown Eased In May

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