News briefs

NBC to absorb its

Internet subsidiary

NEW YORK - NBC is shutting down its loss-ridden Internetsubsidiary, acknowledging that any hopes of it becoming profitablehad vaporized along with the online advertising market. Many of the300 jobs there will be eliminated as the unit's assets areintegrated into NBC. The announcement today marks the latest moveby a major media company to drastically scale back its Internetambitions. The Walt Disney Co. and News Corp. have also absorbedtheir online units, and other media players have pulled plans tosell shares in their online operations to the public.

Senior executives at NBC and NBC Internet told The AssociatedPress that they had been weighing alternatives for the subsidiarysince the beginning of the year, including a sale, a merger withanother company, or liquidation.

"The sharp declines in the Internet advertising market convincedus that it didn't make sense to pursue a portal strategy," NBC'schief financial officer Mark Begor said. "We wanted to find a way tomaximize shareholder value and wind down the business in the bestway possible."

Shares of NBC Internet had fallen from a high of just above $100in January 2000 to $1.50 on Friday. With Monday's announcement,shares jumped 64 cents to $2.14 in early trading Monday on theNasdaq Stock Market. Shares of NBC's parent company, GE, rose $1.19to $42.36 on the New York Stock Exchange.

Northwest, union

reach agreement

MINNEAPOLIS - Northwest Airlines and its mechanics reached atentative contract agreement early today, days before arbitratorswere to recommend settlement terms to end a 4 1/2-year stalemate.

Steve MacFarlane, president of Local 33 of the Aircraft MechanicsFraternal Association, said union members would be briefed duringthe next two weeks in anticipation of a ratification vote.

He would not provide details of the tentative agreement reachedafter 20 hours of weekend bargaining before the National MediationBoard.

Richard Anderson, chief executive of Northwest Airlines, alsoconfirmed the tentative deal but would not provide details.

"I'm gratified that we have reached an agreement, and hopefulthat it will go quickly and smoothly toward ratification," Andersonsaid.

Northwest's stock rose by more than 4 percent on the news bymidday today. The airline's shares were trading at $22.56, up 94cents, on the Nasdaq Stock Market.

Talks between the union and the nation's fourth-largest airlinecollapsed last month, and Northwest mechanics prepared to go onstrike until President Bush stepped in.

British helicopter

goes down with 7

PRISTINA, Yugoslavia - A British helicopter carrying seven crewmembers crashed today in mountainous terrain close to Kosovo'sboundary with Macedonia.

NATO officials said visibility was poor, with heavy rain andclouds, when the Puma helicopter went down at about 3:45 p.m. nearKacanik, 30 miles south of Pristina.

Maj. Axel Jandesek, a spokesman for the NATO-led Kosovopeacekeeping force, said he had no information on the state of thecrew.

In London, a Defense Ministry spokesman also said he had no wordon the condition of those on board.

The spokesman, who spoke on condition of anonymity, also couldnot provide information on the cause of the crash, but said, "thereis no indication of any hostile action."