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Business Digest
Halo 2 sales debut may hit $100 million

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Moore said at an investment conference in New York yesterday that one retailer reported selling more than 200,000 copies of the game before 9 a.m. The game costs $50, but a limited "collector's edition" sells for $55.

Boeing

British firm passes on Wichita plant

LONDON — British aerospace firm GKN said yesterday that it did not plan to acquire Boeing's Wichita plant.

"We did put in an indicative offer to Boeing regarding the outsourcing of the Wichita plant, and we do not expect the issue will be taken any further," a GKN spokesman said.

GKN said in September that it was taking another look at possibly buying the plant after earlier denying it was interested.

IAC/InterActive

CFO to take over travel business

IAC/InterActive, the Internet and television-commerce company controlled by Barry Diller, named Chief Financial Officer Dara Khosrowshahi to lead its travel business, which runs Web-reservation sites including Expedia and Hotels.com.

Khosrowshahi succeeds Erik Blachford as president and chief executive officer of IAC Travel.
 
Blachford replaced Rich Barton in February 2003 as chief executive of Expedia.com. Both men helped build the company from a startup within Microsoft into the world's largest online-travel-booking site. IAC purchased Microsoft's majority ownership of Expedia in early 2003.

Seattle Genetics

Genentech makes technology payment

Seattle Genetics said yesterday it is receiving $1.6 million from industry pioneer Genentech in exchange for rights to use the Seattle Genetics technology that connects antibodies to drugs.

Seattle Genetics said it has received $20 million in fees and equity investments from Genentech for the rights to use Seattle Genetics technology. The partnership was first signed in April 2002.

Anthem, WellPoint Health

California official gives OK to merger

LOS ANGELES — The state's insurance commissioner approved a $16.4 billion merger creating the nation's largest health-insurance company yesterday, after saying he had wrung hundreds of millions of dollars out of the companies involved that would be used to improve health care for all Californians.

Insurance Commissioner John Garamendi had blocked the proposed merger between Indianapolis-based Anthem and WellPoint Health Networks' California subsidiary Blue Cross Life & Health Insurance for months, saying that it would pull $400 million a year out of California in the form of dividends and that the buyout package it offered WellPoint's chief executive was excessive.

Shares of both companies surged on the news. Anthem rose $4.73 to $91.23 yesterday. WellPoint shares gained $8.93 to close at $113.90.

Compiled from Seattle Times business staff, Reuters, Bloomberg News and The Associated Press