Providence Phoenix ceasing publication

The Providence (R.I.)Phoenix, a 36-year-old alternative news and entertainment weekly, is ceasing publication.

Stephen Mindich, the Phoenix Media/Communications Group’s owner and publisher, announced Thursday the last issue will be distributed Oct. 16.

Chief Operating Officer Everett Finkelstein said shrinking print advertising revenue and increasing production costs led to the decision.

The paper had survived for more than a year after the closing of the Boston Phoenix, the group’s flagship publication.

Mindich said in a statement to staff “the raw reality of continued losses” finally had to be confronted. He said “we made a difference, and for that we should all be truly proud.”

The publication began as NewPaper and was acquired by the Phoenix in 1988. The group also owns the Portland Phoenix in Maine, which is being sold to an employee group.

Mexico’s junk food taxes dragging down Pepsi, Coke

No wonder Coke and Pepsi are spending millions of dollars to fight proposed taxes on sugary drinks in California.

PepsiCo reported a higher quarterly profit Thursday as global sales rose, but one weak spot was Mexico. The company said sales of snacks declined 3 percent, hurt by a new tax on junk foods.

Recent declines suffered by Pepsi and Coke in Mexico underscore why the beverage industry is fighting tax proposals on sugary drinks in San Francisco and Berkeley.

Time Warner shareholders approve deal with Comcast

Time Warner Cable said Thursday its shareholders approved its acquisition by Comcast Corp., clearing another hurdle for the $45 billion deal.

In February, Comcast said it agreed to buy rival Time Warner in an all-stock deal. The deal will make Comcast, which also owns NBCUniversal, a dominant force in both creating and delivering entertainment to U.S. homes.

The news comes a day after Comcast shareholders approved the deal, which is still awaiting clearance from regulators. The deal is expected to close by the end of the year.

Symantec says it will split into 2 separate businesses

Security software maker Symantec is the latest company to announce plans to split itself into two.

The maker of Norton antivirus software said Thursday that it will separate into one business focused on security and the other on information management.

Symantec said that separating its businesses will create greater growth opportunities and more value for shareholders.

— From news service reports