Welles' Heiress May Share 'Kane' Fortune
Midwest Air to Adopt Tiered Seating Plan
Fox Interactive Media Buys Photobucket Inc.
PayLess ShoeSource Posts 8 Percent Gain

Welles' Heiress May Share 'Kane' Fortune

A court of appeals ruled Wednesday that Beatrice Welles, daughter of maverick filmmaker and star Orson Welles, may be entitled to home video rights and profit participation in the classic 1941 film, "Citizen Kane." The three-judge panel said a lower court was wrong to side against her in favor of Turner Entertainment Co., a unit of Time Warner Inc., without considering a 1939 contract between Welles and RKO Radio Pictures Inc. The court found the contract "ambiguous," and said a trial court should have heard Beatrice Welles' claim that her father's estate could be owed a profit share from the movie under a possible separate agreement.

Midwest Air to Adopt Tiered Seating Plan

Midwest Air Group Inc. on Tuesday announced it would begin two-tiered seating on its flights, a nod to its rival, Orlando-based AirTran Holdings Inc., the low-cost carrier that has made unsolicited buyout bids for the regional airline. The move adds about 12.5 percent more capacity for Midwest Airlines and is expected to generate between $30 million and $35 million per year. It puts more seats on Boeing 717 flights - which serve larger cities and business customers - by changing the existing two-by-two configuration and adding in less-expensive, two-by-three seats.

Fox Interactive Media Buys Photobucket Inc.

The parent of MySpace is buying the media-sharing site Photobucket for about $300 million, bringing together two of the Internet's most popular hangouts. The deal announced Wednesday will give MySpace and sister sites under News Corp.'s Fox Interactive Media access to Photobucket Inc.'s photo and video technologies, while Photobucket gets Fox's resources to accelerate development of its tools. Peter Levinsohn, president of Fox Interactive, said Photobucket also would be able to incorporate advanced slideshow generators and other editing tools from Flektor Inc., which Fox also announced Wednesday it bought.

PayLess ShoeSource Posts 8 Percent Gain

Retailer Payless ShoeSource Inc. on Wednesday said first-quarter profits rose 8 percent on stronger sales. The company reported earning $38.9 million, or 59 cents per share, during the period that ended May 5, compared with $36 million, or 53 cents per share, during the same period a year ago. Revenue during the quarter increased 4.9 percent, from $694.5 million to $728.6 million. Analysts surveyed by Thomson Financial had expected earnings of 58 cents per share on sales of $723.6 million. The Topeka-based company announced last week that it plans to buy Stride Rite Corp. for $800 million and would then change the overall company's name to Collective Branding Inc.