GOOD NEWS? The outcome of a huge...

GOOD NEWS? The outcome of a huge case involving the Newhouse publishing empire and the IRS is said to have encouraged the Irvine Co. in its battle with heiress Joan Irvine Smith. . . . Newhouse heirs won a court victory over the IRS, which had valued the Newhouse chain at $2 billion and demanded $600 million in taxes. . . . The Newhouse family said it was worth $250 million . . . . Similarly, Irvine Co. Chairman Donald L. Bren says the firm was only worth $1 billion when he bought it; Smith says it was worth $3 billion. . . . A court decision is expected soon.