Also. . .

* Gannett Co., the U.S. media company that publishes USA Today, offered to buy British regional newspaper group Newsquest for about $1.5 billion in cash. Newsquest started looking for buyers earlier this year. Under the offer, Gannett would pay Newsquest shareholders $7.31 per share in cash for each Newsquest share. Shares in Arlington, Va.-based Gannett fell $2.75 to close at $70.69 on the NYSE.

*

* Morgan Stanley Dean Witter & Co. said its second-quarter earnings rose 35% to $1.15 billion, or $1.95 a share, beating the $1.56-a-share average estimate of 14 analysts polled by First Call Corp. Net revenue rose to $5.7 billion, up 23% from $4.6 billion in the year-ago quarter. Securities net income rose 54%, led by a 77% surge in revenue from trading stocks, bonds, commodities and currencies. Morgan’s commissions rose 29% to $789 million, and revenue from investments, which include a stake in equities market maker Knight/Trimark Group Inc., climbed 49%. Morgan said net income at its Discover credit card unit rose 23% to $211 million.

*

* GTE Corp. agreed to sell its unit that provides in-flight phone services to Oak Hill Capital Partners, an investment group founded by Texas billionaire Robert Bass. Terms weren’t disclosed. GTE Airfone is the largest provider of voice and data communications services for airline passengers.

*

Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section’s staff can be found at: https://www.latimes.com/bizstaff.