Boeing to Buy Jeppesen From Tribune

Boeing Co. said it has agreed to pay $1.5 billion in cash to buy flight-data provider Jeppesen Sanderson Inc. from media company Tribune Co. The deal should help fuel Boeing’s charge into the vast market for aviation services and help Tribune pay off debt incurred in its purchase in June of Times Mirror Co., parent of the Los Angeles Times. Denver-based Jeppesen, which Tribune acquired when it bought Times Mirror, provides computerized flight planning, navigation, and weather data and aviation software, as well as pilot training systems and supplies. It employs 1,400 people and has annual revenue of $235 million. Boeing would retain Jeppesen’s management team. Boeing said the acquisition would lower earnings slightly in 2001, perhaps by a nickel a share. . Boeing shares fell $2.25 to close at $47.25, while Tribune shares rose 25 cents to close at $35.19, both on the NYSE.