ALSO

* Lockheed Martin Corp. said it will halve its dividend and may sell a data-processing business after fourth-quarter profit fell 20% because of rising costs. Profit from operations fell to $227 million, or 59 cents a share, from $285 million, or 75 cents, in the year-ago quarter. Revenue fell 2.8% to $6.98 billion. Bethesda, Md.-based Lockheed may sell its IMS division, which sells data-processing services to state and local governments and has annual sales of about $500 million, while the dividend will drop to 11 cents a share. The plan is intended to pare expenses while it fixes problems that have caused delayed launches of its Proton rocket and rising costs in its C-130J transport plane. On Thursday, Lockheed said it would lay off 2,000 workers, including 800 at its Skunk Works in Palmdale. Lockheed shares fell 56 cents to close at $18.88 on the NYSE.

* Ticketmaster and MTV dropped two venues from an online ticket sale for concerts by the Red Hot Chili Peppers a day after ETM Entertainment Network Inc. filed suit, claiming it holds exclusive ticketing rights. The dispute concerns an MTV-sponsored promotion in connection with the Chili Peppers’ March-to-May tour in the Midwest, South and East Coast. Ticketmaster and MTV were selling general admission tickets through their Web sites as part of a three-day pre-sale before the tickets go on sale at box offices today. The MTV site listed arenas in Greenville, S.C., and Wilkes-Barre, Pa., as “not available because of contractual restrictions.” In a statement, ETM said it will continue to pursue its suit again Ticketmaster, a subsidiary of USA Networks Inc.; Ticketmaster Online CitySearch; MTV, a unit of Viacom Inc.; and Q Prime Inc., the band’s management company.

* The Federal Trade Commission again postponed its vote on whether to challenge BP Amoco’s proposed $27-billion buyout of Los Angeles-based Atlantic Richfield Co., this time until Wednesday. The commission had delayed the vote from Friday until Monday after John Browne, chief executive of London-based BP Amoco, presented a new offer to win U.S. approval of the deal, people familiar with the talks have said.

* Steven Lee has been named president of the Los Angeles Times’ Orange County Edition, effective immediately. He replaces Roger Oglesby, who is moving to the Seattle Post-Intelligencer as its publisher and editor. Lee, who had been president of The Times’ Inland Valley/San Gabriel Valley region since its creation in 1998, will be responsible for the overall strategic direction of the Orange County Edition’s business operations, including advertising, circulation and marketing. He reports to Robert Magnuson, Times senior vice president, regions.

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