The Washington Post - - ECONOMY & BUSINESS -

Mered­ith Corp. is sell­ing its For­tune brand for $150 mil­lion in cash to For­tune Me­dia Group, Mered­ith said Fri­day. The deal, sub­ject to reg­u­la­tory ap­proval, is ex­pected to close by the end of the year. Mered­ith said it will use the pro­ceeds to pay down debt. For­tune Me­dia Group is owned by Thai busi­ness­man Chatchaval Jiar­a­vanon. Mered­ith, based in Des Moines, had ac­quired For­tune as part of its pur­chase of Time Inc., which closed early this year. Mered­ith then sold Time mag­a­zine in Oc­to­ber to Marc and Lynne Be­nioff. Ama­ said Fri­day that it would be­gin sell­ing the most re­cent iPhone, iPad, Mac com­puter, Ap­ple Watch and Ap­ple TV mod­els on its web­site, along with branded ac­ces­sories and head­phones from Ap­ple’s Beats sub­sidiary. Pre­vi­ously, Ama­zon sold only older-model iPhones. The two tech gi­ants have clashed in the past. In 2016, Ap­ple filed a law­suit against Ama­zon al­leg­ing that the on­line re­tailer was sell­ing coun­ter­feit Ap­ple prod­ucts on its Web store. Ama­zon won’t be sell­ing Ap­ple’s HomePod, the iPhone maker’s com­peti­tor to Ama­zon’s pop­u­lar Echo brand of home wire­less speak­ers. (Ama­zon chief ex­ec­u­tive Jef­frey P. Be­zos owns The Wash­ing­ton Post.)

Ther­a­vance Biopharma and part­ner My­lan on Fri­day won U.S. reg­u­la­tory ap­proval for their treat­ment for a chronic lung con­di­tion that causes breath­ing-re­lated prob­lems. The treat­ment, Yu­pelri, is a once-daily in­hal­able so­lu­tion to be used by pa­tients with chronic ob­struc­tive pul­monary dis­ease (COPD), a lung dis­ease char­ac­ter­ized by wheez­ing or chronic cough. Yu­pelri be­longs to a class of drugs called long-act­ing mus­carinic an­tag­o­nists, with the ex­ist­ing treat­ment op­tions pri­mar­ily be­ing hand­held de­vices.

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