Two companies purchase Lynnfield, Wakefield sites

THE REGION

National Development of Newton and Pyramid Advisors of Boston have purchased a 220-acre Lynnfield property with an 18-hole golf course, Boston Sports Club, and the 280-room Sheraton Colonial Hotel in Wakefield , the companies said. National Development managing partner Ted Tye said the company is considering building a village-like lifestyle center, with retail and residential use, on a portion of the golf course. The Sheraton will be run by Pyramid, which owns and manages more than 10,000 US hotel rooms. The 10-story hotel, along Interstate 95, was built in 1949 by George Page and has 25,000 square feet of conference and meeting space. (Thomas C. Palmer Jr.)

About 320 Raytheon Co. Beech 1900-series planes must undergo emergency inspections for cracks that may cause the wings to fall off, the Federal Aviation Administration said. Inspections must be completed in 24 hours or before the twin-engine turboprops fly again, the FAA said. Planes with cracks must be grounded until repairs are made, the agency said. About 250 of the 19-seat planes are flown by commercial carriers including Mesa Air Group Inc.'s Air Midwest unit, Great Lakes Aviation Ltd., Midwest Air Group Inc.'s Skyway Airlines, and Colgan Air Inc., said an FAA spokeswoman. The rest are privately owned, she said. ``Raytheon is working on a fix right now," said Mike Turner, a spokesman for the Waltham-based company's airplane unit in Wichita, Kan. ``It's investigating where they are coming from, what's causing it." (Bloomberg)

Hewlett-Packard Co. cut into EMC Corp.'s two-year lead as the world's top seller of data-storage computers, researcher IDC said. HP's data-storage sales grew 10.3 percent to $800 million in the second quarter from a year earlier, boosting its market share to 19.3 percent from 18.9 percent, according to a report by Framingham-based IDC. Sales of EMC-branded machines that organize and retrieve data rose 3 percent to $830 million from the year-earlier period. Market share for Hopkinton-based EMC fell to 20 percent from 21 percent, IDC said. Much of HP's gains occurred in Western Europe, where EMC had problems filling orders, said IDC analyst Brad Nisbet. (Bloomberg)

AnorMed Inc., a Canadian developer of treatments for AIDS and cancer patients, advised shareholders to take no action on Genzyme Corp.'s $380 million tender offer. Holders should wait for an advisory committee of the board to evaluate the $8.55-a-share offer, the company said. Acquiring AnorMed would diversify Cambridge-based Genzyme's products beyond the rare genetic diseases on which it now focuses, Genzyme said this week in disclosing its bid. (Bloomberg)

THE NATION

News Corp.'s popular MySpace.com said it will make a move into the digital music business by selling songs from nearly 3 million unsigned bands. Songs can be sold on the bands' MySpace pages and on fan pages in noncopyright-protected MP3 file format, which works on most digital players, including Apple Computer's market-dominating iPod. The bands will decide how much to charge per song after including MySpace's distribution fee. The service will be managed by Snocap, which provides digital licensing and copyright management services. Snocap was started by Napster founder Shawn Fanning. (Reuters)

Sinclair Broadcast Group Inc. said its two CBS affiliate stations will air a documentary about the Sept. 11 terrorist attacks late at night instead of in prime time to avoid the threat of federal indecency fines. The show, ``9/11," will be broadcast at 11:30 p.m. local time on Sept. 10 at CBS affiliate WGME-TV in Portland, Maine, and at 10:30 p.m. at KGAN-TV in Cedar Rapids Iowa, Sinclair said. The documentary aired twice in 2002 during prime time. Since then the Federal Communications Commission has begun more aggressive enforcement of its indecency rules. Sinclair said inconsistent rulings and a lack of guidance from the FCC forced the company to delay the broadcasts until after 10 p.m., when indecency rules aren't in effect. The film includes footage showing the destroyed World Trade Center in New York as it imploded and has audio of people screaming and using four-letter words. (Bloomberg)