NEW YORK - Hostess Brands Inc. got final approval in bankruptcy court for plans to wind down, a process that includes the sale of its brands and the loss of about 18,000 jobs.
The judge approved bonus pay totaling up to $1.8 million for 19 executives. The company says the incentives are needed to keep them on board for the liquidation process, expected to take about a year.
CNN chief hires ex-NBC exec
NEW YORK - Incoming CNN President Jeff Zucker said Thursday that he intends to make the network more "vibrant and exciting" while broadening the programming on television's original but struggling cable news outlet.
The former NBC Universal chief's long-rumored selection as CNN president was announced Thursday. He'll start in January and report to Phil Kent, who runs all the Turner networks for parent company Time Warner.