ExtendMedia, AT&T link for Net content delivery

AT&T Inc. has formed an alliance with privately held ExtendMedia Corp. of Newton to expand AT&T's presence in the Internet content delivery market now dominated by Akamai Technologies Inc. of Cambridge. Financial details were not released. Companies like Akamai use their own global networks of server computers to speed up delivery of data from major Internet sites. AT&T is also teaming up with ExtendMedia and other companies that produce software to package and distribute online content. ExtendMedia's users include the websites for the NBC and Showtime TV networks. (Hiawatha Bray)

3Com Corp., the money-losing network-equipment maker, reported a wider fourth-quarter loss after writing down the value of its 2005 acquisition of TippingPoint. The net loss was $166.7 million, or 41 cents a share, compared with $66.2 million, or 17 cents, a year earlier, Marlborough-based 3Com said. Revenue rose 3.3 percent to $321.3 million in the period ended May 30, beating analysts' estimates. The $158 million, or 39 cents a share, write-down of TippingPoint's value was triggered by a decline in 3Com's stock, the company said. (Bloomberg)

Arbella Insurance Group of Quincy said it would begin selling commercial insurance to businesses in New Hampshire and Connecticut. It will offer policies for automobile, property, liability, workers' compensation, and other lines starting July 1. Arbella said commercial policies account for about 20 percent of its business. (Jeffrey Krasner)

Lieutenant Governor Timothy Murray plans to provide details today about a state grant to help Lexington with work on roads, sidewalks, and other infrastructure to support Shire PLC's expansion, according to the town. This year, Shire, a British biotech company with a local division in Cambridge, said it would create up to 680 jobs as part of plans to build a manufacturing plant and shift its local headquarters from Cambridge to Lexington. Susan Yanofsky, Lexington's economic development officer, said the town requested $2.6 million to support four projects under the Massachusetts Opportunity Relocation and Expansion program, but expected it would receive less because of competition from other communities. (Todd Wallack)

Massachusetts Mutual Life Insurance Co. said it has appointed Lorie Valle-Yanez vice president of diversity and inclusion. In the newly created position, Valle-Yanez will be responsible for MassMutual's diversity strategy development and implementation, the company said. Before joining MassMutual, Valle-Yanez spent six years working on diversity issues at sports network ESPN. (Chris Reidy)

Genzyme Corp. and Isis Pharmaceuticals Inc. said they finalized their agreement to give Cambridge-based Genzyme exclusive rights to mipomersen, a cholesterol drug candidate discovered and developed by Isis. Under original terms, first disclosed in January, Genzyme bought 5 million Isis shares for $150 million and agreed to pay a $175 million upfront license fee. Now Isis will contribute up to $50 million in additional development funding, bringing the commitment to $125 million. After that, Isis and Genzyme will share development costs equally. In exchange for the additional contribution, Isis might receive $75 million in milestone payments early. (AP)

The Boston Red Sox are cosponsoring two NASCAR race cars that will compete this weekend at New Hampshire Motor Speedway in Loudon. The Ford Fusions are being fielded by Roush Fenway Racing and will also be sponsored by AAA of Southern New England and Under Armour. Roush Fenway Racing Day is scheduled for today at Fenway Park with a pregame ceremony featuring the cars and their drivers. The New York Times Co., owner of The Boston Globe, holds a 17 percent stake in the Red Sox. (Jeffrey Krasner)

Waltham pharmaceutical services company Parexel International Corp. issued a forecast for 2009 profit that exceeds current Wall Street expectations. The company expects profit of $1.10 to $1.20 per share on service revenue of $1.11 billion to $1.14 billion in fiscal 2009. Analysts polled by Thomson Financial expect profit of $1.08 per share on revenue of just under $1.14 billion. (AP)