Wire/staff reports

LOS ANGELES - A consortium led by Sony Corp. has agreed in principle to acquire famed Hollywood studio Metro-Goldwyn-Mayer Inc. for nearly $3 billion, MGM said late Monday.

The company said it received a cash deposit of $150 million on Monday from Sony, along with private equity companies Providence Equity Partners Inc., Texas Pacific Group and DLJ Merchant Banking Partners.

MGM said its management will recommend the deal, which it called a "proposed merger" to its board by Sept. 27.

PayPal will fine scofflaw customers

SAN JOSE, Calif. - PayPal will start fining customers up to $500 for using the online payment service on gambling, pornography and illegal sales of prescription drugs.

Those payments are already prohibited under PayPal's acceptable-use policy, but Sept. 24 will be the first time that the eBay Inc.-owned company will fine customers for any violations. PayPal also said it could take legal action to recoup any costs not covered by fines.

Bill-paying services can levy extra costs

The Ohio Consumers' Counsel, the residential utility advocate, has put together a pamphlet on utility online and over-the-phone bill paying services called "The cost of convenience.''

The OCC advises consumers to look at payment fees that can be as high as $5.95 or more, and processing times that can take up to five days. Copies of the pamphlet and a breakdown of fees by Ohio utilities can be obtained at the OCC's Web site, www.pickocc.org or by calling toll free (877) 742-5622.