‘Misfit’ drop

AT&T is dropping its lawsuit to stop a Verizon Wireless advertising campaign that it said unfairly depicts the firms mobile-phone network coverage. A hard-hitting ad, which was pictured in a recent Post story, that has AT&Ts iPhone stranded in the land of misfit toys typified the campaign.

‘Hot gold’

Gold futures soared to an unheard-of $1,218.40 an ounce before settling in New York trading. Gold futures rose $12.80, or 1.1 percent, to $1.213.

‘Zell zapped’

Sam Zell is out as CEO of Tribune Co. after two years at the helm of the bankrupt media company whose $8.2 billion buyout he engineered in 2007. He will remain chairman.

‘GameSunk’

GameStop shares fell 8.3 percent yesterday after Wal-Mart said it would offer deals on video games and the Nintendo Wii. The stock is off 33 percent from its 52-week high.

‘GM add’

Chevys ad agency, Campbell-Ewald, is elevating its chief creative officer Bill Ludwig to the top job, replacing Tony Hopp, as change roils the automaker, which dumped its CEO Fritz Henderson this week.

‘Amazon loss’

A US judge has rejected a bid by Amazon to get him to reconsider his preliminary approval of a revised settlement involving Google and publisher and author groups over digital copies of books.

Sources: AP, Bloomberg, Reuters & Dow Jones.