CEO Leo Kiely

CHICAGO (Reuters) - Molson Coors Brewing Co <TAP.N> reported a bigger-than-expected rise in quarterly profit on Wednesday, helped by higher prices and cost savings from its MillerCoors U.S. joint venture with SABMiller Plc <SAB.L>. The brewer of Coors Light, Molson Canadian and Blue Moon beers said it earned $235.3 million, or $1.26 per share, in the third quarter ended September 26, up from $171.3 million, or 92 cents per share, a year earlier. Adjusted earnings per share of $1.14 topped analysts' average forecast of 98 cents, according to Thomson Reuters I/B/E/S. Shares of Molson Coors rose 3.2 percent to $51.00. Sales excluding excise taxes ... Read Full Story

Among the earnings stories for Wednesday, Nov. 4, from AP Financial News: GMAC Financial Services, the main lender for General Motors Co. and Chrysler Group LLC, said its loss narrowed to $767 million in the third quarter, as its auto lending unit made money while its home mortgage unit reported another loss. Brewer Molson Coors said its third-quarter profit rose 37 percent as consumers bought less of the company's beer but paid higher prices for it. Shares of Vivus Inc. fell sharply after the drug developer reported a third-quarter loss, though analysts maintained their focus on the company's potential obesity treatment Qnexa. Lumber Liquidators ... Read Full Story

Brewer Molson Coors says its third-quarter profit rose 37 percent although revenue fell as consumers bought less beer but paid higher prices for it. Molson Coors says it raised prices across its major markets but discounted some prices to compete. It also credited better cost controls for the increase in profit. The Denver-based maker of Coors Light says it earned $235.3 million, or $1.26 a share, in the three months that ended in September. Net sales at Molson Coors Brewing Co. fell 7.3 percent to $853.7 million in the quarter. Analysts predicted the company would earn 98 cents a share on revenue of $837 ... Read Full Story

TORONTO (Reuters) - The Molson family is close to completing its takeover of the National Hockey League's Montreal Canadiens for about $575 million, with most legal documents completed, financing lined up and closing expected in the next few weeks. The family said on Thursday that its acquisition partners include BCE Inc, Canada's biggest telecom company; the Woodbridge Co Ltd, the investment vehicle of Canada's billionaire Thomson family; Quebec's QFL Solidarity Fund; and investors Michael Andlauer and Luc Bertrand. Beer brewing powerhouse Molson Coors Brewing Co will remain a key Canadiens sponsor. As well, the Molson family group plans to take over Molson Coors' 19.9 ... Read Full Story

I recently had the opportunity to taste some beer that was provided to me in a promotional pack. The brewers over at the AC Golden Brewing Company in Golden, Colorado wanted me to try one of their winter seasonal beers. In this case it was a beer that I hadn't seen in a long time but is now coming out again only from a slightly different brewery. I'm talking about AC Golden's Winterfest . For those of you who live in Colorado, you may be saying, "Winterfest? Isn't that the old Coors brew?". The answer is both Yes and No. Yes, it is the ... Read Full Story