Getting your player ready...
NEW YORK — The future of the U.S. tobacco industry came into sharper focus Monday when Loews Corp. announced it would spin off its Lor illard cigarette subsidiary, positioning the maker of Newport, Kent and True brands to compete with rivals who are aggressively looking to replace cigarettes as a source of revenue.
As American smokers buy fewer cigarettes, tobacco companies have started to look for alternatives such as cigars, chewing tobacco and snus, which are tea-bag-like tobacco pouches placed between a cheek and gums and are popular in parts of Europe.
The Associated Press
