coors

Molson Coors Brewing Co. said Wednesday its net income increased by 9 percent in its third quarter on higher prices and cost cutting, even though it sold less beer.

Anheuser-Busch and its Bud Light brand plan to replace Coors as the NFL’s official beer sponsor beginning in the 2011 season.

Terms were not immediately available, but sources said A-B is paying twice what Coors paid.

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.

Joe Corbett, who served nearly 20 years in prison for the 1960 slaying of the grandson of the founder of the Coors brewery, has died of an apparent self-inflicted gunshot.