Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, March 24, 1992 TAG: 9203240161
SECTION: BUSINESS PAGE: A-5 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
NORFOLK - A subsidiary of Landmark Communications Inc. has completed its purchase of The Travel Channel cable television network from a Trans World Airlines Inc. subsidiary.
The channel, which will move to Atlanta, will be managed by the broadcasting and video enterprises division of Landmark, which also operates The Weather Channel.
Landmark is parent of Times-World Corp., publisher of the Roanoke Times & World-News. The Travel Channel is carried on more than 700 cable systems to 17.5 million homes. - Staff report
Bylaw changes OK'd at Roanoke Gas Co.
Roanoke Gas Co. shareholders Monday, approved bylaws changes permitting a dividend reinvestment and stock purchase plan, and increasing the number of authorized shares the company can issue.
The company said it plans to set up a reinvestment and stock purchase plan and reserve 160,000 shares for issuance under the plan. The company's authorized stock was increased from 1 million to 3 million shares.
- Staff report
Assisted-living center bonds get initial OK
The Roanoke County Industrial Development Authority on Monday gave initial approval for up to $3.8 million in tax-free industrial revenue bonds for a 120-bed assisted-living center at Richfield Retirement Community. The one-story 44,000-square-foot building will create 25 to 30 new jobs with a payroll of $350,000, said Chip Bowling, president.
The bond issue must be approved by the county Board of Supervisors. Private financing is planned. The project will take two years to complete, Bowling said. The complex, west of Salem, has about 625 residents and more than 450 employees, he said.
Richfield, founded in 1934 as Roanoke County Public Health Association, later was known as Mercy House and McVitty House. The community has 327 residents in a nursing center, 96 beds in another assisted-living project, 86 units in Knollwood Apartments, 11 in Ridgecrest Apartments and it will have 22 condominiums in Richfield Lake Estates.
- Staff report
Econo Lodge to turn into Hampton Inn
One of five Roanoke Valley motels owned by former state Sen. Granger Macfarlane's Eastern Motor Inns Inc. is undergoing extensive renovation and will emerge as a 59-room Hampton Inn - the first in the valley.
The 48-room Econo Lodge on Franklin Road near Tanglewood Mall will be gutted and expanded; the new motel will have a breakfast bar and an expanded laundry room, Macfarlane said Monday.
Eastern Motor Inns owns and operates five motels in the Roanoke Valley, one in Wytheville and one in North Carolina.
- Staff report
by CNB