Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, March 26, 1994                   TAG: 9403280172
SECTION: BUSINESS                    PAGE: A-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

Park Communications Inc., Ithaca, N.Y., parent of Roanoke television station WSLS, put itself up for sale Friday.

The company, which also operates a television station in Richmond, two Richmond-area radio stations and newspapers in Waynesboro and Manassas, was ranked in 1992 by Advertising Age as the 99th-largest U.S. media company.

In a brief announcement distributed Friday to employees of Roanoke's Channel 10, the company said Park's board of directors had voted to seek the sale, said Jim DeSchepper, general manager of WSLS.

The announcement said the action followed the decision of the estate of company founder Roy H. Park to dispose of its 89.6 percent interest in the company. Park died Oct. 25 at age 83. In his will, he left 51 percent of the company's stock to a foundation in which employees can invest.

The company has not agreed to sell to any specific buyer, said Park spokesman Jack Claiborne, who declined to comment further on any negotiations.

Park Communications common stock rose $2.75 on Friday, closing at $22 a share after trading 182,600 shares.

- Staff report

Bankruptcy Court gets 6 petitions

Six petitions with business connections have been filed in the U.S. Bankruptcy Court for Western Virginia in Roanoke:

David S. Farmer of Dublin, trading as Farmer Real Estate Auction and Appraisal, filed for liquidation, listing assets of $9,400 and liabilities of $20,615.

Leslie Lee Jarrells Jr., doing business as Central Texaco at Blacksburg, sought a wage-earner plan for repayment of debts, listing assets of $200,427 and liabilities of $260,532.

Burton Hurley and Betty L. Hurley, trading as Prater Branch Mining Inc. of Wolford in Buchanan County, filed for liquidation, estimating assets at more than $100,000 and liabilities over $500,000.

Long Ridge Leasing Inc., also of Wolford, filed for liquidation. Betty L. Hurley is president of the company. It estimated assets at more than $100,000 and liabilities at more than $500,000.

Glen A. Stinson of Honaker, owner of Stinson Enterprises Inc., asked for liquidation, listing assets of $100 and liabilities of $64,589.

Brian Keith Criner and Kristen Lee Lineberry Criner of Roanoke filed for liquidation, with assets of $61,140 and liabilities of $79,914. She is a self-employed baby-sitter.

- Staff report