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

DATE: THURSDAY, April 13, 1995                   TAG: 9504130070
SECTION: BUSINESS                    PAGE: B-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

Norfolk Southern Corp. said Wednesday it has agreed to help handle a South Korean shipping company's international container business in the Eastern United States.

NS will provide and operate a container-handling terminal in Chicago for Hanjin Shipping Co. In return, the Seoul-based company will let NS service Hanjin's intermodal line haul and terminal services east of the Mississippi River for seven years.

NS's initial investment in the Chicago facility is expected to be more than $17 million. The terminal is to be available in October. Both parties estimate the value of the contract at more than $150 million.

Hanjin Shipping's business in the Eastern United States has grown 57 percent in the past year.

- Associated Press

Six Flags near sale for $800 million

Time Warner is nearing a deal to sell about 50 percent of the Six Flags theme parks to a group of investors for as much as $800 million, according to people familiar with the plan.

The deal, which Time Warner hopes to announce within two weeks, would be the biggest asset sale engineered under Gerald M. Levin's chairmanship since he pledged to reduce the company's $15 billion debt two months ago.

Executives familiar with details of the talks said the roster of investors in Six Flags still was changing. It could include the Blackstone Group, the investment-banking firm that joined Time Warner in buying control of the theme-park chain, the nation's second largest, in 1991.

If the deal goes through, bankers and executives close to the company said, the investors would raise $200 million in new equity. Time Warner would retain equity of $200 million, giving Six Flags a total value of $1.2 billion.

- The New York Times

Microsoft to buy 10 percent of Wang

Wang Laboratories Inc. has been given a financial adrenaline shot by Microsoft Corp., which has agreed to buy up to 10 percent of the recovering computer company as part of a lawsuit settlement.

Lowell, Mass.-based Wang, which landed in bankruptcy court in 1992 and re-emerged a year later, said Wednesday that Microsoft would invest $90 million for 4.5 percent of its convertible preferred stock, maturing in 2003. The stock is convertible into common stock at $23 a share, amounting to one-tenth of the company.

In the unusual settlement, Microsoft will gain a permanent license to sell Wang's imaging and work-flow software, portions of which will be included in Microsoft's Windows 95 and NT operating systems.

The deal ends a 21-month suit brought by Wang alleging that Microsoft infringed on patents pertaining to Wang's pioneering technology.

- The Boston Globe