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

DATE: WEDNESDAY, April 26, 1995                   TAG: 9504260117
SECTION: BUSINESS                    PAGE: B-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

NEW YORK - Media companies Cox Communications Inc. and Times Mirror Co. said Tuesday they plan to invest up to $200 million in two new sports-related cable TV channels and hired a former ESPN executive to run them.

The Outdoor Life channel starts in July while the Speedvision vehicle racing network will start in January 1996.

Roger L. Werner Jr., who once headed ESPN, has been hired to head both networks and a separate company that will handle advertising sales and administrative chores for both networks.

The launch comes amid a profusion of new network proposals, regulatory confusion about how much cable system operators may charge for the service and limited channel capacity on many systems.

Atlanta-based Cox is parent of Cox Cable Roanoke.

- Associated Press

First Union adds phone service

First Union Corp. said Monday it has inaugurated a new nationwide telephone banking service designed to attract customers in all 50 states.

First Union's "telephone branch" allows new or existing customers to manage their banking and investment transactions over the phone with their own personal banker assigned to their account.

The phone bank, which is being launched with eight people, is based at First Union's headquarters in Charlotte, N.C. The bank will market the service initially by telephone to First Union mortgage and credit-card customers in other states and through Internet.

The bank said telephone customers might call the toll-free number to ask for loan approvals while driving around with a real estate agent selecting a home or while negotiating at a car dealership on a Saturday morning.

- Staff report

NS declares 52-cent dividend

Norfolk Southern Corp. on Tuesday declared a regular quarterly dividend of 52 cents per share on its common stock, payable June 10 to stockholders on May 5.

- Staff report

CableRep offers Tech advertising

CableRep Advertising , a division of Cox Cable Roanoke, said it has begun offering local commercial advertising on the Virginia Tech campus cable system, reaching about 8,000 student dormitory rooms. CableRep reaches about 100,000 subscribers on cable networks in Blacksburg, Christiansburg, Radford, Roanoke and Salem.

- Staff report