THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Friday, July 21, 1995 TAG: 9507210519
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Medium: 71 lines
Landmark Communications Inc. of Norfolk said it will launch a travel-oriented TV channel in South Africa and several other southern African countries Oct. 1. Landmark's British-based channel, ``Travel,'' will be satellite-broadcast in South Africa, Lesotho, Mozambique, Namibia, Swaziland and Tanzania via a company called Multichoice SA. The planned addition will bring to 36 the number of countries in which Landmark-owned travel channels are distributed. Landmark predicted it will have 500,000 subscribers for the channel in southern Africa within five years. The company previously announced a planned Latin American version of The Travel Channel, the U.S. flagship of its travel operations. (Staff) Smithfield Foods files complaint against CP&L
Smithfield Foods Inc. filed a formal complaint against Carolina Power and Light Company with the Federal Energy Regulatory Commission. The rates being charged to the company at its facility in Tar Heel, N.C., are illegal and anticompetitive under federal law, according to Smithfield Foods. Smithfield wants CP&L to stop imposing penalties on the company for generating a portion of its own electric power rather than purchasing all it needs from the utility. As a part of its facility in Tar Heel, Smithfield Foods has built and is operating 27 mega-watts of electric peak-shaving generators. CP&L began billing Smithfield Foods the penalties in February 1995. If not eliminated, the charges may amount to $1.5 million to $2.2 million annually as the load at the Tar Heel plant increases. (Staff) nView seals agreement with Ingram Micro
nVIEW Corp. signed a distribution agreement with Ingram Micro, the world's largest distributor of microcomputer products. Ingram Micro, headquartered in Santa Ana, Calif., will distribute nVIEW's entire line of electronic image projection products through its worldwide network of over 65,000 reseller customers in 65 countries. The agreement calls for Ingram Micro to handle the entire line of nVIEW projection panel and projector products through Ingram Micro's technical products division. (Staff) CSX restructures charge, causes earnings to fall
Richmond-based CSX Corp. said its second quarter earnings fell to $19 million, or 18 cents per share, due to a previously disclosed restructuring charge. CSX earned $162 million, or $1.55 per share, in the same period last year. The $257 million pre-tax charge paid for streamlining communications at its railroad unit and for reflagging some of its Sea-Land ships and reorganizing the shipping unit. Revenues were $2.6 billion in the quarter, up from $2.4 billion. Without the charge, CSX said it would have made $184 million, or $1.75 per share. CSX operates rail service and owns a containership terminal in Hampton Roads. (Staff) Gannett after Multimedia to tune of $1.6 billion
Gannett Co. is weighing an 11th-hour $1.6 billion bid for Multimedia Inc., according to executives close to the talks. The Arlington-based publisher of USA Today and other papers spoke with potential bidders earlier about acquiring Multimedia's 11 daily and 49 nondaily newspapers. A purchase of Greenville, S.C.-based Multimedia would boost Gannett's presence in the media industry outside of the newspaper business. Multimedia would bring to Gannett five radio stations, five television stations, newspapers and unrelated businesses in security systems. (Bloomberg Business News) by CNB