Sinclair Broadcast buys Va. station
Sinclair Broadcast Group Inc., the Baltimore-based broadcast chain that owns Channel 45 here, has acquired all the assets of WTVZ (Channel 33) in Norfolk, Va., except those related to the Federal Communications Commission license, from Max Television Co.
David Amy, Sinclair's chief financial officer, said the company expects to acquire the license, transmitter and other remaining assets in a second stage of the deal.
The $48 million purchase, which became final Monday, brings to six the number of stations Sinclair owns -- in Baltimore; Norfolk; Pittsburgh; Milwaukee; Columbus, Ohio; and Birmingham, Ala.
Storage USA buys 11 properties
Storage USA Inc. yesterday announced that it has completed the acquisition of 11 self-storage facilities.
The 11 facilities, in the West, Southwest and Southeast, total approximately 747,000 rentable square feet and contain approximately 7,300 units. The facilities are 92 percent leased, the Columbia-based company said.
The purchase price was not disclosed.
Tyson Foods' Tyson stepping down
Tyson Foods Inc. said yesterday that Don Tyson will step down as chairman of the nation's largest poultry processor.
The resignation is effective April 21, Mr. Tyson's 65th birthday. He will be succeeded by President and Chief Executive Leland Tollett. The Fayetteville, Ark.-based company said Mr. Tyson has been elected to the new post of senior chairman.
Springs Industries to buy Dundee
Springs Industries, which makes Springmaid and Bill Blass bedding, said yesterday that it had agreed to acquire the towel maker Dundee Mills Inc. for $120 million in cash and stock.
A merger of the two century-old Southern companies would continue a pattern of consolidation in the textile industry.
Clinton criticizes Bridgestone
President Clinton attacked tire-maker Bridgestone-Firestone yesterday for "flagrantly turning its back" on U.S. labor tradition by hiring replacement workers.
"Bridgestone-Firestone should get back to the bargaining table with the United Rubber Workers to reach a fair settlement," Mr. Clinton said in a statement.
The Nashville, Tenn., company has hired 2,300 replacement workers to operate its three plants, where Rubber Workers members are striking.