ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Friday, January 5, 1996 TAG: 9601050046
SECTION: BUSINESS PAGE: A-5 EDITION: METRO
NEW YORK - Shareholders approved Walt Disney Co.'s purchase of Capital Cities/ABC Inc., a $19 billion acquisition that will give Disney the pieces it needs to compete in an increasingly crowded industry.
The addition of Capital Cities' television and cable networks, such as ABC and ESPN, gives Disney news and sports programming to go along with its world-leading movie and theme-park businesses.
In separate but simultaneous meetings in New York, 73 percent of Disney shareholders and 79 percent of Cap Cities shareholders voted in favor of the cash-and-stock transaction, the largest ever in the entertainment and media industry.
Disney's purchase won't be final, though, until the Federal Communications Commission and the Department of Justice approve it.
- Bloomberg Business New
Reid's to expand furniture inventory
Reid's Fine Furnishings, a furniture and accessory retailer that opened in October at 1324 Grandin Road S.W. in Roanoke, is expanding its inventory. Owner Andrea Reid, formerly of Logan Furniture in Salem, said she plans to offer 22 furniture lines by the end of the month.
The new lines will include Charleston Forge, a North Carolina-based manufacturer of occasional tables; Harden, which produces dining sets and occasional pieces; Madison Square, occasional furniture; and Statton, which offers solid cherry in traditional and upscale country designs.
Reid's also carries the Logan family's line of antiques, formerly offered at Logan Furniture, and a selection of artwork and Oriental rugs.
- Staff report
Ex-brokers accuse NationsBank ex-unit
WASHINGTON - Senior executives at a former joint venture owned by NationsBank Corp. and Dean Witter Discover & Co. directed broad efforts to mislead customers about the risks and returns of its mutual funds, two fired brokers said they told federal investigators last week.
The statements by former NationsSecurities Inc. brokers David Cray and Robert Lewis came in response to questions from Securities and Exchange Commission investigators
``We maintain that NationsBank has operated and does operate within the letter and spirit of regulations and guidelines pertaining to sales of securities in a bank environment,'' said NationsBank spokesman Ellison Clary. He described the brokers as ``disgruntled former employees.''
- Bloomberg Business News
LENGTH: Medium: 52 linesby CNB