ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Wednesday, October 23, 1996 TAG: 9610230049
SECTION: BUSINESS PAGE: B-6 EDITION: METRO
New AEP unit to help digital phone servers
American Electric Power Co. said Tuesday it has created a subsidiary to sell services to the new wireless phone companies that use digital technologies.
The new unit, AEP Communications Inc., will help the holders of personal communications services, or PCS, licenses build and maintain their networks, said Columbus, Ohio-based AEP, which operates regional headquarters in Roanoke. Services would include locating, building and maintaining antenna sites.
AEP Communications also could also develop fiber-optic networks for utility communications and managing the energy use of AEP customers, the utility said. The new company also may sell capacity on long-distance fiber-optic phone and data lines to non-AEP companies on a wholesale basis.
Other services that AEP Communications may offer include mobile radio communications, remote meter reading, more sophisticated energy pricing, and transmission of data between service vehicles and home offices.
- Staff report
Judge extends Milken's probation
NEW YORK - U.S. District Judge Kimba Wood has extended Michael Milken's probation by six months while the Securities and Exchange Commission continues to investigate whether he is complying with a ban from the securities industry. Milken's probation was scheduled to expire Friday after three previous extensions.
Milken served two years in prison for securities law crimes he committed while head of junk bonds at Drexel Burnham Lambert Inc. during the 1980s. His probation includes an SEC civil settlement that bars him from the securities industry.
Milken says his recent work for media executives Ted Turner, Rupert Murdoch and others is legal because it doesn't involve the securities industry. Milken says he offers general advice about business strategies.
- Associated Press
Briefly
* Innotech Inc. of Roanoke said Tuesday it has started selling an improved type of eyeglass lens and supplies. Company officials called the thin, lightweight LiteVue their most promising new product this year. Innotech is a developer and manufacturer of eyeglass lens fabricating systems.
* Norfolk Southern Corp. on Tuesday declared a regular quarterly dividend of 56 cents per share, payable Dec. 10 to stockholders on Nov. 1.
* WJPR Fox 21/WFXR Fox 27, the Fox affiliate in the Roanoke-Lynchburg TV market, has chosen The Packett Group of Roanoke to promote its new programming. The campaign will use newspaper, radio, cable television and billboard ads to promote a 10 p.m. newscast scheduled to air this month, as well as the World Series and the Super Bowl.
* Healthkeepers Inc., a subsidiary of Trigon Blue Cross Blue Shield of Virginia, has applied to the North Carolina Department of Insurance for licensing as a health maintainance organization there. Trigon acquired Mid-South Insurance Co. of Fayetteville, N.C., earlier this year. If given the license, Healthkeepers would offer HMO products in more than half the counties in North Carolina.
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