The Palm Beach Post from West Palm Beach, Florida on September 12, 1995 · Page 25
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The Palm Beach Post from West Palm Beach, Florida · Page 25

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West Palm Beach, Florida
Issue Date:
Tuesday, September 12, 1995
Page:
Page 25
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THE PALM BEACH POST TUESDAY, SEPTEMBER 12, 1995 11B 2 Martin AM radio stations sold By MITCH McKENNEY Palm Beach Post Staff Writer "Two Martin County radio stations, WSTU-AM 1450 and WHLG-FM 102.3, are being sold to Palm Beach Radio Broadcasting Inc., the National Enquirer-controlled group that operates Indian-town-licensed WPBZ 103.1. ' WSTU, an oldies station licensed to Stuart, and Jensen Beach-licensed WHLG, which plays adult contemporary music, will keep their staffs and formats, said WPBZ general manager Gary Hess, who holds a 20 percent stake in Palm Beach Radio. Peter Callahan, chief executive officer of National Enquirer and Star publisher American Media Inc., holds 60 percent, while Vice Chairman Maynard Rabinowitz holds 20 percent, Hess said. "We could start lots of rumors about format changes," Hess said, though he said there was no need because the Glascock family, which bought WSTU in 1969, "did a really good job." The family founded WHLG in 1980 with call letters in memory of Harvey L. Glascock. Federal Communications Commission approval of the sale is expected in three months. American Radio Systems, which in the past 15 months has bought WIRK, WBZT and WKGR, was involved in the negotiations and is financing the sales of WSTU and WHLG, Hess said. The purchase price was not disclosed. At the same time American bought WKGR in February for $19 million, it paid $10 million for WPBZ and "assigned" it to Palm Beach Radio. With Palm Beach Radio operating three such stations, American Radio is poised to retrieve them and have six stations in the market if the rules ever allow it. The FCC limits ownership to two AMs and two FMs in the same market, though expected telecommunications reform has prompted a flurry of station sales. Rexall expands direct sales to Mexico Bloomberg Business News ; WASHINGTON Rexall Sundown Inc. said its direct sales unit will expand internationally by going into Mexico. Rexall Showcase International sells the company's vitamins and other nutritional products through independent distributors, similar to Amway Corp. So far, the division has operated only in the U.S. The company will set up a network of distributors in Mexico later this year and plans to expand into Korea in 1996. Damon DeSantis, Rexall's president, made the announcement Monday during a speech before the Council for Responsible Nutrition and the Direct Selling Association in Washington. "Spreading democracy in Mexico is creating a more favorable climate for our type of industry," he said. Rexall, based in Boca Raton, also announced several new products, including Vascular Complete, for the vascular system; Traum-Ex, a natural homeopathic pain remedy; Women's Formula 1, a nutritional complex with non-toxic carbonyl iron for women of child-bearing age; and Women's Formula 2, a vitamin and mineral complex with calcium for post-menopausal Boca firm, Rockwell create roadside emergency network Bloomberg Business News BOCA RATON ADT Security Systems Inc. said it formed an alliance with Rockwell International Corp.'s automotive unit to create a roadside emergency response network. ; Terms weren't disclosed. The network will use Rockwell's existing Global Positioning System, or GPS, a satellite tracking system, and ADT's existing network of customer monitoring centers to provide distressed motorists with emergency assistance. " Motorists will be able to use the network by pushing a button on a device to transmit a signal through the GPS to ADT centers. The center will record and relay such information as vehicle location and forward it to appropriate emergency organizations. The companies said the device can be installed as part of a vehicle's system or as a unit separate from the vehicle. Rockwell's El Paso, Texas, plant is producing test units and will also assemble the in-vehicle hardware for the units. ADT will market, install and maintain the systems. The system, which will be introduced in 1996, will be sold first to ADT's commercial clients, then to its other customers and to the consumer electronics aftermarket, said ADT spokesman Ralph L. Frank. Boca Raton-based ADT is the largest provider of electronic security services in the country. Seal Beach, Calif.-based Rockwell develops and makes products for the aerospace, electronics, automotive and graphics industries. Citizens Federal Bank Comes to I 1 Delray Square N Citizens Federal Bank TO 11 1 1 pub"x i If Atlantic Ave. ' I I CD minimum deposit Is $2500. Rates subject to chanse. Interest compounded daily. Penalty for early withdrawal. Annual Percentase Yield offered as of 82195. DELRAY BEACH 4767 W. Atlantic Ave. (In Delray Square, Next to Publix) 496-7570 Rates also available at: WEST PAIM BEACH: 2911-CN. Military Trail 684-0991 LAKE WORTH: 7753 Lake Worth Rd. (Nassau Square) 968-3337 BOYNTON BEACH: 145 N. Congress Ave. 732-6400 BOCA RATON: 9060 Kimberly Blvd. 482-6655 GitizenslfedBPallilSanh A FEDERAL SAVINGS BANK women. The bulk of Rexall's sales are in retail stores. Several years ago it created the direct selling division and now calls it its fastest-growing business. Rexall Showcase made up about 23 percent of the company's $126.4 million in 1994 sales. That's expected to increase, a spokesman for the company said. In the fiscal third quarter, ended May 31, direct sales soared 98 percent. DeSantis predicts that Korea will be another booming market for direct sales. Tax-Exempt Municipal Bond Issue dPMEdD smnE 7.00 Yield to Maturity 6.98 Current Yield Subject to Amt. Minimum Purchase $50,000 1-800-241-1247 23 Municipal Bond Consultants for the Private Investor Member NASD, SIPC & MSRB 3111 University Drive Suite 625 Coral Springs, Florida 33065 Subject to Availability and Current Market Con Jit ionsMay Be Subject to State & Local Taxes. Capital Gains, If Any, May Be Subject to Tax. PCs To advertise computers and software, call (407) 820-4300 or (800) 432-7595, ext. 4300. If Your Bank Doesn't Offer You An Account telike ike TWs, With A rrnl ni 1 1 n 1 l nis, iou snouia bwitcn rm in tt t io rirst union. KPW Compare this rate to your bank's money market rate, and then come see us. For combined deposits of $15,000 or more, we can offer you a money market rate of 5.01 annual percentage yield. And that's just for opening a CAP Account, which will not only make you money, but save you time as well. The CAP Account Wliat is it? And why should you have it? First, the CAP Account is a money market account that is simple, easy to use, and pays an interest rate higher than you can get at most other banks. Second, your CAP Account is combined with a brokerage account through First Union Brokerage Services, so you can take advantage of mutual funds and other investment opportunities. You can have your entire financial picture in one statement every month. CAP by pJione. Get 24-hour automated account informatioa Or, personal customer service by phone, six days a week. Mon. - Fri, 8 a.m. -8 p.m., Sat., 8 a.m. -1 p.m. You can also add the Telephone BillPay service for even more convenience. Instant Access. You have access to your money market account with ATMs and through the use of your CheckCard, which can be used at thousands of VISA merchants worldwide. For more information, visit any Erst Union branch. Or call 1-800-733-8812. Put your money to work, and take advantage of the 5.01 APY money market rate. Open a CAP Account today, and keep your money liquid, safe and growing. 6N APY IS AS OF SEPTEMBER 7, 1995, AND IS SUBJECT TO CHANGE $15000 MINIMUM DEPOSIT IN CASH OR SECURITIES TO OPEN THE CAP ACCOUNT. BROKERAGE AVAILABLE THROUGH FIRST UNION BROKERAGE SERVICES, INC (MEMBER NASD), A BROKERAGE AFFILIATE OF FIRST UNION NATIONAL BANK OF NORTH CAROLINA. SECURITIES ARE NOT ENDORSED OR GUARANTEED BY FIRST UNION, ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF FIRST UNION, ARE NOT INSURED OR OTHERWISE PROTECTED BY THE FDIC THE FEDERAL RESERVE BOARD OR ANY OTHER GOVERNMENT AGENCY, AND INVOLVE INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF PRINCIPAL 1995 FIRST UNION CORPORATION SOME FEES MAY APPLY. FEES COULD REDUCE EARNINGS ON THE ACCOUNT. EPIC 1NMIHKH Tt)in.(l00

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