Citizens' Voice from Wilkes-Barre, Pennsylvania • 4

Banker feels local economy won't match national rate -M Tube Talk By PATTI CLIFFORD CHiienj' Vok Staff Writer I. (if i I Ready for a sale? WBRE's list: Expect WBRE to be sold possibly by the end of the year. And depending upon who purchases the number two station in the Wilkes-BarreScranton TV market, there could be some interesting developments. WBRE, owned by Northeastern Television Investors, was put on the selling block last year. Since that time, some interested buyers have toured the station.

"Our headquarters is in the final stages," said WBRE general manager Art Daube. "A sale could come down within a few months." A list narrowing several possible buyers is being reviewed by the parent company, which is getting rid of all its TV stations. Interestingly, one of the companies on that list is Abry Communications, a name which at first glance means nothing, unless, of course, you find out that Abry is one of the principal investors in Nexstar Broadcasting, the relatively new owners of WYOU. While Abry is not the sole owner of WYOU, there could be some complications getting Federal Communications Commission approval should Abry be the lucky buyer. The FCC does not allow a company to own two TV stations in the same market.

But should a sale occur somehow, there may be some interesting scenarios played out in this TV market What will happen to both WBRE and WYOU? The national economy for 1997 will remain much like that of last year, with local economic growth still behind the national level. Stuart G. Hoffman, senior vice president and chief economist for PNC Bank, told a group of local business people Wednesday at Convention Hall, Pittston Township, that the economy will continue to experience a level of growth nationwide in 1997. However, that growth will not be matched locally. "This area has been a laggard, and frankly, the picture has not changed," Hoffman said of the local economy.

One of the most important factors that is continuing to hold back the economy locally is the lack of job growth. There was no real job growth in 19, and growth in the previous few years was very slight. While locally the unemployment rate fell slightly in 1996, Hoffman explained that decrease was based on more people leaving the job market or moving out of the area, not because of an increase in jobs. In addition to employment, the housing market, which has been a major boost for the national economy, hasn't been as promising locally. "It really hasn't been firing on all cylinders," Hoffman said of the local economy.

He stressed however, that although the local economy has fallen behind the national level, the economic outlook for 1997 isn't bad. Economic growth is not expected to decrease during the year, and some slight growth is predicted. According to Hoffman, these local conditions are not likely to improve much any time soon. "For the next year or two the eco- PNC official offers comments Peter K. Classen, left, president and chief executive officer of PNC Bank's Northeast Pennsylvania market, and Stuart G.

Hoffman, senior vice president and chief economist for PNC Bank at yesterday's parley. Some persons say that if Abry is the successful buyer, then WYOU could be sold and that WBRE, the more viable of the two stations, would remain. WBRE general manager Art Daube and WYOU general manager and Nexstar CEO Perry WBRE could find a new owner by the end of this year. WYOU's investors are interested. nomic trends won't change much," Hoffman said.

"I can't suggest this area will have growth on par with the rest of the nation." He added, however, that some noticeable changes have been taking place on the state level to help improve not only the economic outlook in Northeast Pennsylvania, but also across the state. He said Gov. Tom Ridge's continued efforts at workers compensation reform and offering other incentives for businesses to stay in Pennsylvania will help improve economic conditions on the local level. While the local economy continues to struggle, on a national ClTIZENS'VoiCE (ISSN 1070-8626) (USPS 450-590) 75 N. Washington Wilkes-Barre, PA.

1 871 1 level there has been a sustained period of growth during the last six years. That level of growth is likely to remain consistent this year if some important economic variables on the national level do not change. In predicting a growing national economy, Hoffman explained that inflation is expected to remain steady throughout 1997 at approximately three percent. This low rate of inflation will continue to strengthen the stock market as confidence in the United States' economy continues to improve. In addition, interest rates will remain "relatively affordable" in (See ECONOMY, page 49) An Independent Newspaper Published Daily And Sunday By Citizens' Voice Inc.

EBERHARD FABER, Chairman of the Board ROBERT J. MANGANIEllO, Secretory FRANK M. CUNIUS, CPATreasurer ROBERT J. MANGANIEllO, Acting Publisher PAUL I GOUA5, Managing Editor Justin O'Donnell, Aiiiitanl Managing Editor, Jomei B. Gittem, Editorial Page Editor, William DeRemer, Day City Editor; Janine Dubik, Night City Editor; Neil Corbelt, Sports Editor; Jerry K.ihbaugh Feature! Editor; Jock Kdley, Chief Photographer ROGER SLATOR.

Production Manoger Charlei Sailus, Compoiing Foreman; Marilyn Franklin, Night Compoiing Foreperson; Robert Stankiewicz Preiiroom Foreman; Barry Clark, Night Preisroom Foreman; Joseph Stokos, Building Superintendent FRANK CUNIUS, CPAController Barbara Pelak, Buiiness Office Manager, Cynthia D. Scalisi, Personnel Manager MARK AITAVULA. Advertising Director Either Mager, Assistant Retail Advertising Manager TKeodora McHugh, Claiiifwd Telephone Sale! Manager SUZANNA SIATOR, Circulation Director Joieph E. Thomas, Distribution Manoger Carl B. Schwab, Zone Manager John McGurk, Mailroom Foreman Volume Nineteen Issue 156 Thursday March 13, 1997 H.HU:W:l:liR Sook both agree that any speculation right now is "too premature." "We are one of about a dozen companies interested in purchasing the station," Sook said.

Abry Communications, based in Boston, is the major investor in Nexstar. It also invests in Sullivan Broadcasting, which focuses primarily in acquiring Fox and UPN network affiliates. Sook said Sullivan did not put in a bid for WBRE. Although (and you only have to look at this market for proof) the FCC allows one company to own several radio stations, TV "duopolies" have only been allowed in situations where one station is a network affiliate and the much stronger of the two, with the second likely being a lower-powered station, like a Warner Bros, affiliate. Daube confirmed this week that officials from Abry recently toured the station, along with get this Sook.

Daube termed the tour "professional." Daube said he alerted his staff to the fact that Abry was an interested buyer and that Sook would be making the tour along with Abry officials. Nexstar has acquired two other TV stations since its purchase of WYOU and is seeking to buy at least two more. But why put in a nod for WBRE, knowing the FCC regulations and the possible legalities? Does Nexstar want to conquer the Wilkes-BarreScranton TV market? "We're in the business of buying TV stations," Sook said. "WBRE is for sale, and we want to evaluate all the op-portunies out there." Daube is quick not to jump to conclusions or make possible scenarios about what could or couldn't happen at WBRE. He pointed out that there are several other potential buyers for the station on the list.

Many persons say it is unlikely that an Abry sale would go through. T'm outa here: Apparently, WBRE I-Team reporter Pete Yaksick is taking nothing for chance and is packing up the bottles of Coppertone and heading to WVIT, Hartford, to work for former WBRE news director Micah Johnson. He will do some weekend anchoring and general assignment reporting there. Yaksick gave his two-week notice to the station this week. After Pete "Tan Man" Yaksick and Bob "These Sand Bags are Hilarious" Wilson, the lone I-Teamer is Andy "Finally Only Me" Mehalshick.

Perhaps, he can figure out the mystery of who slugged Pete at the Woodlands in December. All ServicesHome Delivery 821 -2010 Mon. thru Fri. 6:30 to 5, Sat. 6 to 2 Subscription Information: Sunday 6:00 A :00 P.M.

Home Delivery, DairySunday $2.40 per week. Home Delivery Prepaid $31.20 3 mo. $60.00 6 mo. $1 15.00 per year Motor Route DailySunday $34.50 3 mo. $66.00 6 mo.

$125.00 per year MAIL SUBSCRIPTIONS -DailySunday 1 mo. 3 mo. 6 mo. 1 year Inside Luzerne County $15.00 $44.50 87.00 $170.00 Outside County, Inside Penna. $17.25 $51.00 $10100 $198.00 Outside Penna.

SLIGHTLY HIGHER, PLEASE CALL FOR RATES Postmaster, please send change of address to: DailySunday Citizens' Voice, 75 North Washington St. Wilkes-Barre, PA. 1 871 1 Classified Ads Display Advertising All ServicesCredit Department General News Editorial Dept. Sports 821-2056 821-2068 821-2060 Second Class Postage is paid at Wilkes-Barre, PA. 821-2020 Mon.

thru. Fri. 8 to 5, Sat. 9 to 2 821-2030 Mon. thru Fri.

8:30 to 5 821 -2000 Mon. thru Fri. 8:30 to 5 Features Photographers Obituaries 821-2070 821-2059 821-2100 Produced by members o( the following unioni: Communications Worker! ot America, Local 1 4837ITU 1 87, Graphic Communication! International Union, local 1 37-C, The Newipaper Guild, local 1 20.