Honolulu Star-Bulletin Local News
Business Briefs

Reported by Star-Bulletin staff & wire

Monday, August 12, 1996

KITV's owner
says it's considering sale

Argyle Television Inc., the owner of KITV-4, said it is exploring the possibility of selling the company as it considers options to remain competitive.

San Antonio-based Argyle today said that with the consolidation in the broadcast industry, the company will have to become part of a larger group. The company noted that it would be difficult to remain competitive at its current expansion rate.

Argyle owns and operates seven network-affiliated television stations nationwide, including KITV, the local ABC network affiliate. The company purchased KITV in February 1995 from Tak Communications for $51 million.

Bishop Estate buys Connecticut company

The state's largest private landowner has expanded its holdings with the recent purchase of a money management business with nearly $1 billion in assets.

Kamehameha Schools/Bishop Estate joined with Royal Hawaiian Shopping Center Inc., its for-profit subsidiary, to make a deal for Farmington, Conn.-based Bigler Investment Management Co.

Details of the deal are being kept private, said Glenn Hara, vice president of finance for Royal Hawaiian.

Bishop Estate is a nonprofit trust set up by Princess Bernice Pauahi to help educate native Hawaiians. Its holdings are estimated at $10 billion.

For more local, national and international business news,
see the Hawaii Inc. section in today's Honolulu Star-Bulletin.

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