What's Ahead For Park's Empire?
The death of Roy Park, 83, has thrown into question the future of his media empire. Park Communications in Ithaca, N.Y., owns eight TV stations plus a string of 22 radio stations and 144 small-town newspapers. Its revenues are about $160 million. Park, who helped coordinate Thomas Dewey's 1948 Presidential campaign and co-founded the Duncan Hines food business, started buying media properties in the early 1960s. He owned 89% of Park Communications and has no children working in the company. Park stock jumped 11% on the news, to 23 1/8. A spokesman says details of the estate are not yet public, but adds that Park wanted to keep the company intact after his death.