Virginia Businesses in the News


Mergers and Acquisitions

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For the Record is compiled from company releases, business journals and newspaper reports from around the state. If you have an item for these listings: • Mail it to: For the Record Virginia Business Magazine P.O. Box 85333 Richmond, VA 23293 • E-mail it to ForTheRecord@va-business.com • Fax it to (804) 649-6311

MeriStar Hospitality Corp., an Arlington-based hotel investment firm, acquired a stake in the Radisson Lexington Hotel in New York City. A $50 million investment secured a 49.99 percent equity share in the 705-room Manhattan property. The deal reflects MeriStar's focus on properties in urban areas and provides entry into the Manhattan market. (Business Wire)

Online Resources Corp., a McLean provider of outsourced Internet banking and payment services, bought Incurrent Solutions Inc. of Parsippany, N.J. in a $15 million cash and stock deal. Incurrent, an Internet application service firm, provides card member care services branded to individual credit card issuing institutions. Online aims to bring together Incurrent's expertise in card-based financial services with its real-time payment services and consumer marketing capabilities. (Business Wire)

Eure Communications Inc., an owner and operator of radio stations in Charlottesville, sold its three stations to Saga Communications, a Grosse Pointe Farms, Mich. media conglomerate. The stations, WINA-Am, WWWV-FM, WQMZ-FM, are the last locally owned stations in the Charlottesville area. (The Daily Progress)

Smithfield Beef Group, a subsidiary of meat products provider Smithfield Foods Inc., acquired MF Cattle Feeding Inc. from ConAgra Foods Inc., a set of feeding lots in Colorado and Idaho. The facilities, which will be operated by Smithfield's Packerland subsidiary, address the company's cattle procurement operations west of the Mississippi River. (Press release)