Westinghouse Will Reduce Cbs Debt

Tue., Sept. 16, 1997

From Staff And Wire Reports

Westinghouse Electric Corp. plans to use some of the proceeds from the $2.56 billion sale of its refrigeration business, Thermo King, to reduce the $6.2 billion worth of debts it took on to buy CBS and radio stations.

Some of the money also may be used to fund employee pensions or buy more media companies, Westinghouse spokesman Jack Bergen said Monday.

Ingersoll-Rand Co., which is paying cash for the business, expects to benefit from Thermo King’s large overseas network as it seeks to diversify its equipment-making operations.

Westinghouse plans to split this fall into two companies - CBS Corp., based in New York, and Welco, an electric-power systems company in Pittsburgh. If Thermo King had not been sold before the split, it would have been attached to CBS.

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are tax deductible.

Meet Our Journalists

Jesse Tinsley

Meet Jesse Tinsley. As a certified drone pilot, this veteran Spokesman-Review photographer often can be seen capturing beautiful aerial photographs of our region. Sometimes though, the job requires getting down with the dogs.
Jim Meehan

Jim Meehan is no stranger to Zag Nation. As the lead writer covering the Gonzaga men’s basketball team, he tells the stories behind the game and gets fans a bit closer to their favorite players.
Molly Quinn

There is no artist in Spokane like Molly Quinn. Her whimsical style is instantly recognizable to readers of The Spokesman-Review. She has painted gorgeous illustrations that instantly elevate the journalism accompanying it. She brings to life the stories that defy photography. She makes our pages better.
Rob Curley

Spokesman-Review editor Rob Curley loves to talk with people and learn about their lives, whether it's a best-selling author or a stranger he meets downtown on his walk to lunch. It's that inquisitive nature combined with a playful sense of storytelling that helps make our newspaper different than most.

Westinghouse Will Reduce Cbs Debt

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

Supreme Court justices skeptical of Trump order to restrict birthright citizenship

Why one Barbie Dream Fest was anything but fabulous

US traffic deaths fall to lowest number since 2019