TV One raises $119 million
TV One, the Silver Spring cable network owned by Radio One, NBCUniversal and DirecTV, raised $119 million in a new debt offering. The company did not disclose the intended use of the proceeds in a regulatory filing.
The new funding for TV One comes days after Radio One said it expected to close on $411 million in loans this quarter to refinance existing debt.
The company said in June it would boost its stake in TV One from 37 percent to 56 percent.
Five Guys sales jump 38 percent
Home-grown burger chain Five Guys Burgers and Fries posted the biggest annual increase in sales among all major chains last year, up 38 percent from 2009.
Five Guys started with one location in Arlington in 1986. The chain now has more than 750 restaurants in 40 states and Canada.
Restaurant consulting firm Technomic Inc. says the overall sales growth rate among the 500 largest chains was 1.8 percent. The top 500 chains had 2010 sales of $234 billion, up more than $4 billion from 2009.
Capital One pulls chimp ad
Capital One Financial Corp. has pulled a television commercial that featured a chimpanzee and says it will not use primates in any future ads.
The McLean company says the decision was made after reviewing information from PETA about the treatment of apes used in advertising.
“We believe you have made profound and compelling arguments about the treatment of primates,” Capital One said. “The ad in question is going off the air and we will not use primates in future advertising.”
The commercial did not air in the Washington market.
People for the Ethical Treatment of Animals claims chimps and other great apes used in advertising are typically forcibly taken from their mothers shortly after birth and are physically and psychologically abused as part of their training.
It says 10 of the 15 largest advertising agencies prohibit the use of great apes in their advertising campaigns.
