Westinghouse Electric Corp. has agreed to acquire American Radio Systems for $1.6 billion in cash and the assumption of $1 billion in debt. The deal will give Westinghouse's CBS Radio unit the most stations in U.S.
Foot Locker is said to be in talks with Arnold Communications, Boston, and Deutsch, New York, for its $25 million account. Merkley Newman Harty, New York, may also be chatting with the retailer. Bates USA, New York, is the incumbent.
Timberland Co. to Martin Agency, Richmond, Va., from in-house, for its $15 million account.
Century 21 Real Estate Corp. to Arnold Communications, Boston, from Campbell Mithun Esty, Minneapolis, for its $40 million creative account.
Publishers Information Bureau reported drugs and remedies was the fastest growing ad category for magazine spending from January through August, up 32.8%, to 7,015 pages.
Copyright September 1997, Crain Communications Inc.