ENTERTAINMENT & MEDIA

Capital Cities/ABC Buyout Offer Cuts ABC Payroll 10%: Capital Cities/ABC Inc. said that about 500 employees have accepted the company’s offer of a voluntary early buyout plan. The buyout was the largest in the six years since the merger that formed the company that owns the ABC television network. Altogether, about 3,000 non-contract employees of the company’s network television group were eligible. Capital Cities/ABC recently said the New York-based media company still faces a difficult advertising climate despite improvements at its ABC subsidiary.