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Thursday, November 10, 2011

Former Cap Cities CEO Dan Buke Dies at 82

The cause of death was complications from Type 1 diabetes. Burke was an executive with Capital Cities Broadcasting for 33 years. In the 1980's Burke helped engineer the purchase of ABC by Capital Cities, considered to be a very risky move at the time. He went on to become President of the merged company. He retired in February of 1994.

The ABC purchase was for $3.5 billion. At the time ABC was a bigger company than Cap Cities. Warren Buffet helped finance the purchase. It was the largest corporate deal outside the oil industry according to the New York Times.

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