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Recent Articles from Katherine Schulte
Metallica acquires Alexandria records maker
Master of puppets — and now master of vinyl record production, legendary heavy metal band Metallica has acquired a majority interest in Alexandria-based vinyl records maker Furnace Record Pressing. Financial terms of the transaction, which the two entities announced Tuesday, were not disclosed. “We couldn’t be more happy to take our partnership with Furnace … […]
River District Association gives leader a title upgrade
Diana L. Schwartz’s title is changing from executive director to CEO of the River District Association, the Danville downtown revitalization association announced Monday. The title more accurately reflects her role, according to an RDA news release. It has shifted from creating and managing programs for the downtown business community to putting greater emphasis on growing […]
Feds say Chinese cranes used at Port of Va. could be spy tools
The Port of Virginia may have as many as 30 Chinese ship-to-shore cranes that have come under scrutiny from Pentagon officials over national security concerns, and the port has five more on delivery for next year. The cranes made by Shanghai Zhenhua Heavy Industries Co., known as ZPMC, a state-owned company whose major shareholder is […]
Bon Secours names new Maryview hospital president
Shane Knisley will be president of Bon Secours Maryview Medical Center in Portsmouth starting March 13, the health system announced Monday. Knisley joined Bon Secours in 2018, working in its Cincinnati market. He was most recently president of Mercy Health – Clermont Hospital in Batavia, Ohio. Prior to that, he served as chief operating officer […]
Hilb Group acquires Fla. insurance agency
Henrico County-based insurance agency The Hilb Group LLC has acquired E/G of Florida, the company announced Friday. The acquisition took effect Jan. 1. Financial terms of the transaction were not disclosed. “E/G of Florida represents a terrific addition to our company, aligned with our growth strategy by adding greater expertise in vital markets, as well […]
Altria to buy NJOY Holdings for $2.75B
Henrico County-based Altria Group Inc. has entered into a definitive agreement to acquire e-vapor maker NJOY Holdings Inc. for approximately $2.75 billion in cash, with a potential additional $500 million in payments, Altria announced Monday. “We believe we can responsibly accelerate U.S. adult smoker and competitive adult vaper adoption of NJOY Ace in ways that […]
Amazon delays construction on HQ2
Amazon.com Inc. is delaying construction on the second phase of HQ2, its $2.5 billion East Coast headquarters in Arlington County. The news comes as Amazon plans to open HQ2’s first phase, Metropolitan Park, in June, and as the Fortune Global 500 tech company laid off a record 18,000+ workers amid concerns over slowing revenues and […]
TowneBank announces three promotions
TowneBank has promoted two presidents to new roles and appointed a president for its new region, the Suffolk-based bank announced Monday. Robin Cooke now serves as the president of retail banking. She was formerly president of the bank’s Portsmouth/Suffolk region, a role that C. Ross Morgan will fill in addition to maintaining his current role […]
Virginians bet $513M on sports in January
Virginians bet more than $513 million on sports in January, according to data released Wednesday by the Virginia Lottery. Almost $511 million of that revenue came from mobile operators, with the remaining roughly $2 million resulting from casino retail activity in Bristol and Portsmouth, where the state’s first permanent casino opened Jan. 23. Virginia sports […]
Norfolk tech startup plans $1M expansion
Norfolk-based digital magazine startup Magazine Jukebox Inc. (MJB) will invest $1 million to expand, moving from a coworking space into an office, and will create an estimated 20 jobs. Gov. Glenn Youngkin announced the expansion Tuesday. “We are proud that Magazine Jukebox, an emerging leader in the technology services sector, was founded in Virginia and […]
