Capital Cities Communications reached an agreement to...

Capital Cities Communications reached an agreement to sell a radio station in Buffalo, N.Y., to Queen City Broadcasting for $65 million . . . Shareholders of Walker Scott Corp., which operates 12 department stores in Southern California, agreed to sell their interests for $4.9 million to a group of private investors led by Harold Kapelovitz, owner of Desmond’s, which sells men’s and women’s apparel. . . The British government’s $608-million sale of its remaining 49% stake in Britoil PLC was oversubscribed, officials said. . .Mary Kay Cosmetics said it closed its $23-million sale of about 43.7 acres of Dallas land and its $9.5-million sale and lease-back of three distribution centers in California, Georgia and Illinois . . .Nissan announced an average base model suggested price increase of $91 per vehicle, or 1%, for its 1986 Sentra, Pulsar, Stanza and Maxima models . . .Fremont, Calif.-based Optical Specialties. citing weak conditions in the semiconductor equipment industry, said it laid off 35 of its 190 employees.