COMPANY TOWN ANNEX

Cap Cities Will Stay in New York: Capital Cities/ABC Inc. said it has struck a $26-million agreement with city and state officials to keep the television company’s headquarters in New York City for the next 15 years. Under the agreement, Cap Cities will spend more than $150 million to convert its television production facilities to digital and high-definition technologies. ABC said it employs 3,700 people in its New York broadcast operations and will add 185 workers in the city over the next two years. Similar to deals struck between local government and other networks, the ABC deal gives the company $12 million in sales tax abatements on equipment purchases and $14 million in energy savings over 15 years.