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Joe Allbritton, 87, DC media, banking giant, dies

Wednesday - 12/12/2012, 5:22pm  ET

ARLINGTON, Va. (AP) - Joe L. Allbritton, who became one of Washington's most influential men by building media and banking empires, has died at the age of 87.

Allbritton Communications president Frederick Ryan said Allbritton died Wednesday of heart ailments at a hospital in Houston, where he lived.

Allbritton's fortune was self-made, beginning with real estate trades and banking investments. By age 33, he was a millionaire.

His holdings include eight television stations, including WJLA, the ABC affiliate in Washington whose call letters bear his initials. He owned the Washington Star for several years and his son founded Politico.

He also owned Riggs Bank for more than 20 years, including its final years, which were mired in scandal.

He was a fixture on the D.C. social circuit and good friends with Prince Charles.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)