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  • BROADCAST NEWS: TURNER GETS TIME WARNER'S O.K. FOR NBC BID

         Time Warner has given its "blessing" to TBS President Ted
    Turner for an "expected" direct bid to buy NBC according to a
    report in USA TODAY.  Time Warner has pulled out of the bidding
    for NBC but retains veto rights over a Turner deal.  GE
    reportedly wants $6B for the network, NBC's seven O&O's and the
    cable channels CNBC and America's Talking.  GE CEO Jack Welch
    wants to keep 51% control of NBC.  Turner could cut the $400M
    operational costs by "blending" news and entertainment resources
    with NBC, but a potential Turner bid will face "complications"
    with federal laws prohibiting TBS' cable operators from owning
    over 5% of a net.  Time Warner has proposed trading TBS shares
    for "control" of Turner properties but has yet to agree on a
    price (Lieberman & Dorfman, USA TODAY, 10/25).
         CAPITAL INCREASE:  Cap Cities/ABC reports a 71% profit
    increase to $133.7M for the third quarter.  Profits increased "in
    the wake of another impressive performance" from network and
    cable efforts and a "still-favorable" advertising climate.
    Broadcasting revenues climbed 13% and operating income "soared"
    67% under cost control measures (Patrick Harverson, FINANCIAL
    TIMES, 10/25).  Goldman, Sachs analyst Barry Kaplan predicts
    "pretty clear sailing for the foreseeable future" and believes
    Cap Cities is "benefitting from the improved general climate for
    the industry."  Cap Cities/ABC shares closed yesterday at
    $77.625, up 50 cents (WALL STREET JOURNAL, 10/25).
         BRINGING GE'S DEALINGS TO LIGHT:  A federal price-fixing
    trial begins today against GE.  The Justice Department's
    antitrust suit contends GE "tried to increase profits in its
    industrial diamonds business by bidding up prices in concert"
    with Swiss competitor De Beers Centenary A.G (Richard Ringer, NEW
    YORK TIMES, 10/25).
    

    Print | Tags: ABC, NBC, Media, TBS/TNT, Time Warner, Walt Disney
  • MEDIA NOTES

         In this week's AD AGE, a list of 100 top grossing magazines
    includes Sports Illustrated (4), Golf Digest (33), Golf Magazine
    (59) and Sporting News (86) (AD AGE, 10/24 issue)....WMAR-TV
    Channel 2 in Baltimore has decided to air the Baltimore CFL's
    last regular season game on November 5 in an effort "to make the
    station more attractive to football advertisers next fall"
    (Baltimore SUN, 10/25). ....In New York, Bob Raissman writes that
    ESPN and Fox both exercised a "double standard" over the report
    of Raiders coach Art Shell calling QB Jeff Hostetler a "white so-
    and-so."  ESPN "soft-sold" Chris Mortenson's report and Fox
    "buried its head in the sand" by choosing to ignore it altogether
    (N.Y. DAILY NEWS, 10/25)....SportsChannel New York has acquired
    the rights to televise the Japanese World Series.  The games will
    be broadcast on a tape-delayed basis starting October 30.
    Announcers Ken Harrelson and Tom Paciorek will provide voice-
    overs (SportsChannel NY).
    

    Print | Tags: CFL, ESPN, News Corp./Fox, Oakland Raiders, Sports Illustrated, Media, Time Warner, Walt Disney
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