SBD/4/Sports Media

TBS REPORTS 3RD Q LOSSES BUT HIGH OPERATING PROFITS

     Turner Broadcasting System Inc. "sharply lowered" its losses
during the 3rd quarter.  While TBS continued to show a net loss,
the company's operating profit rose to $88M, up 46% from the same
period a year ago.  The company attributed its "overall improved
finances to three factors":  1)  The costs of The Goodwill Games
were behind them; 2)  TBS took a $306M charge for accounting
reasons last year; 3)  Higher ad rates and subscriber fees.  Most
of TBS' segments improved during the quarter.  TBS's news
operating profits were 20%; the Cartoon Network "registered the
best performance in terms of growth in ad revenue and
subscribers."   Overall, TBS' entertainment group saw its
operating profit jump 78%.  Most of the improvement was
attributed to a "decline in the company's cost" of airing NFL
games on TNT.  One weak spot was the Braves.  TBS "suffered" a
$15M operating loss because of the baseball strike (Charles
Haddad, ATLANTA CONSTITUTION, 11/4).  Last night on "NBR," the
quarterly report was characterized differently:  TBS "took a
hit," reporting a $5M loss which the company attributed to the
baseball strike.  TBS stock gained 5/8 (PBS, 11/3).
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