Liberty Sports announced it has created an event management
division -- Prime Sports Event Group -- to develop and coordinate
all activities related to Liberty-owned sports events and series.
Prime Sports Event Group will be based in L.A., and be
responsible for securing events and event series, developing new
events, and managing event production.  The Group will handle
national ad sales while directing regional sponsorships and
promotional opportunities within specific affiliate markets.
Prime Sports Event Group will also be in charge of developing the
Prime Sports Signature Series, creating national distribution for
events originating from Prime Sports' regional network markets.
Don Meek, formerly VP/Event Properties at Prime-Sports West, will
oversee the operation as VP of Prime Sports Event Group.  Meek
said the Group "is based on a comprehensive model that delivers
advertisers a complete array of sponsorship elements, including
TV advertising and promotion, on-site signage, and hospitality."
Meek:  "This integrated approach is a direct response to the
demands on the marketplace" (Liberty).

     The NBA All-Star Game on NBC gained a 12.0 overnight rating,
an 18% improvement from last year.  If the national rating holds
up close to a 12.0, it will be the forth highest All-Star Game
since '74 (Rudy Martzke, USA TODAY, 2/14)....Time Warner's recent
purchases and potential segmentation into smaller divisions is
examined in this week's BUSINESS WEEK.  Time Warner believes that
"segregating" their new cable companies would allow investors to
enjoy the growth potential of a "clean" entertainment company
(BUSINESS WEEK, 2/20 issue).  N.Y. NEWSDAY columnist Allen Sloan
writes of "embattled" Time Warner Chair Gerald Levin: "If I ever
decide to pick a consultant to help me predict Wall Street fads,
I don't think I'll hire Gerald Levin" (WASHINGTON POST, 2/14).

     Hollyowood super-agent Michael Ovitz has reportedly "joined
the growing throng of 'rumored' bidders" for CBS, according to
DAILY VARIETY.  Ovitz's Creative Artists Agency would join three
Baby Bells in bidding for the network.  This comes amid reports
that CBS Broadcast Group President Howard Stringer may leave the
network to "join the venture."  However, an offer by Ovitz "could
be blocked by federal laws restricting Baby Bells' ownership of
entertainment programming."  Media analyst Porter Bibb:  "There
is a lot of wishful thinking on Wall Street about bidding for
CBS.  Nobody is ready to move" (Baltimore SUN, 2/14).