WITH TED'S EYE REPORTEDLY FOCUSED ON CBS, STOCK GOES UP

     CBS Inc. stock "jumped" Tuesday in the wake of the WALL
STREET JOURNAL report that it has held conversations about
selling to Turner Broadcasting System Inc.  CBS stock closed up
$2.50 to $64.50/share (DAILY VARIETY, 3/1).
     WHY CBS IS DECLINING? CNN's "Showbiz Today" looked at the
"dismal programming" at CBS and reports that the "Tiffany network
is on a decline because it has refused to expand into new media
businesses."  Ken Auletta, a media columnist, said that CBS Chair
Laurence Tisch's strategy was "to get out of all the businesses
that CBS was in.  So he sold the record company, sold the
magazine company, sold the book publishing company, sold the
regional sports cable network, and focused all his energy on the
broadcast business at a time when the broadcast business was
entering a period of decline."  Auletta said that NBC, Fox,
Turner, and ABC did "just the opposite," and have broadened out
into other businesses so if there is a downturn in broadcasting,
they will "have some cushion in some of these other businesses"
("Showbiz Today," CNN, 2/28).