BROADCAST NEWS: FOX, BASEBALL BITE INTO THE BIG THREE
Published March 3, 1995
Network revenue for ABC, CBS and NBC fell 3.6% in the 4thQ to $2.15B from $2.23B as the baseball strike, the loss of football and lower revenue from children's programs "deflated results," according to the Broadcast Cable Financial Management Association's quarterly report. Network revenue rose in every category except sports and children's programming during the 4thQ. The Association only measures the Big Three's revenues. The report noted that the lost revenue was due to Fox's foray into football and children's programming (WALL STREET JOURNAL, 3/3). IN WASHINGTON: President Clinton's telecommunications adviser Larry Irving told the Senate Commerce Committee that the administration favors allowing "unfettered foreign investment" in U.S. telephone and other telecommunications businesses, but "draws the line when it comes to easing rules that bar foreigners from owning more than 25% of broadcasting properties" (DAILY VARIETY, 3/3). BALCK HUMOR AT BLACK ROCK: David Letterman: "My name is Dave. You are watching CBS. By the way, would you like to buy this network?" ("Late Show," CBS, 3/2).