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CBS STOCK REBOUNDS AFTER TAKEOVER REPORT
Published May 1, 1995
CBS, Inc. stock "jumped" on Friday after reports that CBS
Chair & CEO Laurance Tisch was negotiating to sell his stake in
the company to Westinghouse Electric. CBS closed up 3 1/4 at 64
3/4 on the NYSE. CNBC commentator Dan Dorfman had reported that
Westinghouse would offer about $80 a share for CBS stock. Rob
Morrow, a Westinghouse spokesperson, said the company "doesn't
speculate on rumors or speculation" (N.Y. POST, 4/29).
NO CHANGE AT FOX? ELECTRONIC MEDIA is reporting that the
FCC is all but "scrapping a plan to make Fox restructure and
instead may give Rupert Murdoch a foreign ownership waver" (AD
AGE/ELECTRONIC MEDIA, 5/1 issue).
