SBD/10/Franchises

ITT COULD MAKE DECISION ON BREAK UP SOON

     ITT Corp. reportedly plans to make a decision in the "very
near future" about a previously announced plan to consider
breaking up into three separate companies.  Analysts believe that
the long-awaited split of ITT's hotel/entertainment,
manufacturing and insurance segments would "boost" the company's
overall value.  Since "growing speculation about the breakup and
in response to the company's strong earnings" in mid-December,
ITT's shares have "shot up" more than 30%.  Analysts and
investment bankers speculate that the announcement could come as
soon as the company's board meeting on June 13.  ITT's recent
purchase, through a partnership with Cablevision, of Madison
Square Garden, the Knicks, the Rangers and MSG Network would be
included in the hotel & entertainment segment.  ITT CFO Robert
Bowman is expected run the entertainment company on a day-to-day
basis (Eben Shapiro, WALL STREET JOURNAL, 5/10.
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