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TISCH SAYS CBS IS NOT FOR SALE; HOW ABOUT A PARTNER?
Published May 11, 1995
CBS Chair & CEO Laurence Tisch "said that despite constant rumors he is discussing a sale of CBS, the network isn't for sale," according to Elizabeth Jensen of the WALL STREET JOURNAL. Tisch made the comment to reporters immediately after CBS' annual shareholders meeting. Jensen notes, "Tisch's pronouncements have caused skepticism before, however" (WALL STREET JOURNAL, 5/11). In comments to the L.A. TIMES, Tisch "drew a distinction between outright sale of the network and a possible merger." Dillon Reed media analyst Ed Atarino: "I think Wall Street has been too quick to say Larry wants out. I believe he does want to effect a change in the structure of CBS. But he may not want out -- he may want help in the form of a partner" (Jane Hall, L.A. TIMES, 5/11). Ted Turner and Barry Diller, among others, have been mentioned as CBS suitors.