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NETWORK NEWS: CNN TO GET INTO BUSINESS OF BUSINESS TV
Published June 8, 1995
Ted Turner's CNN, "in an ambitious move putting it into head-to-head competition" with CNBC, plans to launch a business news cable channel in January, according to reports in the WALL STREET JOURNAL and USA TODAY this morning. The channel would produce business news from 7am to 7pm on the same satellite now carrying CNN International, meaning that CNN International would be scaled back in the U.S. The CNN business channel "could get a huge boost" from the fact that MSOs such as TCI, Time Warner and Continental Cablevision are members of the Turner board, thus increasing the chances that the new channel will get carriage on numerous cable systems (Brannigan & Robichaux, WALL STREET JOURNAL, 6/8). The channel's tentative name: "CNN Financial Network." CNBC CEO Roger Ailes: "This takes the gloves off for everybody" (David Lieberman, USA TODAY, 6/8). LARRY KING CHATS WITH THE BOSS: Ted Turner was a guest on "Larry King Live" last night. ON BUYING A NETWORK: "There's a good chance that my tombstone may say, 'He didn't get a network.' ... For some reason or another, they don't want to do it [combine with Turner] unless they are in control, and I don't want them to be in control." ON RELATIONS BETWEEN HIM AND CBS: "We're not talking at the present moment. It's not because we're not friendly." ON THE MOTIVATION BEHIND MAJOR MEDIA MERGERS: "Nobody wants to be roadkill on the information highway." ON BASEBALL: "The fans are angry and they have a right to be. They're disgusted, and hopefully there won't be another work stoppage. And they're telling the players and the owners that by not being there. Hopefully, if we work hard and don't disrupt their habits in the future, we can earn them back." ON THE NHL IN ATLANTA: "Maybe, I don't know for sure. We got to get a rink." ON NOT GETTING THE OLYMPICS: "We were discriminated against. The Olympic committee won't let anybody but an over- the-air broadcast that's available to 100% of the people be a bidder" (CNN, 6/7). CBS NEWS: Les Moonves, head of Time Warner's TV group, will become CBS Entertainment President and Exec VP of the CBS/Broadcast Group. Moonves supplants Peter Tortorici, who resigned upon news of the deal. Moonves' hiring is seen as an indication that Tisch may hold on to CBS, "at least until he turns the network around." Moonves: "Tisch has told me that he has no intention of selling, and I take him at his word" (Sallie Hofmeister, L.A. TIMES, 6/8). CBS' Mike Wallace, on Turner: "I think he would do an extraordinary job at CBS. Look, I know that Larry Tisch says it's not for sale, but I have a hunch that it probably is" ("Larry King," CNN, 6/7). VARIETY reports that Barry Diller and Turner are both readying new bids. Max Robins: "While it's certain the ongoing CBS-for-sale drama is like the story of the little boy who cried wolf, let's not forget that the wolf eventually showed up for supper" (VARIETY, 6/5-11 issue).