SBD/8/Sports Media

NETWORK NEWS: CNN TO GET INTO BUSINESS OF BUSINESS TV

     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).
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Cablevision, CBS, NHL, Media, Time Warner, Viacom

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