CBS Has Deal To Stream NFL Games Mavericks Struggling On Court, In TV Ratings LeBron Happy With Latest SI Award "GameDay" Draws Highest Audience Since '07 Media Notes SI Names LeBron Sportsperson Of The Year NBC Signs Eight-Year Deal With USA Track & Field Adam Schefter Signs Five-Year Extension With ESPN ESPN: Sub Losses Don't Include New Outlets NFL Viewership Down Among Older Viewers
WELL, WE'RE WAITING ... NO BID YET OUT OF WESTINGHOUSE
Published July 27, 1995
The Board of Westinghouse Electric Corp. ended their meeting Wednesday without an announcement on a possible takeover bid of CBS Inc., according to REUTERS. However, one sources close to the situation said a bid could happen by Friday (Sue Zeidler, REUTERS/DAILY VARIETY, 7/27). The L.A. TIMES' Bates & Hofmeister examine Westinghouse's motivation for making a play at CBS: "The idea is to bulk up the area of greatest profitability and stability in the television business, which is station ownership, and perhaps bring in a minority strategic partner after an acquisition is complete that can make investments in programming necessary to revive the network." Mentioned as possible investors: Turner, Seagram's MCA, Sony and Disney, with Sony perhaps the "most willing" since foreign ownership rules would dictate a minority share (L.A. TIMES, 7/27). The N.Y. POST's John Durie writes that CBS Chair Laurence Tisch stands to gain $1.03B in profit from the deal, which could have been more if CBS had diversified into cable or other forms of multimedia (N.Y. POST, 7/27). STOCK WATCH: Westinghouse was up 1/4 to 13 7/8. CBS closed at 75 1/4, down 3/8. OTHER NETWORK NEWS: The FCC is expected to approve tomorrow an exemption for Rupert Murdoch's News Corp. from foreign ownership restrictions, formally ending the two-year legal battle over Fox's TV stations (N.Y. TIMES, 7/27)...NBC "may seek a stake" in either Hong Kong-based Television Broadcasts Ltd. or its largest shareholder, Shaw Brothers Ltd, which holds 23.5% of TVB (WALL STREET JOURNAL, 7/27).