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This week, CBS is expected to renew its U.S. Open tennis contract at a figure less than the $35M a year sought by the USTA (Rudy Martzke, USA TODAY, 9/11). One CBS exec calls the USTA's asking price "outrageous and offensive." Phil Mushnick notes, "CBS might be vulnerable, but it ain't stupid" (N.Y. POST, 9/11).
Time Warner Chair Gerald Levin flew to Denver over the weekend to meet with TCI Chair Jonh Malone in an attempt to break the "logjam" in the merger talks between Time Warner and Turner Broadcasting, of which Malone holds a 21% stake, according to today's ATLANTA CONSTITUTION. There was no indication that the meeting "helped" (Unger & Haddad, ATLANTA CONSTITUTION, 9/11). The N.Y. TIMES notes that Levin's failure to close the deal yesterday "seemed to raise the specter that the effort could collapse" (Geraldine Fabrikant, N.Y. TIMES, 9/11). The N.Y. POST also notes fears that "the longer the negotiations carry on, the less chance a deal will be done" (Greg Clarkin, N.Y. POST, 9/11).