ESPN Viewership Slightly Lower In Q2 Pistons Flagship Dumps Sports Format ESPN Didn't Have Much Say On CWS Finale Start USOC Revokes Media Credentials For FloSports NBC Plans Record Amount Of Olympic TV Spurrier Could Land SEC Net Role Media Notes Univision, FS1 Set Records With Copa Finale Rogers Cuts Staff, Changes "HNIC" Hosts Social Studies: Orlando City SC's Stuart Drew
FIGURES IN THE EYE GIVE THE OK TO WESTINGHOUSE SALE
Published November 17, 1995
CBS Inc. stockholders voted two-to-one yesterday to sell the broadcasting company to Westinghouse Electric Corp. for $5.4B. Under terms of the deal, Westinghouse will acquire all of the outstanding shares of CBS for $81 a share in cash. At the meeting, several shareholders criticized CBS Chair Laurence Tisch for his management of the network. Tisch defended his record saying "he regretted not one of his deals he did during" his eight years of running the company (Michael Connor, REUTERS/DAILY VARIETY, 11/17). Tisch added selling CBS' magazine division was the "right thing to do." Tisch: "Why magazines have become so important when they're such a terrible business, I'll never understand." The Westinghouse deal still needs FCC approval before it is finalized (WALL STREET JOURNAL, 11/17).