At a news conference yesterday, Westinghouse Chair Michael
Jordan spoke of plans to rebuild CBS "and move the beleaguered
network into new business areas like cable television and
international broadcasting." Last week the FCC approved
Westinghouse Corp.'s $5.4B purchase of the network. Although the
management team at CBS will continue to led by Peter Lund, the
future of many CBS division heads was "left unresolved" (Bill
Carter, N.Y. TIMES, 11/29). NBR's Suzanne Pratt said
Westinghouse's decision not to clean house "is all part of an
effort to maintain an atmosphere of civility and continuity, at
least for now" ("Nightly Business Report," 11/28). PaineWebber
media analyst Christopher Dixon: "The model that Westinghouse is
looking to here is clearly GE" ("Moneyline," CNN, 11/28). Lund
said, "Over the next month or so, we want to meet with each and
every division head, hear what their plans are, talk about where
were going and then decide what ultimately what the team will do"
("Business Insiders," CNBC, 11/28). Officials said CBS
programming is "going to have a familiar feel, with few radical
changes planned" (WALL STREET JOURNAL, 11/29). Jordan: "We want
to extend down our demographics, not take a leap away from our
loyal viewing audiences. I think we will never look like a Fox"
(CNBC, 11/28). Full page ads were taken out in the WALL STREET
JOURNAL and N.Y. TIMES promoting "The New CBS."
WHAT'S NEXT FOR SPORTS? In "contrast to the much-
criticized" strategy of former CEO Laurence Tisch, Jordan said
CBS plans to develop cable networks, with news and sports
programming as possible categories (Hall & Hofmeister, L.A.
TIMES, 11/29). On CNBC's "Business Insiders," Jordan said the
network is "going to be a player in sports. As you know we
renewed our NCAA contract." Jordan, on CBS' loss of key sports
properties: "They're going to bring me the bill and say, 'Are
you willing to pony up for that?' ... We'll be a player in every
one of the renewals" (CNBC, 11/29). CNN's Steve Young: "CBS
management says it hopes to regain major sports rights, but
admits it doesn't yet have a sports game plan." ("Moneyline,"
11/28).
