TOP FTC STAFFERS RECOMMEND AGENCY BLOCK TIME WARNER/TBS DEAL

     Top officials at the FTC have formally recommended blocking
Time Warner's $7.5B purchase of Turner Broadcasting "unless the
companies agree on measure to resolve antitrust concerns,"
according to Gruley & Shapiro of the WALL STREET JOURNAL.  While
"not surprising, the recommendations suggest settlement talks
between the government and the companies are drawing to a close,"
and adds "pressure" on the companies to show regulators that a
combined entity would not overpower the cable TV and programming
business.  A main sticking point is TCI, as it owns 21% of TBS
and would hold about 9% in the new entity (WALL STREET JOURNAL,
7/10).