NEWS CORP. CONCLUDES DEAL WITH NEW WORLD FOR STATIONS

     News Corp. has bought New World Communications in a stock
swap deal worth approximately $2.5B.  The deal makes Rupert
Murdoch the largest owner of TV stations in the U.S.,  with Fox
owning TV stations reaching at least 35% of the U.S. audience.
Fox Entertainment Group President John Matoian:  "We've had a
brand that has been identifiable and strong throughout.  We can
now extend that influence of that brand across 10 very new
substantial markets and whenever you can keep branding yourself
and keep that identity strong in a viewer's mind, it just helps
you."  Media Analyst Arthur Rockwell, on Murdoch:  "Obviously
he's over paying, but it was a preemptive strike.  If he didn't
do it now, he might have lost his opportunity" ("Moneyline," CNN,
7/17).
     NETWORK REACH:  Fox now has 22 stations reaching 35% of the
U.S.; Westinghouse/CBS has 14 reaching 31%, Tribune Co. has 16
reaching 25%; GE/NBC has 11 reaching 25%; and Disney/ABC has 10
reaching 24% (WASHINGTON TIMES, 7/18).