NETWORK NEWS & NOTES: NEWS CORP. RELEASES EARNING

     News Corp.'s first-quarter earnings from operations rose 7%
as lower earnings from its U.S. TV business were offset by the
box office success of "Independence Day."  The company reported
net earnings of $222M or $.27/American depositary receipt, down
from $227M or $.30/ADR last year.  Fox Broadcasting's earnings
fell because of "poor" performance of "several of its new shows
and losses at Fox Sports" (N.Y. TIMES, 11/12).  The losses at Fox
Sports were "related to its coverage" of MLB and the NFL (John
Lippman, WALL STREET JOURNAL, 11/12).
     THAT'S ENTERTAINMENT: Deciding on a "clear-cut division" of
its industrial and broadcast groups, Westinghouse is expected to
announce it will spin off its industrial operations into a new
company with a separately traded stock.  Westinghouse Chair & CEO
Michael Jordan is expected to focus on the broadcasting
operations and the newly formed company will have separate
management (Timothy Aeppel, WALL STREET JOURNAL, 11/12).