REEBOK ANNOUNCES CUTS OF 500 JOBS IN RESTRUCTURING

          Reebok plans to cut 500 administrative jobs in the
     first quarter, or 10% of its work force, "as part of a
     multimillion-dollar restructuring to reduce costs,"
     according to a wire report in the BOSTON GLOBE.  It was
     "unclear where the cuts would fall."  Reebok President
     Robert Meers said the MA-based company wants a "more focused
     organization."  Meers: "This is a year of execution, not a
     year for broad-based marketing" (BOSTON GLOBE, 2/5). 
          RESULTS: News Corp. said net profit rose 23% in its
     second fiscal quarter ended December 31, '97.  Net profit
     rose to $396M, or $.41 a share, from $321M, or $.40 a share
     a year earlier.  In other news, CBS' media holding had a
     $10M loss in the quarter ended December 31, "an improvement
     compared" with a $63M loss during the same period a year
     ago.  Sales for the quarter jumped to $1.47B from $1B (WALL
     STREET JOURNAL, 2/5).  On "The Edge," CNBC's Sue Herrera:
     "Better but not good enough for CBS" (CNBC, 2/4).