NEW ATLANTA ARENA CLOSE TO NAMING RIGHTS DEAL WITH PHILIPS

          TBS is expected to announce soon that Philips
     Electronics has signed a marketing partnership which
     includes naming rights to the new downtown arena, according
     to the SPORTSBUSINESS JOURNAL and the ATLANTA CONSTITUTION. 
     The SPORTSBUSINESS JOURNAL's Liz Mullen reports in Monday's
     issue that the deal is "believed to be the richest naming-
     rights deal yet," as Philips is "preparing" to pay $150M-
     185M over 20 years.  The deal would also include a
     relationship with Time Warner's media properties
     (SPORTSBUSINESS JOURNAL, 2/1 issue).  Philips' Mary Gordon
     told Unger & Saporta of the ATLANTA CONSTITUTION that, "We
     are not able to make a statement or an announcement at this
     time."  Philips has "about" 300 employees in GA and its
     Atlanta presence "is expected to grow" (AC, 1/29).