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Volume 24 No. 158
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     NBC retains an option to buy a "significant minority stake"
in Madison Square Garden as part of the ITT Corp/ Cablevision
Systems acquisition of MSG holdings from Viacom.  NBC signed off
on Cablevision's investment and "could decide as soon as October
whether to join the MSG partnership."   One exec close to the
deal says "NBC's involvement would significantly enhance the
value of MSG to its new owners" and that ITT/Cablevision would
benefit from the experience of NBC Sports.  The joint venture
could also help NBC's portfolio, "especially its flagship TV
station," WNBC-NY.  NBC's stake in MSG could lead to a combined
broadcast and cable TV schedule that would put certain games on
WNBC and others on cable (Joe Mandese, ADVERTISING AGE, 9/12