With the news that CBS was "soundly beaten" as it came in
third in the net ratings reports its stock finished down 8 1/4
points ("Business Insiders," CNBC, 9/28)....NBC Sports announced
that it reached a multiyear agreement to continue televising the
Bayou Classic football game, between Grambling State and Southern
University (THE DAILY)....PRIME announced a College Hockey Game
of the Week schedule that includes 25 games from four
conferences: CCHA, Hockey East and the ECAC. The package
includes post-season tournaments (THE DAILY)....ESPN announces
today an "interactive sports entertainment center," possibly
called ESPN World, at Disney World in FL. Patrons can watch
about 50 TV screens -- or see ESPN create programming on-site
(USA TODAY, 9/29)....CBS Sports announced the addition of two
nights of prime-time figure skating, featuring Nancy Kerrigan and
Oksana Baiul. The event will be shown on Nov. 9 or 10 as well as
Nov. 12 from the Nassau Coliseum. The November dates could
"provide maximum impact during the network sweeps period in
November" (Richard Sandomir, N.Y. TIMES, 9/29).
A study shows that CBC-TV made money broadcasting pro
sports, according to CBC VP of Finance Steve Cotsman. The CBC
prepared the study "after controversy broke out over CBC spending
on sports." In July, rival network CTV released a report
claiming CBC was losing millions of dollars each year on sports
programming. CTV claimed sports represented 10% of CBC
programming hours, but 27% of direct programming expenditures.
But Cotsman told a House of Commons committee that the CBC spent
C$105M -- or 12.1% of its C$872M budget -- on sports in '93-94.
The public network receives C$950M from the Canadian treasury
(EDMONTON JOURNAL, 9/29).
Blockbuster Entertainment shareholders meet in Ft.
Lauderdale today to vote on the company's proposed merger with
Viacom. Analysts expect the deal to be approved with 22% of
Blockbuster stock committed to the deal. Management needs to win
about a third of the uncommitted shares to win the vote. Craig
Bibb, Paine Webber media analyst: "95% of all deals recommended
by the board happen" (Don Finefrock, MIAMI HERALD, 9/29). Viacom
and Blockbuster stocks were "among the most active" stocks
yesterday. Blockbuster stock closed +3/4 to 28 1/8 while Viacom
B stock was +1 3/4 to 38 3/4 ("Business Insiders," CNBC, 9/28).