Many reports over the weekend note that Ted Turner is back
in discussions with the Big Three networks for a possible merger
or another venture with Turner Broadcasting. Last week, Turner
met with top execs from each of the major networks, NBC, CBS and
ABC. And according to BLOOMBERG BUSINESS NEWS, a number of
scenarios are being "bandied about." One would include the
combination of Turner, NBC and some parts of TCI. One of the key
reasons Turner is again speaking with the networks is that Turner
Broadcasting and TCI are getting closer to settling on a price
for buying Time Warner's 19.4% stake in Turner (N.Y. POST, 2/25).
FOX WOES: In a development that could mean "new legal
trouble" for News Corp. Chair Rupert Murdoch, a top federal
regulator said that he had not known in '85 that News Corp.
controlled 99% of the equity in six TV stations that Murdoch
acquired to launch the Fox network. As a result, "it breathes
new life into the FCC's current investigation" of Murdoch,
according to Edmund Andrews of the N.Y. TIMES. The federal
regulator, Roy Stewart, said he thought Murdoch, who was about to
become an American citizen, was going to own the stations, not
News Corp. (N.Y. TIMES, 2/25).
TIME WARNER: Sunday's N.Y. TIMES reports that Time Warner
Chair Gerald Levin is "campaigning hard" for shareholders'
confidence so that he can avoid the fate of CEO's of other
companies who have been forced from their job after the
companies' stock lagged (N.Y. TIMES, 2/26).
BLACK EYE AT BLACK ROCK: David Letterman on Howard Stringer
leaving CBS: "Why would anybody want to leave the Titanic? I
have no idea" ("Late Night," 2/24).
