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Volume 24 No. 117
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     Several analysts cast doubt on the likelihood that Ted
Turner would join forces with Microsoft for a bid at CBS, as
reported yesterday.  Smith Barney's John Reidy:  "This to me just
doesn't click as a rational idea.  You end up with one more large
shareholder and more (TBS) equity going out."  Reidy and others
say a more logical move for Turner would be to join with
Westinghouse and split CBS.  Bankers Trust's Mark McFadden:  "You
have the Group W guys saying, 'What we really know how to do is
operate stations,' and the Turner guys saying, 'What we really
know how to do is operate networks.'  And those two together
would be damn hard for anybody else to knock off" (REUTERS/DAILY
VARIETY, 8/15).  Turner officials have confirmed that they are
seeking to make a counter-bid for CBS (BROADCASTING & CABLE,
     MORE PEACOCK PRAISE:  The weekly trades have weighed in
positively on NBC's purchase of the 2000 and 2002 Olympic Games.
VARIETY's J. Max Robins:  "NBC has made an important investment
in its future, enhancing its brand name and distribution of its
cable networks.  Moreover, it's a move that will strengthen the
network's bond with its affiliates and bring added revenues into
the network's growing group of owned stations" (VARIETY, 8/14-20
issue).  AD AGE's Joe Mandese:  "By anyone's standards, the pre-
emptive bid was a bold, risky move.  But not necessarily unwise."
NBC Cable and Business Development President Tom Rogers:  "The
question shouldn't be, 'What will NBC do next?'  It should be,
'Look at what NBC has done.'"  An AD AGE editorial notes that the
Olympics adds "another major event to NBC's dominance in free
over-the-air TV" and "will aid" cable units CNBC and America's
Talking (AD AGE, 8/14 issue).  BROADCASTING & CABLE's Jim
McConville notes that the deal "buys NBC long-term advertising
market visibility amid escalating network competition" (B&C, 8/14