This week, CBS is expected to renew its U.S. Open tennis
contract at a figure less than the $35M a year sought by the USTA
(Rudy Martzke, USA TODAY, 9/11). One CBS exec calls the USTA's
asking price "outrageous and offensive." Phil Mushnick notes,
"CBS might be vulnerable, but it ain't stupid" (N.Y. POST, 9/11).
Time Warner Chair Gerald Levin flew to Denver over the
weekend to meet with TCI Chair Jonh Malone in an attempt to break
the "logjam" in the merger talks between Time Warner and Turner
Broadcasting, of which Malone holds a 21% stake, according to
today's ATLANTA CONSTITUTION. There was no indication that the
meeting "helped" (Unger & Haddad, ATLANTA CONSTITUTION, 9/11).
The N.Y. TIMES notes that Levin's failure to close the deal
yesterday "seemed to raise the specter that the effort could
collapse" (Geraldine Fabrikant, N.Y. TIMES, 9/11). The N.Y. POST
also notes fears that "the longer the negotiations carry on, the
less chance a deal will be done" (Greg Clarkin, N.Y. POST, 9/11).