With the media world focused on Atlanta, CBS "quietly has
rung up several major ad deals" for its coverage of the '98
Nagano Games, according to Langdon Brockinton of INSIDE MEDIA.
Sources say that Nike and Toyota have signed with CBS, joining
Nissan, Ford and Chrysler. In addition, CBS is close to a
"sizable" deal with an unnamed Olympic sponsor. With Toyota, CBS
has now sold all its inventory for the domestic and foreign auto
categories, with Ford and Chrysler said to be splitting $100M and
Toyota and Nissan combining for about $25M. Those figures are up
from the $80M total in auto spending for the Lillehammer. CBS is
projecting a primetime average rating of 19.7 (INSIDE MEDIA, 6/20
issue).
WESTINGHOUSE DIVIDED: Westinghouse Electric Corp., whose
acquisition of CBS "hasn't lifted the stock as high as expected,"
is considering a split of its broadcasting and industrial
businesses, according to the WALL STREET JOURNAL. Analysts said
creating a separate company or a special stock for broadcasting
are both possible (Norton & Jensen, WALL STREET JOURNAL, 6/11).
Westinghouse stock was up 7/8 to 19 5/8 on the news. Analyst
Mark Boyer, on one risk: "There's always the possibility again
that somebody that wants to come in and buy a company that's just
in broadcasting might take another shot at CBS" ("Moneyline,"
CNN, 6/10).
