Franchises

MSG HOLDINGS HELP ITT'S EARNING RISE

7.26.1996

     Improved performance at MSG Network helped ITT Corporation's
investment in Madison Square Garden earn $18M in earnings before
interest, taxes, depreciation and amortization in the second
quarter, a 50% improvement from the '95 quarter.  Overall, ITT
announced a second quarter net income of $96M, earning $.81 cents
per share -- up 45% over '95's $67M and $.56 per share (ITT).

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