BROADCAST NEWS: WESTINGHOUSE BUYS AMERICAN RADIO FOR $1.6B
Westinghouse Electric Corp. agreed to buy American
Radio Systems Corp. for $1.6B, plus the assumption of $1B in
debt, according to Aeppel & Bulkeley of the WALL STREET
JOURNAL. The move adds 98 stations to Westinghouse, giving
it a total of 175 stations (WALL STREET JOURNAL, 9/22).
ONE EYE OPEN: In N.Y., Jon Elsen wrote "the race is on
to eventually succeed Michael Jordan" as CBS Chair, with CBS
Station Group Chair Mel Karmazin and CBS TV Chair Les
Moonves potential successors (N.Y. POST, 9/22). Elsen
profiled Jordan in Sunday's N.Y. POST and wrote, "While CBS
is not for sale, many think it would be an attractive
target." Elsen: "Some think Microsoft or others might back
Barry Diller in an acquisition of CBS (N.Y. POST, 9/21).