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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: Glenn who wrote (45470)	5/26/1999 12:56:00 AM
From: Tim Luke	Read Replies (1) of 90042

CBS Unit 'Pursuing Talks' to Buy Outdoor Systems, CNBC Says Bloomberg News May 19, 1999, 10:34 a.m. PT New York, May 19 (Bloomberg) -- CBS Corp.'s Infinity Broadcasting Corp. is ''pursuing talks'' to buy Outdoor Systems Inc., financial news network CNBC reported, citing unidentified people close to the companies. The two companies are talking now because Outdoor Systems indicated it may be willing to ''bend'' on what had been an asking price of $35 a share, the unidentified people said. If there is an agreement, it may not be that far above Outdoor System's current share price, CNBC said. CBS owns an 82 percent stake in Infinity, a billboard and radio company.

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