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To: Victor Lazlo who wrote (70799)	7/30/1999 8:33:00 AM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

CBS <CBS.N>names head of Gates foundation to board NEW YORK, July 29 (Reuters) - CBS Corp. said the chairman of Bill Gate's philanthropic foundation Patty Stonesifer, 43, will join the media company's board, effective December 1. Gates, the chairman of Microsoft Corp <MSFT.O>, hired Stonesifer to run the foundation after she was a senior vice president at the software giant, managing education and consumer software investments, and new online content and service. David McLaughlin, CBS chairman, said in a prepared statement that Stonesifer's "distinguished background in the world of new media will be invaluable to the corporation as (CBS chief executive) Mel (Karmazin) and his team increase our presence in that important area." In recent months, CBS has been leveraging its position as a one-stop advertising giant covering several different media to acquire stakes in a variety of Internet companies. One week ago, CBS -- which is in the process of acquiring billboard company Outdoor Systems Inc <OSI.N> for $8.3 billion -- said it will buy a 20 percent stake in privately-held online drugstore Rx.com in exchange for $37.5 million worth of advertising. Under the deal, Austin, Tex.-based Rx.com will be able to advertise for four years on CBS television and radio networks and affiliates, as well as on the CBS's outdoor advertising properties. CBS owns more than 80 percent of Infinity Broadcasting Corp. <INF.N>, has its its existing TDI billboard business that will be integrated with Outdoor Systems, and owns 14 television stations that are affiliated with the CBS television network. "As the computer and the Internet take ever more dynamic roles in the home," Karmazin said, "we will continue to grow our role in the new media that deliver content to our many audiences. In that regard, we look forward to the new dimension Patty's thinking will bring to our board." Stonesifer also serves on the boards of Amazon.com Inc. <AMZN.O>, Alaska Air Group Inc. <ALK.N>, Kinko's Inc., The Seattle Foundation and the YWCA of King County. . REUTERS Rtr 16:14 07-29-99