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Technology Stocks : VIAB (Viacom Class B shares) formerly CBS -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (3279)	1/31/1999 2:41:00 PM
From: John M Connolly	Read Replies (1) \| Respond to of 4613

Hi Larry: For all the speculation things are too quite at CBS IMO. I would not think that any grass is growing under Mel's feet - and his record is of a successful wheeler dealer. Here is Atlanta there is hope that the Falcons will win the game - you have to agree it is their time after 23 years of trying. This post was on the Yahoo thread , and while most of the posts there are junk - thisone has some interest. Good Article on TV by: Usedtobe1 5989 of 5998 I'm not sure how to show the link, but this month-old article is still applicable. I attached an excerpt from the article (too big to paste in one message). I believe Mel knows he has to something. Whether it's something akin to the TWX spin-off rumor, or just "repurposing" itself, I believe something will happen soon. earningswhispers.com Indeed, late last year two networks, NBC and Fox, removed their head programmers, replacing them with executives who built their careers at cable channels. Those moves were widely interpreted as the first sign that the broadcast networks have to adopt a "can't-beat-'em-join-'em" strategy. At Fox at least, where the new president of entertainment, Doug Herzog, is arriving ...... He also underscored his confidence that Fox was the place to be for the future of network television because of the carefully assembled assets of its parent, News Corp. It has brought all the production functions inside the company, achieving what is called vertical integration, which Herzog said is the only route to success. That means Fox will get a heavy quotient of its programs from the 20th Century Fox television studio. It will get movies from Fox's movie studio; news from Fox News Channel, and sports from News Corp.'s ever-expanding sports empire. "I think we and ABC just have advantages because of our vertical integration," Herzog said. "I'm sure it gives CBS and NBC something to think about." A lot of thinking is certain to go on at both CBS and NBC over the next year about whether to make an alliance, through a merger, sale or takeover, with a Hollywood studio or a cable network. Talks have already gone on between NBC and USA Network, CBS and Sony Corp., CNN and just about everybody. The issues can be complicated because foreign companies like Sony are not allowed to own more than 25 percent of a network, and companies like Time Warner that have cable systems are not permitted to own broadcast stations. Executives at NBC and CBS have stated publicly that they have no intention of relinquishing control of their companies. But the pressures of intensifying competition for shrinking audiences and profits could force a recalculation of the value of owning and operating a network in this environment at almost any time. More than ever, the real value of the network business resides in owning stations. The networks want to own more, and they will continue to press the Federal Communications Commission to change the current limits so they can buy more. Failing that, the networks are likely to press all the more for some other revenue stream, trying to match the advantage of cable channels, which receive revenue from both advertising and subscription fees. That may mean more direct sales appeals to viewers for videos of shows. And the networks will continue to look for ways to "repurpose" their programs, like sending off repeats to cable channels, as NBC has done, putting reruns from its "Dateline NBC" series on its MSNBC and CNBC cable channels. They may also begin moving more toward the idea of trying to sell accumulated audiences for shows repeated several times in a month, as cable has often done. Posted: Jan 31 1999 10:46AM EST as a reply to: Msg 1 by YahooFinance John