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Turner Can't Get A Grip On Cbs


In Business This Week

TURNER CAN'T GET A GRIP ON CBS

CAN TED TURNER FINALLY BUY the television network he so covets? Time Warner sources say the company is abandoning efforts to unload its 18% stake in Turner Broadcasting System and would back a sensible TBS bid for CBS or another network. That leaves just one hurdle in Turner's way: reality. Westinghouse has lined up financing to back its $5.4 billion agreement to buy CBS; CBS Chairman Laurence Tisch wants cash, which Turner does not have. General Electric is talking again to Turner, but it won't give up control of NBC. Don't write Turner off: He has, after all, pulled off other tough deals, such as the 1985 purchase of MGM's movie library. Then again, swallowing MGM nearly bankrupted TBS.EDITED BY KEITH H. HAMMONDS


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