The Cbs Deal As Seen From The Pasture

AS WESTINGHOUSE makes its showy offer to buy CBS for $5.4 billion, Paul Lego has his nose pressed against the window. Ousted as Westinghouse's CEO in 1993, Lego wishes he could have bid for the network, friends say--he just lacked the money. Irony: Successor Michael Jordan, after cleaning up the balance sheet, suffered many of Lego's old frustrations in trying to squeeze growth out of the company's industrial units. Hence, the shift to broadcasting.

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