Word: broadcast
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...bitterness continued to swell this year. In July the CBS Broadcast Group announced that it was eliminating 700 additional jobs, more than 8% of the work force. Some 90 positions in the news division were included. Emotions flamed higher when the network announced the removal from the air, effective next January, of the CBS Morning News, a program that cost $34 million annually to produce but perennially finished last in the breakfast sweepstakes. In his syndicated newspaper column, 60 Minutes Commentator Andy Rooney wrote, "CBS . . . no longer stands for anything. They're just corporate initials...
Much of the news division's rancor had focused on Sauter, an 18-year CBS veteran who climbed from news division president to executive vice president of the Broadcast Group, but who also took back the news division title after the incumbent president, Edward Joyce, was shunted aside last December. CBS journalists were scathing about the role they felt that Sauter, a former journalist, had played in adding dollops of entertainment value to the news side. In particular, he drew scorn for hiring Phyllis George, a onetime Miss America, as an anchor for the ailing Morning News; George was later...
...Wyman was perhaps more alarmed by Tisch. Says Paul Kagan, publisher of the industry newsletter Broadcast Investor: "It was pretty obvious early on that Tisch was something more than the man Wyman invited in to help stop a takeover." Along with some $750 million that he has poured into CBS stock, Tisch had made a strong and still growing commitment of his personal attention to the network. Wyman and his supporters on the CBS board -- at one time they numbered at least eight -- began to worry that their white squire was a serious takeover threat...
What next at Black Rock? Around CBS, broadcast employees were enormously relieved that a long ordeal was over. There was considerable speculation on successors to Wyman. Among those being mentioned as potential candidates for the job: Robert Daly, a former CBS entertainment president who is currently head of Warner Bros., and Douglas McCorkindale, vice chairman of Gannett. Daly has declared publicly that he is not interested, while McCorkindale reportedly said he had not been approached. Another possible candidate: Michael Eisner, a former ABC executive who is now chairman of Walt Disney Productions...
Sometimes the job of founding a company and building it into an industry giant is the easy part. The real challenge is letting go. Returning CBS Chairman William S. Paley, who turns 85 this month, has long been revered as the nation's most influential broadcast pioneer. But last week's events marked yet another odd, and somehow poignant, twist in the saga of Paley's long, long goodbye...