Word: tisch
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Dates: during 1980-1989
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...board balked. Reason: besides its cultural value, the records division is a money machine that produced $162 million in profits last year, some 37% of CBS's total earnings. However, when Sony came back with a $2 billion bid, the CBS directors could not refuse. President Laurence Tisch, who pushed the sale as part of his back-to-broadcasting program for CBS, apparently contended that now was the right time for CBS to get out of the recording industry, since its profits might wither in an economic downturn. Sony seemed to be the ideal buyer, as the two companies have...
...already available in 26 cities coast to coast, and the staff is working up a pilot for a possible half-hour series next fall on ABC. Meantime, there are growing indications that Spy is drawing blood from its target audience. A flack for the "churlish dwarf billionaire" Laurence Tisch was moved to call the editorial offices and point out, "Look, Larry is not technically, medically, a dwarf." Next issue, the technicality was duly noted, with appropriate sarcasm. Spy is not the kind of magazine ever to get , hung up on a technical foul...
...denied reports that Rather had to be cajoled into returning to the set. "I would never even think of deliberately allowing the network to go to black," he said. Although the managers of several CBS affiliates criticized Rather for leaving his anchor chair, CBS Chief Executive Officer Laurence Tisch publicly sympathized with Rather, saying it was "human nature" for him to be perturbed. Nonetheless, Tisch reportedly was furious with Rather, and the two had a heated exchange. A possible casualty: Executive Producer Tom Bettag, who might be replaced with someone who can deal more firmly with Rather...
Should a premier broadcaster also try to be a major power in the print field? Apparently not in the opinion of Laurence Tisch, who became chief executive of CBS last September and has since been slicing away operations not related to broadcasting. The process accelerated last week, when CBS agreed to sell its magazine group to four division executives for $650 million. Among the 21 CBS titles: Woman's Day, Car and Driver and Stereo Review...
...taxes, penalties and interest. Sidney Poitier ended up with questionable deductions of $500,757, Michael Landon with $1 million, and his former Bonanza co-star Lorne Greene with $333,838. Producer Norman Lear, creator of All in the Family, has to answer for $1.5 million. CBS Chief Executive Laurence Tisch's deductions amounted to $1.1 million, while his brother Preston, the U.S. Postmaster General, benefited from a $480,508 write-off. The biggest hit may have to be taken by French Financier Michel David-Weill, who owns 35% of Lazard Freres, a highly successful securities firm. If the Government prevails...