Word: tisch
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...Tisch may have had several motives for buying into CBS. First he was looking, as always, for a lucrative investment, and the price of CBS stock seemed right. Says Tisch: "Originally we invested in CBS as part of the opportunity of the moment. The stock went down to a point where we thought it was interesting." Tisch figured that sooner or later he could realize a profit on his investment...
...Loews chairman may have had other reasons for pursuing CBS. For perhaps the first time, Larry Tisch may have been attracted to the limelight, wanting some fame to go with his fortune. Says one CBS board source: "He is trying to give himself a new dimension." Cousin Elizabeth Drew disputes that view. Says she: "He is utterly secure. He is not doing this for an ego trip. He doesn't need the publicity or seek it, but he knows that it comes with the territory...
...decades the public arena has been his brother's territory. It was usually Bob who chatted with reporters, Bob who worked the crowds at cocktail parties. It was also Bob Tisch who created a growing New York social institution, the power breakfast. One favored spot for early morning conferences is the Loews-owned Regency Hotel on Manhattan's Park Avenue, where the rich and famous, along with people who merely aspire to be, can be found eating two eggs and bacon (price...
...Loews chairman may have also been drawn to CBS by a desire to safeguard the independence of a network news operation. Says CBS Board Member Harold Brown: "Larry Tisch is a public-spirited citizen who is also a very shrewd businessman. He does have the public interest at heart. He regards the network as something to be protected from selfish or disruptive or repressive influences...
Perhaps Larry Tisch has an equally strong impulse to seize control when he believes himself to be in the right. Whether he will interfere with the TV network's independence remains to be seen. Said one CBS board source: "He does not want to be seen as somebody who dominates with his opinions what should be a public service. But he's not perfect, and it's up to the board to watch this...