CBS Evening News for Monday, Mar 18, 1985
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(Studio) Merger of ABC with Capital Cities Communications, Incorporated (CCCI) announced.
REPORTER: Dan Rather
(NYC) Bus. and broadcast implications of CCCI's takeover of ABC discussed. [ABC chairperson Leonard GOLDENSON - praises merger's benefits for ABC.] Fin. aspect of merger and possibility that ABC agreed to takeover to avoid hostile bid by Ted Turner considered. [Media analyst Tony HOFFMAN- considers ABC's possible motive.] ABC's stock activity today and network's ratings problems reviewed. [TV critic Tom SHALES - thinks ABC was vulnerable.] CCCI's revenues and profits outlined on screen; merger's importance to CCCI chairperson Tom Murphy noted. [HOFFMAN - notes CCCI's stable profit margins.] Federal Communications Commission process involved in granting approval for merger mentioned possibly taking a year to complete.
REPORTER: Ray Brady
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