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Warner Communications #82968

ABC Evening News for Monday, Feb 07, 1983
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(Studio) Report introduced
REPORTER: Max Robinson

(NYC) Decline in Warner Communications' economy status examined; corp.'s various holdings listed. Warner's acquisition of Atari and experience with the video product since then cited as example; drop in Warner stock recently outlined on screen, discussed. [Co-chief operating ofr. Emanuel GERARD - thinks stock market overreacted.] [Mkt. analyst Lee ISGUR - feels market reaction was justified.] Several Atari execs., include chairperson Raymond Kassar, noted selling Atari stock just prior to fall on market; details outlined on screen. Warner chairperson and chief exec. Steven Ross mentioned, shown. 3 former Warner execs. noted convicted of tax evasion, racketeering and fraud arising from case involving Westchester Theater; details given. Allegations of prosecutor Nathaniel Akerman that Ross was behind maneuvers noted. [ROSS - dismisses prosecutor's statements.]
REPORTER: Michael Connor

Connor, Michael;
Robinson, Max

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