'Journal' official, CNN reported in talks

Article Abstract:

The Wall Street Journal Managing Editor Paul Steiger is reportedly in the final stages of negotiations to name him as president of CNNfn, the financial news network of Cable News Network (CNN). If CNN succeeds in acquiring the services of Steiger, the move would be the newest indication of CNN's commitment to CNNfn, whose future was put in question following the departure of president Lou Dobbs in Jun 1999. Steiger, who would get a $1-million-per-year salary if he decides to join CNNfn, is responsible for improving Journal's technology and international coverage as well as expanding the paper's news coverage and audience reach.

Executive changes & profiles, Cable TV News Networks

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CBS adds King World to TV kingdom

Article Abstract:

King World Productions Inc will be acquired by CBS in a stock-for-stock deal worth $2.5 billion. CBS will acquired programs such as The Oprah Winfrey Show, Hollywood Squares and Jeopardy. Bear Stearns analyst Victor Miller said that the acquisition increases the breadth and depth of CBS in the syndication business. CBS CEO Mel Karmazin said that King World was an attractive acquisition target because of its $900 million in cash and lack of debt.

Asset sales & divestitures, Acquisitions & mergers, Motion Picture Distribution, Motion Picture and Video Distribution, Movie distribution, King World Productions Inc.

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Report forecasts big growth for broadcast, cable networks

Article Abstract:

PricewaterhouseCoopers is set to release a report stating that the combined revenues of TV networks will increase 47% to $54.3 billion in the coming four years due higher advertising sales and license fees paid by cable operators to networks. Advertising on broadcast networks is expected to reach $19.9 billion by 2004, up from 2004 this year. Industry growth is also expected to be boosted by access to digital cable TV.

Market information - general, Cable Television Systems

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