Re: miCroBSoft?

[Dan Strassberg <dan.strassberg@worldnet.att.net>]

At 03:43 AM 7/2/97 +0000, you wrote:
>If Microsoft does buy CBS from Westinghouse, I suppose all of the now CBS
>stations will go with it -- including stations like WBZ and KDKA that have
>been Westinghouse owned forever.  That would be sad.
>
What a wonderful subject for months of speculation! Gates et al are sitting
on a corporate horde of $9 billion (not counting the even greater number of
billions in their personal stashes). Clearly, all the money is burning a
hole in Microsoft's pocket. One can only hope that if Microsoft decides to
proceed with this acquisition, it will prove to be the company's undoing. I
can think of no company in American business today that--ahem--more richly
deserves a comeuppance. What the hell do those geeks know about show business?

As for Microsoft eventually owning the CBS radio stations--especially the
AMs--I don't _think_ so! How much you wanna bet that if this deal ever goes
down, the AMs at least (and perhps the FMs) go on the block within a matter
of weeks? One or more of the big radio groups will pick them up. Gates is
fixated on NEW media; I can't see him hanging onto properties in an
out-of-favor 80-year-old medium. (Well, maybe I am naive. The CBS AMs are
quite profitable, and Gates loves money. OTOH, he appears to love power and
the cachet of being both a techno-wonk and the world's richest man even more.)

As for Westinghouse no longer owning heritage stations such as WBZ and KDKA,
wasn't that in the cards anyhow? Didn't Westinghouse announce months ago
that it was divesting itself of CBS? Wasn't the plan to give each
Westinghouse shareholder a proportional share of CBS stock? So if the
spinoff goes through, CBS will in no way be rid of predators like Gates, who
can then tender for the outstanding shares. If the price is right, the
shareholders will vote to sell. And even in the absence of a tender offer or
other form of buyout, once Westinghouse and CBS have separate, publicly
traded stock, it will be a matter of only microseconds before the two
companies have demonstrably different ownership. 

- -------------------------------
Dan Strassberg (Note: Address is CASE SENSITIVE!)
ALL _LOWER_ CASE!!!--> dan.strassberg@worldnet.att.net
(617) 558-4205; Fax (617) 928-4205

------------------------------