Cbs Attacks

Tuning in to CBS's continuing battle to stave off a takeover by Ted Turner is like following one of the network's own soap operas: the plot seems to unfold at a painstakingly slow pace. But that is just the story line that CBS likes. Steady resistance and attack on all fronts seems to be CBS's strategy in its efforts to thwart the flamboyant entrepreneur's hostile bid. Some observers are comparing it with ABC's determined opposition in the 1960s to attempted takeovers by Norton Simon and Howard Hughes.

CBS is now throwing up a series of blocking moves in the hope of wearing down Turner. The network last week petitioned the Federal Communications Commission to stop Turner's bid. In addition, 97 groups ranging from the National Organization for Women to the United Church of Christ filed in sympathy with CBS. The company delivered a 90-page denunciation of Turner. In a memo attached to the petition, CBS charged that if Turner were to gain control, the network would begin a "death spiral." CBS claims that Turner would burden the firm with $4.5 billion in debt.

Among CBS's allies in appealing to the FCC was the Hispanic National Bar Association, which argued that Turner had "demonstrated an insensitivity for blacks, Hispanics, women and Jews." More than 100 CBS affiliates chimed in as well. Most of their petitions asserted that network programs could suffer under Turner, whose stations feature reruns of 1950s programs, including Leave It to Beaver and I Love Lucy, as well as a 24-hour news service.

Who has inspired this chorus of opposition? CBS says that its supporters spoke out on their own. "We have been explaining our position, but we have not been soliciting aid," says Senior Vice President William Lilley III.

CBS has searched for support wherever it may find it, enlisting even a former Turner employee, Broadcaster Daniel Schorr, who three months ago left his job as CNN senior correspondent in a contract dispute. For years Schorr had been a CBS newsman. In its petition, CBS cites an article by Schorr that appeared in the June 2 Los Angeles Times. In it Schorr charged that Turner "has encouraged companies to sponsor features associated with their products." He noted, too, that "business leaders are subjects of flattering interviews and their companies sometimes solicited afterward for commercials." While Schorr was surprised to be quoted by CBS, he continues to criticize Turner. Says Schorr: "He is not sensitive to the necessity of insulating news coverage from business interests. Turner comes from a new tradition of media tycoon."

The tycoon himself has had little to say of late. Turner announced that he would respond to CBS's petitions by next week and is "confident that the FCC will find no reason to block our offer." But Wall Street remains dubious about Turner's chances. Though he has offered CBS stockholders securities that he values at 175 a share, analysts estimate their worth at around 130. CBS stock now trades far below that level. It closed last week at 113 1/2.