Terms Network Biased, Anti-Reagan : Helms May Send Letter Calling On Conservatives to Buy CBS

Sen. Jesse Helms (R-N.C.) is preparing a letter campaign to 1 million conservatives urging them to buy stock in CBS to take control of the television network and “become Dan Rather’s boss.”

In a five-page letter made public Thursday by the News and Observer of Raleigh, the North Carolina Republican accuses CBS of biased news reporting and calls for a “national crusade” to gain influence over the network.

‘Buy Just 20 Shares’ Helms writes that, if each of the 1 million conservatives “shifts enough of his or her savings or investments to buy just 20 shares of CBS stock, we would have enough votes to end CBS’s bias forever.”

The letter says that CBS is being targeted because it is “the most anti-Reagan network . . . . It’s vital for us to put an end to media bias.”

The letter is dated Jan. 21 and evidently has not been mailed yet, but copies were printed in Raleigh last week, said the newspaper, which obtained a copy from an anonymous source.

Aides to Helms refused to comment Thursday.

The letter said that the campaign will be run by a group called Fairness in Media.

“FIM is counting on you to become Dan Rather’s boss--by switching a portion of your investments to CBS stock,” Helms writes. “I am not giving economic or investment advice. The sole reason for this effort is to end bias at CBS Inc.

“You can buy stock in CBS by finding a stockbroker,” Helms added. “They are listed in the Yellow Pages.”

“We think our news coverage is balanced and fair,” CBS Vice President Mary Boies said. “We have no doubts about that. We regret if people disagree. We stand by our news coverage--without skipping a beat.”

A CBS spokesman said that there are 29.7 million shares of stock held by about 24,000 stockholders. Financial analysts said that it would cost about $1 billion to buy half the stock.