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Acknowledging that his "timing was crummy," Peter Lund, former president of CBS Sports-turned president of CBS' TV stations, has resigned to become president of Multimedia Entertainment. "Donahue" and the "Sally Jessy Raphael" show are both produced and distributed by the New York-based firm, which is one of four divisions of Multimedia Inc. Lund said last week that his move was ill-timed in light of the recent uproar over the dismissal of more than 200 employees at CBS News. Lund was considered a rising star at CBS, and his departure reportedly came as a surprise to top brass.

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