CBS-TV ‘Not for Sale’

CBS President Laurence A. Tisch, whose company has sold off its records and other non-broadcast divisions to concentrate on broadcasting, said Thursday that the CBS television network “is not for sale.”

His assertion--in which he also denied that he may sell the 24.9% interest that his Loews Corp. holds in CBS--came in a three-page memo to CBS employees in which he decried recent gossip about his next moves.

CBS spokesmen previously have denied speculation that Tisch has tired of the cost drain of the CBS television network--now third in prime-time ratings--and might sell it within a year or sell his CBS stock.

He won’t do either, Tisch reiterated in his memo, which was made public by CBS.

“I have met with no one, had no conversation and have received no offer for the sale of Loews’ CBS stock or the CBS network,” he said. “If you hear or read anything to the contrary, it is absolutely, totally and categorically untrue.”

There has also been published speculation that Tisch--who, with CBS board approval, last year sold CBS Records to the Sony Corp. for $2 billion--might try to sell all of CBS Inc., including the four TV stations it owns.

Although his memo didn’t touch on that, CBS spokeswoman Alice Henderson denied that speculation, too.

In his memo, Tisch said he had been struck by an article this week in Variety, the show biz trade publication, that described the origin of these rumors and how they spread.

“The whole thing might be amusing, except that somebody might just take it seriously,” he said in explaining his desire to set matters straight. “And that could only create insecurity within CBS at a time when, I believe, we have restored financial and management stability.”

In his memo, he also noted that the once-dominant CBS television network “has been buffeted by stories” about how it is going to finish third in the prime-time ratings this season for the first time in its history.

Work is under way for a comeback, he said, emphasizing that “finishing second or third is not our objective. First place is what counts. And we know it will take several years--not a few months--to get there.

“We are committed to build a schedule that makes us first again. With our eye on that long-term goal, we shouldn’t be overly worried about small setbacks.”

Tisch said the rumors about CBS apparently stemmed from “some gloomy comments I have been making about the economy. Yes, I am troubled by the economic outlook for the next two years and its potential impact on our business.

“But that has nothing to do with my deep personal interest in and my commitment to the long-term prospects of CBS.”