Capital Cities/ABC Inc.’s 1988 net income increased...

Capital Cities/ABC Inc.’s 1988 net income increased 39% from last year to $387 million. Sales rose to $4.77 billion, up 7%. The New York broadcast and publishing concern said its broadcasting operations reported a 14% gain for the year, although ABC Television Network reported a slight loss because of special event programming such as the Winter Olympics, the mini-series “War and Remembrance” and coverage of the U.S. presidential election. The company also said publishing earnings fell 12% because of sluggish advertising demand at specialized publications.