Tisch Denies Plans to Sell CBS or Merge With Studio

Despite periodic rumors that he might sell the network or merge it with another company, CBS Inc. Chief Executive Laurence A. Tisch reiterated Wednesday that he intends to stay in the television business for the long term.

“I’m committed to CBS, and I don’t think any action I’ve taken” would indicate otherwise, Tisch said at a press conference on the first day of CBS’ annual convention of affiliated stations, held at the Century Plaza Hotel in Los Angeles.

There has been speculation on Wall Street that each of the three major TV networks eventually may merge with movie studios. But Tisch said: “I don’t think it would make any difference to combine a network with a studio--I don’t think it strengthens our position.”

Regarding acquisitions, Tisch noted wryly that although he was always looking for opportunities, the company’s billions in cash on hand “earns money every day” and he felt “no need to move quickly” to acquire other properties.

“One (additional) ratings point in prime time can do more than any acquisition that we could make in the next five years,” Tisch said.