Spotlight: Capital Cities ABC Inc.

Capital Cities/ABC Inc., parent company of ABC, posted operating income 44% higher during the first quarter. ABC, the only network to increase its ratings during the 1992-93 prime-time season, also returned to profitability. On Monday, ABC announced its fall lineup, replacing eight hours of its 22-hour weekly schedule. In recent years, ABC has been the top-ranked network among adults age 18 to 49, whom advertisers pay a premium to reach.

Major Properties

* Broadcast TV: 230 affiliates; eight owned-and-operated stations

* Radio: ABC Radio Network; 17 owned-and-operated stations

* Cable: Equity interests in ESPN, Arts & Entertainment, Lifetime

* Publishing: Newsletters, nine daily newspapers, magazines (Los Angeles, Women’s Wear Daily)

Financial Data

* Market capitalization: $9 billion

* Cash: $687.0 million

* Long-term debt: $600 million

* 1992 revenue: $5.3 billion

* 1992 profit: $246 million

* Earnings per share: $23.45

* Dividend: $0.20