COMPANY TOWN ANNEX
CBS Deal Likely to Get FCC OK: Westinghouse Electric Corp.'s proposed $5.4-billion takeover of CBS Inc. is likely to gain its final regulatory approval at a special Federal Communications Commission meeting today. The FCC approval is the last remaining obstacle to completing the merger. A delay in obtaining it has cost Westinghouse an estimated $1 million a day since Aug. 31 because the merger agreement calls for CBS shareholders to be paid interest of 6% after that date--in addition to the $81 a share agreed to in the merger. CBS shares rose 12.5 cents to close at $81.50, Westinghouse shares fell 12.5 cents to $15.875; both trade on the New York Stock Exchange. The FCC merger approval vote has been held up by the recent partial shutdown of the government.