Page 2 -The Michigan Daily -Friday, April 19, 1985 Turner unveils bid for CBS IN BRIEF NEW YORK - Cable television en- trepreneur Ted Turner made his long- awaited bid to take over CBS in a com- plicated $2.9 billion deal yesterday and promised if successful he would im- prove the giant network's "quality, ob- jectivity and diversity." CBS Inc. vowed to fight the takeover and several Wall Street analysts were skeptical the flamboyant Atlanta broadcaster could pull it off. "WE DO NOT intend to make any fundamental changes in CBS broad- casting," Turner said at a news con- ference after a closed-door meeting with analysts evaluating the Turner deal for their clients. In discussing his plans for CBS, Tur- ner said: "While there are no specific plans for modifications of programming policies, TBS will seek to improve the quality, objectivity, and diversity of CBS programming. In short, we intend to at- tempt to strengthen the television segment of the company. Turner wants to acquire 21/, million shares of CBS stock - 67 percent of the company's stock - then merge CBS with his Turner Broadcasting System cable network. ANALYSTS valued his bid at anywhere from $150 to $165 per share. He offered CBS shareholders a no- cash package of stock in a new com- bined company, as well as bonds and fixed income securities in exchange for their CBS stock. When the dust has cleared, Turner said, the deal would give Turner Broadcasting roughly a 50 percent ownership in the new company. "It was a hastily made proposal and ridiculously cheap," said Elizabeth Toth, an analyst who follows CBS for Provident National Bank, Philadelphia. SHE SAID Turner's company is not profitable enough to finance the debt and added, "I can't think of anybody who has offered a deal with absolutely no cash in the broadcasting area." Turner said the offer was "the first step in a series of planned transactions which we are proposing to bring about the recapitalization of CBS and restruc- turing of its operations for the benefit of all CBS shareholders." He said if the takeover succeeds, CBS will have to divest itself of its 14 owned and operated radio stations and its Philadelphia television station because of federal regulations. TURNER called the divestitures the first step toward restructuring CBS and reducing the debt brought on by his recapitalization. He also plans to con- sider selling off all of CBS's non- broadcast operations and corporate assets. Nonbroadcast holdings including Columbia records, a wide range of 'We do not intend to make any fundamental changes in CBS broadcasting.' - Ted Turner Cable television entrepreneur magazines including the newly acquired 12 Ziff-Davis consumer magazines and "Field and Stream" and "Woman's Day," as well as a theatrical film joint venture, a video club, and several other enterprises. "I want to make it clear that Turner Broadcasting is acting alone. There is no connection to any ideological group," Turner said. HIS BID for CBS nevertheless was hailed by Fairness in Media, the group formed after conservative Sen. Jesse Helms (R-N.C.), attacked CBS for its "liberal bias" and urged conservatives to buy CBS stock and "become Dan Rather's boss." In the broadcasting community, however, CBS' programming has always been considered the most con- servative of the three major networks. Current hits, such as "Dallas," "60 Minutes" and "Simon & Simon," are favored by and reflect CBS' loyal viewers, who tend to be older and out- side big cities. MSA approves new 41SPENDING THE SUMMER IN CHICAGO? EXPLORE YOUR HERITAGE *at SPERTUS COLLEGE OF JUDAICA +O LL*O Courses in Judaic Studies* Sessions from two to eight weeks* Earn from three to twelve quarter hours Maimonides - Biblical Studies - Jewish Folklore Jewish Prayer - Holocaust Studies Anti-Semitism - Intensive Hebrew SUMMER QUARTER BEGINS JUNE 17 Legal (Continued from P treasurer for the SLS bo The new bylaws are I for ratification just a s SLS settled a lawsuit w the dismissal of a memb Kaplan said the revis long underway before t the lawsuit but that tI have been accelerated suit. AT TUESDAY'S MSA was the final meeting USE DAILY CL services bylaws age 1) ard. assembly, Kaplan said he wanted to see being presented the new bylaws ratified by the outgoing short time after assembly because they had been hich arose from responsible for much of the work on er of its board. them. ion process was "Considering we've been working on he settlement of them for four months in assembly and he process may we're the most experienced assembly because of the with them, its only logical that they should be passed under our ad- meeting, which ministration," agreed Schnaufer. g of the 1984-85 "I'm pleased that they were able to address them with the experienced people still here, rather than working with a new government," Nichols said. Nichols anticipates no problems in getting the approval of the remaining ASSIFIEDS two groups. "I think the bylaws are significantly improved in terms of organization," she said. "I think we've got an approvable document. Compiled from Associated Press and United Press International reports Co inttee okays Conta funding WASHINGTON-The Republican-led Senate Appropriations Committee voted 15-13 yesterday to approave President Reagan's plan to release $14 million in aid to Nicaraguan rebels, but many committee members said they would vote against Reagan's proposal on the Senate floor. The vote threw doubt on the survivability of a compromise Contra funding plan worked out earlier among House and Senate Republican leaders and which reportedly had Reagan's approval. For the moment, the president won a significant victory in the committee, which sent the $ 14 million to the floor for the vote Tuesday. The plan faces considerable opposition in both chambers of Congress and is given little chance of passage in the House. Many members of the committee, including Republicans, said they would vote against Reagan's proposal on the floor, although they supported it yesterday for procedural reasons. Under Reagan's plan approved by the committee, the $14 million would be provided as food, clothing, and medical assistance for a 60-day cease-fire period. After that, Reagan could divert the money to weapons and am- munition if the Nicaraguan government, in the president's judgment, fails to negotiate seriously with the rebels seeking to overthrow the leftist San- dinista regime. Union Carbide finances aid program for Bhopal victims NEW YORK-Union Carbide agreed yesterday to finance a $5 million emergency aid program for victims of the Bhopal chemical disaster, but said a "fair global settlement" of the victims' lawsuits would do more good. Carbide acted two days after U.S. District Judge John Keenan publicly urged the corporation to spend $5 million to $10 million as a show of "good will" without waiting for couq action to be resolved. Such a donation Keenan said, would not imply that the Danbury, Conn.-based corporation admits any liability for the Dec. 3 accident. According to Indian government figures, some 1,700 people were killed and up to 200,000 were injured when a cloud of methyl isocyanate gas escaped from a pesticide plant and drifted through a slum area of Bhopal. The New Delhi government sued Union Carbide last week, adding to more than 60 other suits against the company that were brought by private American attorneys on behalf of accident victims. All the cases have been placed before Keenan for at least preliminary action. Two Ed. Dept. aides resign WASHINGTON-Two Education Department aides who favored eliminating federal school aid for the handicapped resigned yesterday after a Republican senator threatened to deny funds for their salaries. The action came after Education Secretary William Bennett labeled as "insensitive and repugnant" some of the comments that aide Eileen Gardner had made about handicapped issues. Bennett' had stopped short of bowing for the Heritage Foundation, and Lawrence Uzzell, a conservative activist who favors scrapping most federal school programs. But later, his assistant secretary for public affairs and legislation, Anne Graham, announced, "Eileen Gardner and Larry Uzzell have voluntarily submitted their resignations and Secretary Bennett has accepted them." There was no immediate comment form Sen. Lowell Weicker (R-Conn.) who warned Bennett on Wednesday that he would try to block funds for their salaries. Britain expels 2 Soviet Citizens LONDON-Britain ordered two Soviet citizens-a diplomat and an airline employee-expelled for "unacceptable activities," a diplomatic euphemism for spying, the government announced. Assistant Naval Attache Capt. Uleg Los and Vyacheslav Grigorov, who was employed at the London office of the Soviet national airline Aeroflot, were given seven days to leave the country, a Foreign Office statement said. The statement said Soviet Ambassador Victor Popov was summoned to the Foreign Office yesterday morning and told Los had been engaged in "ac- tivities incompatible with his status" as a foreign envoy and must leave the country. The ambassador was told that Grigorov, who has no diplomatic status in Britain, had been engaged in "unacceptable activities," and "appropriate measures would be taken" if he did not leave within a week. A Foreign Office spokesman would not elaborate and would not discuss the nature of the two men's activities. It was not immediately clear when the men would leave Britain. Study reveals new Pill risk CHICAGO-Women who use birth control pills may increase their risk of developing chlamydia, the most common sexually transmitted disease in America and a leading cause of some pelvic infections, a new study says. As many as 15 percent to 25 percent of the 2 million women who get chlamydial infections each year will develop pelvic inflammatory disease, which can lead to infertility, an author of the study said. The findings regarding oral contraceptives are contrary to what in- vestigators say has been a growing belief that birth control pills protect against the pelvic infections. Some doctors recommend them for that reason. The study says while the pills may protect against pelvic inflammatory disease caused by gonorrhea, "no basis exists for assuming similar protec- tion is provided against chlamydial" pelvic inflammatory disease. 01 01 01 For more Information: SPERTUS COLLEGE OF JUDAICA 618 S. Michigan Ave. - Chicago 60605 (312) 922-9012, ext. 22 I Has a special gift for upcoming graduates * 01 Plus 400purchase allowance** from Ford Motor Company. ail 01 be Mirbiaat -UiI Vol. XVC - No. 159 The Michigan Daily (ISSN 0745-967 X) is published Tuesday through Sunday during the Fall and Winter terms and Tuesday through Saturday during the Spring and Summer terms by students at the University of Michigan. Sub- scription rates: through April - $4.00 in Ann Arbor; $7.00 outside the city. Second class postage paid at Ann Arbor; Michigan. Postmaster: Send address changes to The Michigan Daily, 420 Maynard Street, Ann Arbor, Michigan 48109. The Michigan Daily is a member of The Associated Press and subscribes to United Press International, Pacific News Service, Los Angeles Times Syndi- cate, and College Press Service. Vehicles Included in the Plan. You may choose a new 1985 Marquis, Cougar, Topaz or Lynx. *Pre-Approved Credit. 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