Business Notes: Nov. 25, 1985

CORPORATIONS A Network Draped in Red

For a company that covers the news, CBS has lately been making a remarkable number of headlines on its own. Last week the communications giant closed its toy, computer software and theatrical-film businesses, announced the early retirement of the No. 2 executive in its broadcast group and reported its first quarterly loss ($114.1 million) since the early days of the company in the 1930s.

CBS has been in trouble since the summer, when Atlanta Entrepreneur Ted Turner launched a $5.4 billion takeover bid. The company escaped Turner's clutches by buying back 21% of its stock,...

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