THE MEDIA . . . LOOKING TO DANCE?

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Time Warner is eyeing NBC and Disney has a hankering for CBS, according to published reports today. If consumated, the purchases would be two of the most dramatic in a decade when major news and entertainment companies have remade themselves into multi-media giants. Analysts familiar with the industries, however, told TIME Daily the deals are fraught with problems. Government regulations, for instance, may prohibit Time Warner from owning a TV network while it also dominates some cable markets. Time Warner is the number two cable provider in the U.S. And Disney, with its children-oriented shows, would be an odd fit with CBS, which has an older viewership. "This is a period of conversation at every level among every company," said one analyst. "No one knows how this information superhighway stuff is going to work out."