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CABLE WORLD STAFF
* As expected, AOL-Time Warner unveiled its future management plan splitting the company's leadership among execs at America Online Inc. and Time Warner Inc. The plan makes little or no change in the interim power structure, with AOL CEO/chairman Steve Case as chairman of the merged megacompany, and Time Warner CEO/chairman Gerald Levin as CEO. Time Warner vice chairman Ted Turner will keep that role in the new conglomerate, as will AOL vice chairman Kenneth Novack. Similarly, AOL president/CEO Bob Pittman and Time Warner president/COO Dick Parsons will continue to jointly share COO duties.
* In another anticipated cable move, the FCC has approved Viacom Inc.'s acquisition of CBS Corp. The approval appears to allow Viacom to own CBS and UPN networks for one year, although the commission is likely to order eventual sale of its lesser networks including UPN. Viacom will probably be allowed one year to sell off enough TV stations to meet the maximum 35% national ownership cap.
* With the approval of the merger, MTV Networks chairman/CEO Tom Freston will head up the merged operations of MTVN and CBS Cable. The business operations of the combined unit will be based in Manhattan with CBS cable entrees TNN and CMT continuing to be run from Nashville. CBS cable president Don Mitzner and Lloyd Werner, EVP-sales and marketing, will be leaving the company, although the former will remain in a transitional role. TNN and CMT president David Hall will remain, reporting to Freston. The company plans to divest CBS Cable's regional sports networks, Home Team Sports and Midwest Sports Channel, along with technical operations and satellite distributor Group W Network Services.
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