Business Notes Television

The schematic eye that CBS uses as its television symbol seemed almost to blink and grow bleary last week. Since January the big broadcasting conglomerate (1984 sales: $4.9 billion) has been under attack from Fairness in Media, a conservative group endorsed by North Carolina Senator Jesse Helms. It wants to acquire the company in order to eliminate what the right-wing outfit calls the television network's predominantly liberal bias. At week's end CBS appeared headed for more troubles after rumors started that Ted Turner, the flamboyant chairman of Atlanta-based Turner Broadcasting System, was about to attempt a hostile takeover. Those reports pushed stock of CBS up $4 on Friday, to 88 1/2.

An attorney for Turner Broadcasting (estimated 1984 sales: $300 million) met with FCC commissioners last week and supposedly discussed the possible acquisition of CBS. Turner denied that the talks concerned a CBS buy-out. He said Charles Ferris, a Turner attorney, had made inquiries to the FCC about license- transfer procedures and that the talks were "not related to any particular broadcast group." On Wall Street, analysts doubted Turner had the financial clout to launch a successful fight for CBS.