Westinghouse Electric Corp., soon to be renamed CBS Corp., said it will acquire TNN: The Nashville Network and CMT: Country Music Television from Gaylord Entertainment for stock valued at $1.55 billion. Westinghouse's Group W Satellite Communications already handles ad sales, affiliate relations and marketing for the networks. David Hall, president of Gaylord Communications, will become president, CBS Cable, after the close of the transaction. TNN reaches 68 million households in the U.S., and CMT is available in 38 million households.
Copyright February 1997, Crain Communications Inc.