CBS, once called "the Tiffany of Broadcasting," has been tarnished in recent months. A year ago, the network began sliding into second place and it may be headed toward third in the ratings this year. Profits are down and hundreds of broadcasting jobs have been cut in recent months.
The myriad of problems at CBS didn't sit well with Laurence A. Tisch, the New York investor and self-made billionaire who recently bought nearly 25% of CBS stock. And two weeks ago, the festering turmoil in the top ranks of CBS became a widely reported public sore. Chairman Thomas H. Wyman was ousted, reportedly because of his rift with Tisch and because he sought a potential buyer for CBS without approval from the board of directors.
In the wake of Wyman's removal, Tisch has joined company founder and broadcast pioneer William S. Paley at the helm of CBS. Company directors have formed a committee to search for Wyman's successor. The winning candidate faces the challenge of boosting morale, cutting costs and attracting new talent to CBS.
The Times invited a variety of observers in or near the broadcasting industry to provide some insights into the beleaguered network--and to offer some advice.