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CBS chose a buyer for its music publishing unit.

October 13, 1986

CBS has signed a letter of intent to sell CBS Songs to a group including New York businessman Stephen Swid, two industry sources told The Times. Competing bidders for the music publishing unit included its current president, Michael Stewart, who last month was believed to have reached a deal. Neither Stewart nor his attorney could be reached for comment. Swid, best known as a large shareholder of General Felt Industries Inc., last year purchased the New York's elite 21 Club with a partner.

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