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EARNINGS

July 23, 1988

Capital Cities/ABC Inc. said its second-quarter net income rose 14.2% to $113.8 million. Revenue rose to $1.16 billion from $1.13 billion. The New York-based media company said weakness in the national advertising marketplace contributed to slight growth in broadcasting revenue. A general softness in print media advertising demand continued to hurt most of the company's publishing operations. The firm attributed the profit rise primarily to a reduction in effective income tax rates.

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