Fort Lauderdale News from Fort Lauderdale, Florida • Page 5

Fort Lauderdale News, Tuesday, August 9, 1988 5A CBS THRIFT I It "1 think there's something in the wind, hut nothing's been announced yet." Harkins said. "Whatever will "be announced will be announced. That's about all I can say." But FSLIC's attorney in the Don Bucklin, said Blank, Rome has agreed to a payment. "The Federal Home Loan Bank Board has approved a settlement with Blank. Rome, the terms of which will be announced on Tuesday," said Bucklin, who works irf the Washington office of the Miami law firm of Squire Sanders Dempsey.

FSLIC's suit sought, more than $250 million in damages. The industry of litigation created by Sunrise's failure has revealed how Foxman and Gitomer appar-; ently profited from the thrift during its last months by selling their stock before negative financial re; ports were released. Corporate reports show that, in late 1984 and early 1985, Gitomer sold $325,000 worth of Sunrise, stock and Foxman sold more than $60,000 worth before negative reports were released. The price of. the stock then fell after negative publicity.

Foxman and Gitomer have been accused of having adi vance knowledge of the bad and of unloading their stock. Both men have denied He said that the station will continue its commitment to local news and that station officials are reviewing the possibility of generating more locally produced programs to fill out the schedule. Ansin also said that he will still pursue his antitrust lawsuit against CBS and NBC filed in federal court in Miami to retain Channel 7's NBC affiliation. But it is unclear whether the suit or a possible complaint by Ansin to the FCC will halt the change. Media analysts and network officials are betting it won't.

"Because Ansin squawked, it's politically sensitive and the FCC will use due diligence, but I think they'll approve the deal," said Bruce Cheen, an analyst with Paul Kagan Associates in Carmel, Calif. John Intrater, a media analyst with Broadcast Investment Analyst in Chantilly, agreed. "If the FCC wasn't going to approve it, they would've taken action when NBC said they were going to shift from Channel 7," he said. Meanwhile, NBC's Robert Wright, president and chief executive officer, said that, "All that litigation and controversy leaves a bad taste and doesn't do anyone any good." "There are 500 independent television stations in the country, and I know enough people in Congress to ROM PAGE 1A Sunrise stockholders get settlement ners of Blank. Rome, which received almost $7 million in legal fees from Sunrise.

The FSLIC's suit charged that Sunrise executive Robert Jacoby was no more than a puppet" of the Philadelphia law firm. Two of Blank, Rome's senior partners, Michael Foxman and M. Kalman Gitomer, were top executives at Sunrise. Foxman founded Sunrise in 1980, and Gitomer signed the thrift's charter and served as chairman at one point. Philadelphia lawyers are on both sides of the case.

David Berger, a Philadelphia attorney representing Sunrise shareholders in the case, said Blank, Rome agreed on Monday to settle the case for $50 million in what may be the largest damage settlement ever paid by a law firm. "It's certainly the largest settlement I'm aware of so far as a law firm is concerned," Berger said. Blank, Rome's attorney in Philadelphia, John Harkins would not confirm or deny that a settlement had been reached. changes also set off a scramble for several Palm Beach County stations vying to gain the ABC affiliation when it leaves Channel 12. Officials with WTVX-TV.

Channel 34, which now is a CBS affiliate, and independent WFLX-TV, Channel 29, said they were preparing formal applications for ABC affiliation. So did two new Palm Beach County stations not yet on the air: WAQ-TV, Channel 19, and WPBF-TV, Channel 25. "We've indicated to ABC our interest, and we certainly think we have a shot at it," said Channel 25's general manager, Robert Ware. Meanwhile, Miami's WSVN-TV, Channel 7, emerges as a loser in the shuffle. With the expiration of its contract with NBC on Jan.

1, Channel 7 will be forced to become an independent station, slashing the station's value from about $300 million to about $60 million to $80 million, analysts estimated. Channel 7 was expected to become the new CBS affiliate after NBC's parent, General Electric, purchased WTVJ-TV, Channel 4. last year -the CBS affiliate at the time. But negotiations between CBS and Channel 7 owner Edmund An-sin deteriorated when Ansin refused to switch from NBC, which is the ratings front-runner, before he had to according to his contract. "We expect to be an independent station on Jan.

1," Ansin said. FROM PAGE 1A CBS purchases Miami's Channel 6 for $59 million Channel 12 for CBS shows. Skipp Moss, Channel 6's vice president and general manager, said he anticipated expanding the station's news operation. "It's not often any station in any market has the chance to be bought by the top network in the business," he said. CBS' deal with Channel 6, Miami's oldest independent station, is subject to Federal Communications Commission approval.

Media analysts said approval likely would be granted soon after the FCC's next meeting in September. If approved, the developments a-mount to one of the biggest affiliation shake-ups in a major televi-sion market, moves that reconfigure the South Florida television pie as stations move into the 1990s. "There's not been anything comparable in the history of TV," said David Poltrack, CBS marketing vjce president. The changes mean South Florida viewers will be searching channels next year to tune in the network programming they want. And the Skipp Moss, of Channel 6.

left, and Eric Ober. president of CBS television stations. think Ansin is going to have a great deal of difficulty convincing them he can't do what 500 other stations are doing successfully," Wright said. The Miami-Fort Lauderdale te-levison market is the nation's 16th largest; West Palm Beach is the nation's 54th largest TV market. These broadcast markets are unusual because they overlap.

The purchase of independent Channel 6 would allow CBS to maintain its presence in the fast-growing Miami television market for a fraction of the price a network affiliate likely would have commanded, analysts said. General Electric paid $270 million for Miami's Channel 4 last year. Staff Writers Bill Kelley and Tom Stieghorst contributed to this report. Classic Floridian Separates A Great Value At 14.99 Your Choice I i We've made a very special purchase of famous maker separates in wear-now fabrics and colors. Pants, skirts, sweaters and tops by Season Ticket, Cathy Daniels, Barry 6k Me and more.

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