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CBS ANNOUNCES $150 MILLION 10-YEAR DEBT OFFERING

 CBS ANNOUNCES $150 MILLION 10-YEAR DEBT OFFERING
 NEW YORK, Jan. 6 /PRNewswire/ -- CBS (NYSE: CBS) announced today


that it has offered $150 million principal amount of 7.625 percent notes due 2002 through Salomon Brothers. The issue will be priced at 99.755 percent of par to yield 7.66 percent.
 The non-callable notes will be issued pursuant to Rule 415 of the Securities and Exchange Commission and will settle on Jan. 13 with interest accrued from Jan. 1. CBS's shelf registration was rated "A-" by Standard & Poor's and "A" by Duff & Phelps.
 The net proceeds from the sale of these debt securities will be used primarily for funding the purchase of substantially all of the assets of Midwest Communications. During the first quarter of 1992, CBS expects to complete its purchase of Midwest for approximately $200 million through both the assumption of approximately $150 million of Midwest debt obligations and the issuance of approximately $50 million of CBS common stock. Midwest operates the following properties: WCCO-TV, WCCO-AM and WLTE-FM, all located in Minneapolis; WFRV-TV, located in Green Bay, Wis.; and Midwest Sports Channel, a regional sports cable channel.
 -0- 1/6/92
 /CONTACT: Keith Fawcett of CBS Inc., 212-975-6824/
 (CBS) CO: CBS Inc. ST: New York IN: ENT SU: OFR


SM-KW -- NY074 -- 7064 01/06/92 17:06 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 6, 1992
Words:220
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