Press: Bumpy Takeoff

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Cronkite hits turbulence

When Walter Cronkite signed off The Evening News to follow other pursuits, few could have guessed that his first—indeed, almost immediate —move would be from the newsroom to the board room. But last week, just days after he vacated the anchorman's chair he had occupied for 19 years, Pan American World Airways announced that Cronkite had been named a director of the company. "I've always had an interest in flight and the airlines and a fondness for Pan Am in particular," explained Cronkite. "It made a perfect fitting of interests."

News executives at rival networks questioned just how fitting it was. ''We would not permit such an arrangement here," said NBC News President William Small, "because of the potential conflict of interest on stories that correspondents covered. Walter is going to do a science series [Universe, a half-hour newsmagazine that will air 13 episodes this summer] that could get into the area of energy, and that affects the airline industry." Concurred ABC's senior vice president of news, Rich ard Wald: "No active working correspondent at ABC could become the member of a board of a corporation."

At CBS, News President William Leonard defended the Pan Am connection by pointing out that Cronkite is not really a staff correspondent, but has a "new status" at the network. "We call him a special correspondent, in which we have exclusive use of his activities for television, but not all of his time," said Leonard. "One of the JR things his contract spells out is that he is able to make business associations, including directorships, with our understanding."

As a director, Cronkite will receive $10,000 a year from Pan Am and $300 for every board meeting he attends. Also included is free travel on all Pan Am flights for himself and his wife. Some newsmen suggested that Cronkite, who has no need of the money, may have been motivated by a desire to see and participate in decision making from the inside after all his years of reporting events from the outside In any case, Cronkite was offering no apologies for his debatable move. "I can pick and choose assignments as I please," he said. "If a story comes along that involves the air transportation business, I'd rule myself out." He also made it clear that he would feel free to accept other directorships if they were offered. Evidently that's the way it is, from now on.