All in the Family Fortune

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The Loews chairman may have had other reasons for pursuing CBS. For perhaps the first time, Larry Tisch may have been attracted to the limelight, wanting some fame to go with his fortune. Says one CBS board source: "He is trying to give himself a new dimension." Cousin Elizabeth Drew disputes that view. Says she: "He is utterly secure. He is not doing this for an ego trip. He doesn't need the publicity or seek it, but he knows that it comes with the territory."

For decades the public arena has been his brother's territory. It was usually Bob who chatted with reporters, Bob who worked the crowds at cocktail parties. It was also Bob Tisch who created a growing New York social institution, the power breakfast. One favored spot for early morning conferences is the Loews-owned Regency Hotel on Manhattan's Park Avenue, where the rich and famous, along with people who merely aspire to be, can be found eating two eggs and bacon (price: $8.25).

The Loews chairman may have also been drawn to CBS by a desire to safeguard the independence of a network news operation. Says CBS Board Member Harold Brown: "Larry Tisch is a public-spirited citizen who is also a very shrewd businessman. He does have the public interest at heart. He regards the network as something to be protected from selfish or disruptive or repressive influences."

Perhaps Larry Tisch has an equally strong impulse to seize control when he believes himself to be in the right. Whether he will interfere with the TV network's independence remains to be seen. Said one CBS board source: "He does not want to be seen as somebody who dominates with his opinions what should be a public service. But he's not perfect, and it's up to the board to watch this."

How long will the board have to keep watching? That is anyone's guess. Though Tisch says, "I hope I'm connected with CBS for the rest of my life," he insists he will stay in the chief executive post only during a "brief transition period." Unless, of course, he discovers that he enjoys being a public figure in the limelight more than he ever thought he would.