Spectator Let's Not Make a Deal

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6. Cosby has recruited a golden boy to run NBC with him. Wussler was a wunderkind back in 1976 when he became president of CBS, a job he managed to keep for just 18 months. Wussler next joined Ted Turner, for whom he pushed the doomed, capricious attempt to buy CBS. Wussler's last job was at the satellite-communications firm Comsat, where, most notably, he spent millions to bail out a pair of black businessmen who wanted to own Denver's N.B.A. franchise.

7. GE must be negotiating with Cosby. A Cosby associate says the timing of their bid depends on "the availability of the GE people," suggesting that continuing discussions are on hold. But there have been no discussions. Cosby did talk to both Wright and GE chairman Jack Welch at two social events during the past two months, but they've told associates he said nothing to them about buying the network.

8. GE has taken a bath on NBC. In the seven years since GE bought RCA, of which NBC was a part, the company has sold off the NBC radio stations and RCA's substantial defense businesses. Thus, in the end, the company has paid relatively little for NBC itself -- probably no more than half the $6.4 billion figure routinely quoted in news stories. GE expects NBC's profits this year to be $350 million, up 70%.

9. But once the fall season starts, and NBC remains in third place with failing new shows like Cafe Americain and failing old shows like Tonight, GE may feel less committed to the TV business. Sometimes the conventional wisdom can be correct.