BARRY AND LARRY WANT CBS-QVC UNION
CBS chairman Laurence Tisch and QVC head Barry Diller said "the Tiffany network" would almost certainly go ahead in its surprise merger with the home-shopping giant. The result, to be finalized July 13 barring unforeseen snags, will be an altered TV landscape in which a top-rated network has substantial interest in cable. Investors are buying in: even before the official announcement, CBS stock shot up $48, to $311, and QVC's rose $6, to $38.
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RAY KELLY, New York City Police Commissioner, on the arrest of a New Jersey man in one of the nation's most baffling missing-children cases, the disappearance more than three decades ago of 6-year-old Etan Patz.
