OTHER NEWS - March 8, 1995

LIN Broadcasting Stake Valued at $3.3 Billion: The wireless communications firm is 52%-owned by AT&T;, which is weighing whether to buy the rest. The investment banking firm Wasserstein Perella & Co. valued the shares at $127.50 each, or about $6.8 billion, and $3.3 billion for what AT&T; doesn’t already own. The valuation is almost exactly halfway between appraisals commissioned by the two companies. LIN said it was disappointed, and analysts said the relatively low figure could affect the prices of other wireless concerns. AT&T; ended up with a stake in LIN through acquiring McCaw Cellular, and most analysts expect it to buy the rest. If AT&T; decides against the purchase, it must put up McCaw’s 52% LIN holdings for sale under the direction of LIN’s independent directors.