This Day in Financial History - February 10 . . .

1989 - The Ford Motor Company announced a 1988 net income of $5.3 billion, a world's record for an automotive company. The record served to mark the return to triumph of the U.S. automotive industry after the doldrums of the 1970s and early 1980s. Source:

1997 - After years of sitting out the cable television boom, network veteran CBS finally entered the fray on this day in 1997, as its parent company, Westinghouse Electric Corporation, brokered a deal for The Nashville Network (TNN) and Country Music Television (CMT). Under the terms of the agreement, the appliance and media giantís Westinghouse/CBS unit handed over $1.5 billion in stock to TNN and CMTís owner, Gaylord Entertainment. For CBS, this was seemingly a small price to pay for gaining a sizeable, if belated, toehold in the cable industry: as of 1997, CMT reported a subscription base of over 38 million viewers, and TNN was broadcast in over 70 million homes. And, by acquiring TNN and its popular NASCAR stock car programming, CBS picked up a potentially valuable property for its sagging sports division. While the tax-free deal made strategic sense for CBS, it was payday for Gaylord, as well as an opportunity for the cable company to expand the reach and visibility of its music and lifestyle networks. Source:

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