COMPANY TOWN ANNEX

CBS, NBC Unfazed by ABC-Dream Team Venture: Executives at the two networks broke their silence on the 2-day-old joint venture between ABC and Jeffrey Katzenberg, Steven Spielberg and David Geffen to create prime-time and syndicated television shows. Both networks said they do not feel threatened by the alliance. “It’s a lot of nice fairy dust for Wall Street,” said NBC West Coast President Don Ohlmeyer. “I think all it is an extension of ABC Productions, with the three of them as program executives.” CBS Entertainment President Peter Tortorici said: “Anything that has the potential of equitably distributing risk and reward is good and wise. Whether this is a good instance of this happening, I don’t know. I don’t know enough about the deal.”