The other camp believes that such an approach seriously jeopardizes diversity of ownership, forcing out smaller broadcasters, including family companies and those owned by members of minorities, that cannot compete with the broadcasting giants.

Suddenly thrust into the broadcasting giant's corporate culture at Rockefeller Center, Mr. Li said he found it "kind of difficult to get used to such an environment."

The exhibition is produced by Clear Channel, a global music and broadcasting giant, which has also moved in a big way into theatrical production, arena shows and museum blockbusters.

NHK, Japan's broadcasting giant, abandoned its plan for a worldwide 24-hour news service that would have competed with Cable News Network.

The broadcasting giant said its net income fell to $56.1 million, or $2.18 a share, in the three months ended March 31 from $911.3 million, or $35.34 a share, a year earlier.

Along with several other high-level promotions, the broadcasting giant last week named Robert A. Iger, the 42-year-old head of its ABC network, as heir apparent to Daniel B. Burke.

Clear Channel Communications, the broadcasting giant that has been the target of obscenity fines by a more vigilant Federal Communications Commission, was a particularly active spender last year.

But the broadcasting giant said that television network operating profits lagged behind the 1986 results.

Although more than two-dozen concerns initially voiced interest, parties close to the process who spoke on condition of anonymity said the list was down to about a dozen, including such broadcasting giants as Disney and Paramount.