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THE PRESIDENT HAS SEEN NEWS SUMMARY May 3, 1973 (Wed. nets, wires, columns) Watergate stories dropped in prominence compared to recent nites. While nets all had about 10 minutes, none led w/the story. ABC/NBC -- latter w/5 minutes -- began w/the Connally switch. And CBS led w/"some tightening" of Ph. 3. ABC called it "a move against inflation;" NBC saw it as largely geared to show RN was attwork on other matters than Watergate while CBS called it "steady as we go" approach calling for more patience w/a policy remaining basically the same. Shultz on film on all. CBS then had a mixed 3 minutes on food price levels compared to 3/1 and 4/1. The other major news: - Film on all nets as JBC made what is widely called "long expected" move. Sharply critical of Watergate, he emphasized it should not be blamed on party as a whole. And he said he had no plans to come to DC. His denials of 176 plans were skeptically received as all nets noted his move at this troubled time should win gratitude of both RN and GOP. All nets noted expanded role in domestic affairs for Veep ABC/CBS noted RN anger w/Percy for using his drive on 176 presidency in pushing independent prosecutor after RN has given power for such a selection to Richardson In a spirit unprecedented over his past year of criticism of RN, and particularly contrasting w/his London speech at Inaugural, McG on film on all nets urging Dems not to exploit Watergate and accepting RN's non-involvement as he said all must help the nation's elected leader in these "difficult days" as he struggles to restore his leadership. McG said he has no joy over RN's problem and "w/him, I hope it's soon resolved so we and he can" debate nation's future on other and better issues.