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Executives of both companies expressed great delight last year when Capital Cities Communications (est. 1985 sales: $1 billion) agreed to buy the four-times-as-large American Broadcasting Cos. for $3.5 billion. Still, few experts were surprised last week when Fred Pierce, 52, resigned as ABC president only days after the merger officially took effect...
...year ABC veteran, Pierce became president in 1983. Though he ran the network during the 1970s when it climbed to first place in the prime-time ratings race, Pierce also presided over ABC's recent slump to third place. In an effort to reverse that slide, Pierce last November appointed Brandon Stoddard, who headed the company's motion-picture operations, president of ABC Entertainment. He is expected to keep that post...
Capital Cities moved quickly to replace Pierce with one of its own. It named John Sias, an executive vice president who has been running the Capital Cities publishing division, president of ABC. Pierce will leave ABC a wealthy man. He held stock worth $4 million at the time of the merger, and will receive $2 million still owed him under a contract that runs through 1989. CORPORATE NAMES From the Plow to the Stars...
Competition for the journalist's berth is fierce. Although ASJMC would not reveal the names of any applicants, those vying to become the first reporter in space were rumored to include NBC Anchorman Tom Brokaw, The Right Stuff Author Tom Wolfe and ABC White House Correspondent Sam Donaldson. Former CBS Anchorman and veteran Space Reporter Walter Cronkite proudly announced that he was in the running. To be considered, applicants must be U.S. citizens and have five or more years of full-time professional experience reporting contemporary events in print or on television or radio. There is no age limit...
...that is, and maybe even in another life. On location in the Peruvian Andes, Shirley MacLaine, 51, found herself and her script embroiled in an intercultural tussle involving extraterrestrials and ancient monuments. (No, Steven Spielberg is not the producer.) The project is Out on a Limb, a five-hour ABC mini-series for November based on her 1983 autobiography of the same title. Citing passages where MacLaine suggests that Machu Picchu and the giant desert drawings known as the Nazca Lines were made by visitors from outer space rather than by the Peruvians, the National Institute of Culture accused...