Word: bidness
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Dates: during 1980-1989
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...Harvard lightweight crew lost out on its bid to win its first-ever national title June 11, finishing behind Princeton and Yale at the Empire State Regatta on the Hudson River in Albany, N.Y. The Crimson had swept the Tigers and Elis in the Goldwaithe Cup and the Eastern Sprints earlier this year but, hampered by the loss of seven-man Ted Marple to tendonitis, the Crimson finished 2.2 seconds behind Princeton...
While Time said it would give the Paramount bid a fair hearing, as the law requires, there was every indication that Time's top executives would fight to repel the intruder. In a three-page "Dear Mr. Davis" letter, Munro chastised the Paramount chairman for breaking his spoken agreement to leave Time alone: "On a personal level, I'm disappointed that I can't rely on you as a man of your word. Live and learn." Munro said the Paramount offer consisted of "smoke and mirrors," since it was subject to several conditions that included Paramount's ability to obtain...
While rumors had circulated for months that Davis was preparing a bid, Time executives counted on his promise of noninterference. "He's on the telephone to us almost every day," a senior Time officer said several weeks before Davis made his move. "He's just unhappy that he's been left out. He can't stop kibitzing." All the while, however, Davis was preparing his attack under the code name Kronos, for a Greek god associated with time. Davis was advised by Robert Greenhill, vice chairman of the Morgan Stanley investment banking firm, which is now Paramount's chief adviser...
...Washington, where Congress and regulatory agencies had already given their blessings to the Time-Warner transaction, legislators adopted a wait- and-see attitude toward the Paramount bid. Ironically, approval of the Time-Warner merger could make it easier for a Time-Paramount deal to win acceptance, since the two combinations are similar. But a senior congressional aide called such speculation premature. Said he: "The Paramount bid is just the opening move in a game of chess...
BUSINESS: A bid for Time Inc. stirs a clash of the titans...