Word: broadcaster
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BEEN THERE, DONE THAT (St. Martin's) "I had more consecutive hit records than the Beatles or Elvis Presley," crows Eddie Fisher in his new memoir, co-written with David Fisher (no relation). "I had 65,000 fan clubs and the most widely broadcast program on television and radio." Still, Fisher is most remembered as a husband--first to Debbie Reynolds, then to Elizabeth Taylor, then to Connie Stevens. When he left Reynolds for Taylor, it was a national scandal; when Liz left him for Richard Burton, it was an international ruckus. Yet Fisher, now on his fourth marriage, never...
...landscape where to stand alone is to stand in a hole. "The reason you're seeing so much anxiety everywhere else is that everyone else wishes they'd done it," says Howard Stringer, CEO of Sony Corp. of America, a record company and movie studio that still lacks a broadcast network...
...Viacom comprises a panoply of media, ranging from talk radio to roadside billboards and including just about anything and everything that can carry or broadcast an advertisement. That's what has Wall Street applauding the deal. "It will be a one-stop shop," says PaineWebber analyst Chris Dixon. "Ad buyers can come to them for TV time, billboards, radio ads." CBS has also developed a significant Internet presence. That kind of concentration will give Viacom pricing power too. Dixon, like most analysts, forecasts 18% to 20% increases in cash flow to $5 billion in 1999, and combined revenues above...
Time Warner, parent company of TIME, is currently the biggest media company in the world, with assets including cable, broadcast, a movie studio, book publishing, a magazine division and the fledgling WB network. And the Viacom-CBS deal has again piqued the longstanding yearning of Time Warner vice chairman Ted Turner (who once made a run at CBS) to buy NBC, the only major network not affiliated with a Hollywood studio. That's not likely to happen, since Time Warner chairman Gerald Levin seems satisfied with the WB and the company's collection of cable networks...
Well, maybe--except the coming broadband Web seems expressly designed to hasten the demise of Viacom's broadcast-media landscape. "I don't understand how the [TV] networks get bigger," says Joe Krause, senior vice president of content at Excite@Home, one of the broadcast world's likelier rivals. "I only know how they get smaller...