Word: bronfmans
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...systems. But Time Warner refused to eliminate its poison-pill defense against takeovers, which kicks in when a shareholder acquires 15% or more of the company's stock, and reportedly declined to put Malone on its board. Without the poison pill, a large shareholder such as Malone or Edgar Bronfman Jr., who heads Seagram and MCA and controls 14.9% of Time Warner, could gobble stock and launch a hostile bid for the company. (Bronfman's stake would drop to about 9% after the merger...
...finally cornered his very own entertainment conglomerate, but who knew that MCA conqueror EDGAR BRONFMAN JR. was also cornering the market on torch songs? Next month three ballads co-written by the rookie media mogul appear on Intimacy, a new album by Bruce Roberts (the very same singer who made his living back in the 1970s as the musical voice of Danny Partridge on The Partridge Family TV show). And there's more: this coming February, Bronfman-penned lyrics to a song called To Love You More will turn up on pop-schmaltz goddess Celine Dion's new disc...
...owner of Turner Broadcasting said recently. "But I'm not going to show my hand. I mean, you didn't see Eisenhower faxing Hitler the plans for the invasion of Europe." John Malone, CEO of Tele-Communications Inc., has offered to help Turner buy a television network, and Edgar Bronfman Jr., CEO of Seagram Co., may get a piece of that action, too. NBC president Robert Wright, while announcing that he thinks parent company General Electric plans to stand pat, coyly valued his network at about $11 billion, adding, "We just got a lot more expensive." And of course everyone...
...block. Says he: "The good news is my company's a whole lot more valuable because the major players need content even more." Last week, too, there were rumors that Turner may be trying to regain greater control of his company. The speculation was that Turner, together with Bronfman, was hatching a deal to swap Bronfman's Time Warner shares for Time Warner's holdings in Turner Broadcasting...
...owner Edgar Bronfman Jr. nails down distribution deal with DreamWorks...