Word: bros
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Dates: during 1990-1999
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...deal's ancillary elements can make it tricky to assess. Warner Bros. signed Madonna to a $60 million deal and even gave the Material Girl her very own record label. Madonna's last few records have sold only about 3 million copies apiece, substandard for her, but the deal's overall returns look better because her private label has fared well (its latest success: imported Canadian diva Alanis Morissette, whose Grammy-nominated CD Jagged Little Pill has hit No. 1). The Rolling Stones' two albums since their 1992 $35 million contract with Virgin have had mild sales, but the fact...
Despite the fact that he signed a seven-figure deal once (for a Warner Bros. movie on his life), Lech Walesa is going back to the shipyard. The former Polish President has moved to Gdansk, and intends to return to his old place of employment. If he's really lucky, he may earn almost as much as his state-supplied bodyguard...
...shake-out has already led to bankruptcy filings by such regional discounters as Caldor, Bradlee's, Jamesway and Edison Bros. Stores, whose core clientele are overleveraged households earning $30,000 to $50,000 a year. "This group is under extreme pressure, and the retailers who cater to it are in a recession," says Mark Zandi, chief economist for Regional Financial Associates, a Pennsylvania consulting firm...
...Moonves, the highly regarded former head of Warner Bros. Television who became president of CBS Entertainment in July, admits the network made some programming mistakes--among them, trying "to change the demographic profile of the network too much, too fast." CBS's traditionally older audience simply did not go for hip young shows like the much hyped Central Park West. "It should have been aimed a little more middle-of-the-road," says Moonves. Yet he is predictably upbeat about the chances for a CBS turnaround: "There's a change in attitude and morale. Everybody is feeling like this...
After just six months on the job, Warner Music Group chief Michael Fuchs was ousted by Time Warner chairman Gerald Levin. Warner Bros. co-chairmen Robert Daly and Terry Semel will take control of the record company. And on the publishing side, both TIME and SPORTS ILLUSTRATED got new managing editors: Walter Isaacson for TIME and Bill Colson for SI. TIME managing editor Jim Gaines will become corporate editor...