Word: diller
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Dates: during 1990-1999
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Viacom Inc., which owns MTV and other show businesses, announced a planned $8.2 billion acquisition of Paramount Communications. But at week's end two other TV titans -- QVC chairman Barry Diller and Turner Broadcasting -- were reportedly considering their own, separate bids for Paramount...
...share in cash and stock and thereby create one of the world's media giants.Since Redstone would hold 70% of the voting stock of the combined company, he would have majority control of more movies, books and television shows than any other media mogul--unless Ted Turner, Barry Diller or one of the other rival suitors now circling the Paramount building comes forward and derails the merger...
...Diller, the transaction will provide QVC with the financial strength to withstand an onslaught of new competition from big department stores like R.H. Macy and Nordstrom, all of which have announced plans to enter the home- shopping business. Combined, QVC and HSN will generate about $147 million in annual cash flow, which would come in handy to finance Diller's dream of taking TV shopping to its next evolutionary stage: making it interactive. An advanced interactive system would let viewers browse through a sort of "video catalog" of a store's merchandise and place orders on-line and on-screen...
...combine shopping and entertainment. They envision the channel, dubbed Best TV by company executives, running, say, an hour of country-music videos featuring C.-and-W. stars like Clint Black and Garth Brooks, followed by a segment devoted to selling cowboy boots and other Western-style apparel. But Diller is not yet totally convinced that such synergy exists. "You won't see dancing and singing toasters...
...deal likely to create a giant broadcast marketplace, QVC Network, headed by former film mogul Barry Diller, offered to take control of its only serious competitor, the Home Shopping Network, for an estimated $1.2 billion in stock...