Word: dillers
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...would call Lowell (Bud) Paxson a dimwit. He is an unusual sort of TV executive, certainly: a born-again Christian who makes more money than headlines and counts among his achievements the Home Shopping Network, which he sold for a bundle in 1992. Nor would Barry Diller, a genuine TV honcho who makes a lot of money and headlines, qualify as anything less than bright. But each is about to embark on what would appear to be a fool's errand: starting a new television network in an era in which audiences are fragmenting and network profits disappearing. Paxson...
...Diller, the free-lance mogul and former chief of the Fox network has long been the topic of one of the TV industry's most popular guessing games: What will Barry do next? Since leaving Fox in 1992, Diller has dabbled in home shopping, proselytized for the digital revolution, failed to buy Paramount and, last February, succeeded in acquiring the majority of Universal's TV operations. Despite persistent rumors that he is in the market for a major network, such as CBS, Diller says he is more interested in fashioning his latest collection of TV properties--including the USA cable...
...shows and major sports events have soared (CBS just paid $4 billion for eight years of American Football Conference games--more than double the cost of the last contract) and advertising-rate increases have started to flatten. "The big-gauge networks are like Detroit in the 1970s," says Diller. "In the next three years, they will all be confronted with a massive retooling effort...
WHOM YOU'LL SEE About 300 of Wall Street's and Hollywood's most powerful and famous (and about 100 of their glittery offspring). This year: Rupert Murdoch, Bill Gates, Warren Buffett, Andy Grove, Barry Diller, Michael Eisner, Diane Sawyer (a longtime friend of Allen's), John Malone, Geraldine Laybourne, Diane von Furstenberg and Jerry Levin...
...words and phrases like "synergy," "21st century" and "content is king" flew about, all three principals seemed as energized by one another as by the prospects for their partnership. Imagine the giddy, self-important friendships of high school; then imagine a high school in which the upperclassmen are Barry Diller and Michael Eisner, and you will begin to get the picture...