Word: firmed
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Dates: during 1980-1989
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...latest move, some media analysts warn of a potential conflict-of-interest problem: TV Guide, after all, will be reviewing Fox Television shows. "TV Guide is the dominant medium for program promotion," argues Andrew Jay Schwartzman, executive director of the Media Access Project, a Washington-based public-interest law firm. "The potential for abuse is considerable...
Murdoch's holdings may sprawl over four continents, but there is a clear pattern. "Everything is English-language related, global related and media related," says John J. Veronis, head of Veronis, Suhler & Associates, the investment-banking firm that brokered the Triangle deal. Adds Investment Banker Steven Rattner of Morgan Stanley: "Other U.S. media are exporting their products, but Murdoch is the only one buying indigenous communication systems and linking them together...
...enough cash flow -- $1.2 billion last year -- to cover the interest payments. Murdoch was one of the first to recognize that media companies, which are traditionally asset poor but cash rich, have been tremendously undervalued by the market, observes Analyst Tony Pennie of James Capel, a London-based investment firm. Says he: "That's why Murdoch often pays prices that would frighten other people...
...betting against Murdoch's global vision because the media magnate controls such an effective power base. News Corp. earned $560 million on $3.5 billion in revenues in 1987. Yet Murdoch can run the huge corporation like a family firm because he and his relatives own half its shares. And that is not going to change anytime soon. News Corp. has issued very few new shares since 1954. Besides, with no more than 40 corporate staffers, News Corp. is so lean that Murdoch can strike his targets quickly. He and Annenberg first talked about a deal over lunch at the Triangle...
...team of five top University officials plotted legal strategy for Harvard's case. Two lawyers from the Boston law firm of Ropes and Gray, Nelson G. Ross and David M. Mandel, were the University's main counsel. Vice President and General Counsel Daniel Steiner '54 arrived on the scene Tuesday, and bounced back and forth from his seat in the audience to give whispered advice to the lawyers...