Word: matsushita
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Dates: during 1990-1999
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Imagine if two battling behemoths like King Kong and Godzilla decided to join forces. Talk about a knockout combination. That's how the entertainment industry reacted last week to the disclosure that Japan's Matsushita Electric Industrial, the world's largest maker of consumer electronics, is negotiating to buy MCA, the American show-business giant, in a deal that could be worth more than $7 billion. The acquisition would represent an even more titanic version of the hardware-meets-software combination pioneered by Matsushita's rival Sony, which bought CBS Records for $2 billion in 1988 and Columbia Pictures...
...Matsushita (1989 revenues: $44 billion) commands an array of brands, like Panasonic, Pioneer, Technics, Quasar and JVC. The company makes products ranging from stereos to refrigerators to bicycles to semiconductors. It is twice Sony's size, and developed the VHS videocassette format, which prevailed over Sony's Beta in a bloody competitive battle...
...could dampen consumer spending. High rates and the depressed stock market could also discourage capital investment by Japanese corporations. Virtually all equity financing planned by major Japanese firms was suspended temporarily last week in an effort to prevent bogging down the market. Companies ranging from Sumitomo Metal Industries to Matsushita Electric Industrial postponed major plans to raise funds...