Word: mca
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...monetary bench mark like Jackson's becomes the standard by which every star in town measures his or her ego. "The bigger the deals get, obviously everybody starts to shoot for the moon," says Bob Krasnow, former chairman of Elektra Records who now runs his own record label for MCA. "The marquee value of a well-known artist's name means a lot." Accordingly, R.E.M., the Rolling Stones and Paul Simon--all of whom have deals that are close to expiring--will probably soon be shopping for heftier contracts...
...shake-up inspired talk that Sony (1994-95 sales: $44.8 billion) might now follow the lead of fellow Japanese giant Matsushita, which sold control of MCA and its Universal Studios to Seagram last April for $5.7 billion. "The real significance of Schulhof's ouster is that it is the last nail in the coffin of synergy between hardware and software," says analyst Porter Bibb, who follows the entertainment industry for the firm Ladenburg, Thalmann. "You can count the days until the movie business is sold...
...eliminate its poison-pill defense against takeovers, which kicks in when a shareholder acquires 15% or more of the company's stock, and reportedly declined to put Malone on its board. Without the poison pill, a large shareholder such as Malone or Edgar Bronfman Jr., who heads Seagram and MCA and controls 14.9% of Time Warner, could gobble stock and launch a hostile bid for the company. (Bronfman's stake would drop to about 9% after the merger...
...landmark. Mitsubishi will transfer title to Rockefeller Center Properties Inc., the trust that holds the $1.3 billion mortgage. The Mitsubishi decision is the latest of several ill-fated high profile real estate purchases by the Japanese, including the purchases of the Pebble Beach Golf Course in California, the MCA studios in Hollywood, and several commercial properties in Hawaii. "These investments are classic real estate micalculations," says Moody. "They bought high and had to sell low. This is something most homeowners try to avoid...
...purchase of Warner Communications five years ago--and in the past year has seen stability of the huge Warner Music division sundered by the departure of six top executives. At year's end he may face another loss, if Warner Bros. movie co-chairman Terry Semel defects to run MCA...