Word: mca
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That is the working name of a tourist attraction being planned by Sony Corp., the owner since 1989 of Columbia Pictures Entertainment. The proposed Sonyland would be a direct challenge to the theme parks of the Walt Disney Co. and MCA's Universal Studios, which serve their owners not only as profit producers but as persuasive corporate advertising as well. Sonyland will feature the products of its parent company and its motion-picture subsidiary. The opening date, location and specific amusements of Sonyland remain a mystery. One of the rumored attractions: a ride featuring the pirate ship from Columbia...
...commercialism encroaching on the nation's wild lands a good thing? If it is, who should reap the profits? Those issues gained new urgency last week, when Matsushita, the Japanese electronics giant, took control of MCA, the California-based entertainment conglomerate. MCA -- and now Matsushita -- owns the Yosemite Park and Curry Co., which operates the park's lodging facilities, restaurants, shops and services. In 1989 those concessions generated about $78 million in sales and an estimated $14 million to $17 million in profits. But under its sweetheart contract with the National Park Service, the company had to pay the government...
...park-concession company to a U.S. firm within a year. But that pledge was not enough to satisfy Interior Secretary Manuel Lujan Jr., whose department includes the Park Service. Lujan threatened to cancel the Yosemite company's contract, which still has two years to run, on the ground that MCA and Matsushita did not get government permission to change the management of the concessions. The Interior Secretary appears to be playing rough in an effort to persuade Matsushita to donate the park company to the government or to sell the operation to a nonprofit group at a below-market price...
...sale of MCA to Matsushita stirs a debate over who should reap the profits from tourism in America's national parks...
Solid-Gold Mogul Music-and-movie hitmaker David Geffen made a shrewd move in April when he sold his record label to MCA for about $550 million of that company's stock. Just seven months later, when Japanese giant Matsushita bought MCA, the value of Geffen's holdings zoomed to $700 million. It's all in the timing...