Word: merger
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Dates: during 1990-1999
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...radically hobble his natural cowboy operating style: since then, mortifyingly, Turner has had to get his board's approval whenever he wants to spend more than $2 million. In 1989 they told him he couldn't buy the Financial News Network, and in the past year they forbade his merger discussions with Capital Cities/ABC. The Castle Rock and New Line deals displeased his Time Warner board members, but evidently not enough to make them raise a serious ruckus. So Turner's movie-studio obsession has come full circle: buying into Hollywood now is a burst of old-fashioned Turner independence...
...McCaw merger, which ranks as the fifth largest in U.S. corporate history, raises the ante in an industry that is being radically reshaped by emerging technologies, falling regulatory barriers and a series of powerful partnerships and alliances. It comes only weeks after phone giant British Telecom spent $5.3 billion for a 20% stake in MCI Communications, the second largest U.S. provider of long-distance service, and it closely follows U S West's $2.5 billion investment in media conglomerate Time Warner. Although the merger is praised by consumer groups because it could lead to lower phone rates and innovative products...
...merger turned out to be the richest -- and luckiest -- deal in McCaw's life. The two companies had first spoken of the arrangement last November when AT&T agreed to acquire 33% of McCaw Cellular of Kirkland, Washington, for $3.8 billion. Negotiations stalled, however, over the issue of how to divvy up strategic decisions and future profits. The solution of buying all of McCaw, rather than just part of it, might not have been possible a few months ago. Fortune intervened, however, when the value of AT&T's stock rose 46%, or $26.5 billion, between November and two weeks...
Although Ferguson will try to shoot down the deal, the AT&T-McCaw merger looks as if it may fly. While the Justice Department has yet to give the two companies the go-ahead, the FCC has in the past looked favorably at such transactions. If the agency does not approve, it can expect to be swiftly inundated with demands from the rest of the industry to be saved from the competitive behemoth that technology has spawned...
...HOME SHOPPING NETWORK: The dueling purveyors of zirconia gewgaws announced a merger this month...