Word: merger
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Dates: during 1990-1999
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...made a number of minor acquisitions, including Paradyne, a modem maker, and Istel, which customizes computer systems. But AT&T never managed to capture more than 3% of the market, and losses have mounted to as much as $3 billion. Rumors began to swirl about a possible merger as a quick fix. Among the known targets: EDS, Sperry, Digital Equipment, Wang and Data General...
...long after the Columbia deal, Matsushita sought out Ovitz to lead the company's search for a major acquisition. The Japanese company first sent a group of top executives to meet with Ovitz in Hawaii, where they talked about everything from world politics to prospective merger partners. A team of CAA experts then prepared a list three possible targets. The Japanese company rejected one studio, Orion, as too small. Another candidate, Paramount, was dismissed because some of its holdings, ranging from publishing (Simon & Schuster) to sports (the New York Knicks), didn't fit into Matsushita's strategy. Ovitz recommended...
Ovitz orchestrated the merger with cool precision. To avoid the bickering that marred the Columbia deal, he handpicked the law firm, investment bankers and public-relations agents to represent Matsushita. He then served as a shuttle diplomat between the two companies, anticipating problems before they could grow. When the merger was clinched, Ovitz joined the army of 100 dealmakers at Matsushita's law firm in Manhattan for a 9:15 a.m. champagne toast. For Ovitz's work on the merger, Matsushita could eventually pay CAA as much as $40 million. The sum aroused the green-eyed envy of deal-starved...
...while, the Chancellor's popularity rose with the deft handling of the complex negotiations that brought about merger in October. Unity, said the liberal weekly Die Zeit, "rescued him." It also obscured all other issues. The theme of unification, says Elisabeth Noelle-Neumann, head of the Allensbach polling institute, "was completely constant from the onset of the campaign, dominating it to the exclusion of any other everyday issue." The juggernaut rolled over Lafontaine...
...After a merger with a satellite TV rival in Britain averts a cash crisis for his sprawling News Corp., the global multimedia tycoon looks to video more than print for the future...