Word: merger
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Dates: during 1990-1999
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...been quite vocal about its intention to acquire another U.S. company. The Germans perused the profit and loss statements of Simon & Schuster, owned by Viacom, and of HarperCollins, controlled by News Corp., but couldn't make a deal. For Bertelsmann, the world's third largest media company, the merger immediately establishes a long-sought commanding presence in the U.S., the world's largest media market. "Random House is a dream for Bertelsmann," says Thomas Middelhoff, 44, who engineered the deal just six months before officially stepping into the CEO's job. "I was as surprised as everyone else," says Sonny...
...merger raised the usual outrage about media concentration, with a dose of cultural xenophobia thrown in. But it comes at a time when the entire industry is struggling. While more titles are being published (68,000 in 1996), hardcover sales of adult trade books slipped nearly 7% from 1996 to 1997, and overall sales dropped 3.4%. Under corporate ownership, the cultural appeal of books began to give way increasingly to bottom-line considerations. Media czars, expecting books to yield the same 15%-to-20% profits as their other content businesses, have become impatient with their publishers' balance sheets, which seldom...
...YORK: You still can't buy stocks at the ATM. But the move toward one-stop, convenience store-style financial services just turned to a stampede with the announcement Monday of the $70 billion Citicorp-Travelers Group merger -- the biggest ever...
Just last week the American Stock Exchange and NASDAQ Stock Market confirmed that they are exploring a merger, likely to cost several hundred jobs. For different reasons, recently merged Salomon Smith Barney is cutting as many as 1,500 positions. Chase Manhattan, after combining with Chemical Bank in 1996, is laying off about 3,000. The Swiss Bank Corp. merger with Union Bank of Switzerland has prompted a flood of pink slips in New York City. There's been selective pruning at the merged Morgan Stanley Dean Witter Discover. And since Asia tanked, international firms, including NatWest Securities, J.P. Morgan...
Many cite history and science as this perfect merger of science and the humanities...