Word: merger
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Dates: during 1990-1999
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...suit, Anthony P. Monaco, Medawar professor of transplantation surgery, has said that the much-publicized merger of New England Deaconess and Beth Israel Hospitals may have contributed to his demotion...
...merger will restore Time Warner's mantle as the world's largest media company. Time Warner will be an $11.5 billion behemoth controlling a vast array of content, including Warner Bros. movies and TV shows, Warner Music, cable channels (such as HBO) and magazines (like this one), as well as Turner's cable channels (including CNN, TBS and the Cartoon Network) and mini-movie studios. As the country's second largest cable provider, Time Warner also owns the delivery truck for much of this content...
...Turner, the merger liberates his lofty ambition from the shackles of cash-strapped circumstance. After years spent as a relative small-timer, the mercurial entrepreneur finds himself vice chairman of Time Warner, at the center of the world's largest programming engine...
Time Warner CEO Levin, meanwhile, having pulled off his dream deal, now has a firmer grip on his job, which had been considered tenuous while the merger was pending. Levin's reign has been marked by corporate turmoil, chaos in the Warner Music division and slower than promised reduction of Time Warner's $15 billion debt. The acquisition increases that figure to $17.2 billion, but increased cash flow will ease the debt service. Now Levin has to prove that his strategic vision can generate returns for the shareholders, who, since he took over in January 1993, have watched Time Warner...
...brutal trench warfare over ever slimmer slivers of market share; the game is to control maximum channels in order to ensure a sufficient outlet for ever growing streams of new and recycled programming. Thus Disney buys Capital Cities/ABC; Viacom buys Paramount and launches UPN; and so on through the merger-mad '90s. "The best way to beat back competition," says Gary Arlen, founder of the research firm Arlen Communications, based in Bethesda, Maryland, "is to have your own content and make sure your vertical integration gets the FTC's approval." For Levin, it's so far, so good...