Word: mergers
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Dates: during 1990-1999
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Westinghouse Electric Corp. chairman Michael Jordan looked to boost his Group W broadcasting division last week by pursuing a $5 billion merger with CBS Inc., sources said. Representatives reportedly met on Friday morning to begin negotiating terms for a forthcoming offer, which would create the largest TV-station group in the country, reaching more than 32% of all TV homes. Chemical Banking Corp. and J.P. Morgan & Co. each has committed $1 billion in loans to Westinghouse...
Nobody in Hollywood can keep a secret -- exceptDisney chairman Michael Eisner. He stunned both Wall Street and the entertainment industry when he announced this morning thatDisneywill acquire Capital Cities/ABC in a $19 billion merger. The deal would be the second-largest takeover in U.S. history (behind the $25 billion takeover of RJR-Nabisco in 1989) and the largest ever in the media business. Getting hitched to family-friendly Disney may mean top-rated ABC will see its competitors exploiting new counterprogramming opportunities. "I think ABC will probably steer away from the more lurid programs, which might make the other networks...
...electric guitar; after collapsing while preparing to travel to a Nashville birthday concert; in Mahwah, New Jersey. OUSTED. G. KIRK RAAB, 59, president and ceo of biotech giant Genentech; following the revelation that he had requested a personal $2 million loan guarantee from Roche Holding Ltd. while negotiating a merger with the firm; in San Francisco. During Raab's five years at Genentech, the company's revenues nearly doubled. But shareholders have been growing restive over earnings and the terms of the Roche deal. Thus the board may have been looking for an excuse to remove Raab...
Nowhere has the transformation of the teaching hospital been more dramatic than in Boston. Last year, in the medical merger of the century, Massachusetts General Hospital hooked up with Brigham and Women's Hospital; they had been ranked No. 1 and No. 2 in federal research dollars received. A few months earlier, Daniel Tosteson, dean of the Harvard Medical School, with which both hospitals are affiliated, wrote that "no single institution has the resources required to respond effectively to managed care and other external pressures ... while at the same time maintaining excellence across the full range of services...
Prior to the merger, Harvard Planning provided design and construction expertise and Harvard Real Estate managed the nonacademic properties...