Word: mergers
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...main funding source, a $5 term bill charge to all female undergraduates, will disappear after this year. With the merger, the student government of the formerly all-female college must open its voting ranks...
...agreed that if any deal were to happen, it would be a merger of equals, although Viacom is clearly the acquiring party. "I had always thought of CBS as a network," says Redstone. "But it's much more than that." Redstone saw a good fit. CBS was strong domestically; Viacom was growing fast internationally. And shareholders had long expressed concerns that Redstone, who remains in fine fettle, had no clear successor. Karmazin, a darling on Wall Street for driving up the stock price of CBS, and of Infinity Broadcasting before that, would neatly resolve that issue...
...television viewers, the merger should result in an explosion of cross promotions. Don't be surprised to see plugs for NFL football on MTV or specials about upcoming Paramount pictures airing on CBS. Hollywood producers fret that corporate priorities could distort programming decisions. "This can stifle creativity," says Brad Grey, chairman of management firm Brillstein-Grey and producer of HBO's The Sopranos. "These large companies want to put their own shows on the air first and foremost...
...changed? Better to ask what didn't change, and the answer is that at age 76, Redstone, whose heart rate is lower than that of many pro athletes, remains a driven dealmaker obsessed with staying ahead of the pack. CBS chief Mel Karmazin may have "seduced" Redstone into this merger, as both sides note. But Redstone was looking for love. He almost always...
...Most U.S. homes and every last dorm room and office have high-speed connections to the Net; a wired nation surfs an endless array of digital infotainment, and--sorry, Sumner--the '80s-era conglomerates brimming with vertically integrated synergy are about as relevant as rabbit ears. The Viacom-CBS merger "has the feel of a nostalgia purchase," says Paul Saffo of the Institute for the Future. "It's as if you're out hiking, and a mastodon pops up in front...