Word: mergers
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...nearly seven years since Time Warner was formed, its stock has trailed the market badly, up 32% while the Standard & Poor's index has risen 100%. The merger may help. Time Warner rose 5.7% last week, to $41.75. Part of that may be due to Turner's advent, but it also reflects Levin's promise that he's ready to purge the company's onerous level of indebtedness...
...feud. Murdoch has charged that Time Warner reneged on an agreement to carry the Fox News Channel on its cable systems, opting for MSNBC instead. (Time Warner had been required by the Federal Trade Commission to pick up one CNN competitor in order to win approval of the Turner merger.) This was a blow to Murdoch's hopes of expansion, since it means he will be blocked from Time Warner's almost 12 million cable homes--most crucially those in New York City, where Fox is based. Last week Murdoch filed a $2 billion antitrust suit and enlisted Mayor Rudolph...
...eating virus had got hold of the newspaper industry. Nearly every month brought fresh evidence of decay, proof that a major contraction, driven by skyrocketing costs for newsprint, was occurring among papers large and small, famous and obscure. In January the Milwaukee Journal and the Milwaukee Sentinel announced a merger, destroying about 500 jobs--and creating yet another one-newspaper town. In March the Fort Worth Star-Telegram abandoned its all-day edition. In April the Houston Post walked off the field, leaving its rival, the Chronicle, with the run of the city. Knight-Ridder then announced plans...
Since I make my living online--at Pathfinder, an enterprise that will be working mouse in glove with CNN thanks to the merger of Time Warner with Turner Broadcasting--I thrill to any evidence that people are turning to their information appliance, the PC, when they need news fast. Like spaceships sent out to seek havens for a doomed civilization, mainstream media are trying to colonize cyberspace, but the early returns are mixed and revenue streams narrow. A few daring publishers have begun--apostasy!--billing visitors to their sites. The Wall Street Journal Interactive, for instance, announced last week that...
...more complex as the company that owns us has grown. Back when we were a small company, our reviewers could, for example, assess a book published by Little, Brown (long owned by Time Inc.) without having anyone (including the reviewer) pay the slightest attention to the connection. Since the merger with Warner, we face a lot more suspicions...