Word: mergers
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...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...
...bound to be international. Nine years ago, Hilton's international properties were sold and are now owned by Ladbroke's, a British gambling concern. Bitter disputes followed, especially after Hilton began opening overseas hotels called Conrad. Both companies could benefit from a joint marketing agreement, if not a merger...
WASHINGTON, D.C.: A federal transportation board approved the formation of the country's largest railroad company Wednesday despite opponents' claims that the merger of Union Pacific and Southern Pacific would force out competition in the 25 states the two railroads serve. With the completion of the deal, just two railroads, the combined UP-FP and the Burlington Northern-Santa Fe, will control more than 90 percent of all freight traffic west of the Mississippi. Several smaller railroads had opposed the merger, and federal regulators had called the deal "the most anti-competitive rail merger in our history." But Union Pacific...