Word: mergers
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...imagined that getting the Federal Trade Commission to bless the merger between Time Warner and the Turner Broadcasting System, two giants in the multibillion-dollar cable-TV business, would be a walk in the park. So it was hardly a surprise last week when leaks emanating from the FTC suggested that agency staff members favored blocking the $7.5 billion merger in its current form. Whatever the staff's inclination, the actual decision to approve or block the deal will be made by the five Federal Trade Commissioners. And they have yet to speak...
...second largest cable system, and Turner, which controls CNN, TNT, the Cartoon Network and TBS, remain publicly confident that the deal will ultimately be approved. If the commission should require either the sale of certain Time Warner or Turner assets or other major changes in the deal, then the merger could be in trouble--in no small part because Tele-Communications Inc., the nation's largest cable operator and an important Turner shareholder, retains the right to veto any changes it deems not in its own interests...
...study is just as relevant now because very little has changed since then, there has been at least one fundamental change--at the time of the last study, women undergraduates still attended Radcliffe College. It is a grave problem that the impact of the major structural change of the merger between the two colleges in 1977 has not been examined. Women have only attended Harvard for a fraction of its history--how are we faring...
Garrison Keillor deftly nailed the repercussions of corporate downsizing [ESSAY, April 22] and validated many of the emotions that people where I work are experiencing post-merger. The nirvanic green world that beckons out there is a place from which many of us unwittingly withdrew years ago. Now Big Business waits quietly in a dark cloak carrying a scythe. It stalks the very elements that made it profitable and yielded it market share--its people who have labored so hard. The parvenues of "new management" will wring out every last drop of dedication from the drones in the name...
Such hymns to synergy grate on the loose coalition of consumer advocates, labor and industry groups fighting the merger. "The industry is moving in the exact opposite direction of competition," fumes Bradley Stillman of the Consumer Federation of America. He may not be factoring in the World Wide Web, the information network that links computers and perhaps eventually phones and televisions. Bell Atlantic, says Smith, will offer Internet access and Web-based software even as it fights for long-distance, cellular and wireless turf. "This is not going to be a fight over plain old telephones," he vows...