Word: mergers
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Wall Street wasn't sure who would be boss, but it responded emphatically. The day the merger was announced, the stock of both CBS and QVC rocketed 19%. It pumped up a QVC stock value that had been cut sharply after the Paramount sortie. And it brought Tisch's company almost back to its May level, before CBS got a black eye by losing eight of its affiliate stations to Fox. CBS had also suffered wounds from an earlier affiliate raid by Rupert Murdoch, owner of the News Corp. (which includes the Fox network), and Revlon magnate Ronald Perelman...
...merger were a TV series, then everything up to now would be just the pilot. Consider the potential plot twists. For a start, the CBS and QVC boards do not convene (separately) to discuss the merger until July 13. "It's not like the board is coming in tomorrow ratifying to do it," says a TV industry executive who is close to both Diller and Tisch. "It's not coming in for another 10 days! You got the July Fourth weekend -- what do you think is going to happen over that time? A lot of meetings. You can name...
...chairman Laurence Tisch and QVC head Barry Diller said "the Tiffany network" would almost certainly go ahead in its surprise merger with the home-shopping giant. The result, to be finalized July 13 barring unforeseen snags, will be an altered TV landscape in which a top-rated network has substantial interest in cable. Investors are buying in: even before the official announcement, CBS stock shot up $48, to $311, and QVC's rose...
Sprint, the U.S.'s third largest long-distance carrier, confirmed that it was holding merger talks with France Telecom and Deutsche Telekom, the state-owned telephone companies of France and Germany. Sprint only recently broke off merger talks with Electronic Data Systems Corp...
...designs the School. The idea for the chapel's shape comes from the dean's childhood, Aguilar says. And it lends insight into a man who hates wasting time and is so quick to take the initiative--Whether reforming the Business School curriculum or engineering a hospital merger--that he never lets himself be backed into a corner...