Word: mogul
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King Kong was roaring after last week's announcement. Matsushita has some $16 billion in cash but plans to borrow much of the MCA purchase cost, which leaves the company with cash to buy up more properties at distressed prices. Said David Geffen, the music mogul whose 10 million shares of MCA stock were suddenly worth some $660 million, nearly twice their value three months ago: "This will be the most acquisition-minded company in the world...
...many hits can a movie mogul squeeze into a box office? The crunch of high- profile December releases, each intended to be a bonanza, will be more frenzied this year than ever. Rocky V and Home Alone started fast out of the gate. Here's the morning line on some of the hopefuls yet to come...
...years he was one of Britain's most respected newspaper editors, first of the Sunday Times of London and then of the daily Times. But in 1982 Harold Evans was forced out after a much publicized clash with the paper's new owner, Australian-born press mogul Rupert Murdoch. Last week the media wheel of fortune took an ironic turn. In a shake-up that had the New York City publishing world abuzz, Evans was named publisher of Random House, the nation's largest producer of trade books. Among his first assignments: editing the memoirs of Rupert Murdoch...
...began in the lab, - where she studied the effectiveness of the protein interferon in treating an AIDS-related cancer, these days Krim, 64, works mostly in the public arena as a fund raiser and lobbyist. Her mission: to replace ignorance with knowledge and compassion. As the wife of movie mogul Arthur Krim, she has also enlisted the likes of Elizabeth Taylor and Barbra Streisand. "I use my contacts because it's my duty," says Krim, who so far has raised $40 million for research. After all, she adds, the way wealthy societies deal with AIDS "will measure to what extent...
Portman is not the only highflying mogul to feel the harshness of a downward real estate cycle. In London and dozens of U.S. cities, the commercial- property market is reeling. Hundreds of empty office towers and abandoned construction sites dot downtown neighborhoods. In most places there is no new construction. Office rents are plunging, and vacancy and delinquency rates are soaring. Overleveraged developers are being forced to refinance their loans and offer sweetheart deals to prospective tenants -- free rent for a year, say, with an exercise room thrown into the bargain. Declares Richard Peiser, director of the Lusk Center...