Word: murdoch
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...deal about the way journalists live now. It reminds us yet again of the death of the press lords -- the Hearsts, the Luces, the Lord Copper of Evelyn Waugh's barely fictional Fleet Street -- men who knew their own opinions and imposed them on the media they ran. Rupert Murdoch, buccaneer owner of Fox and much else of the world's communications business, seemed to be a throwback to those spacious days (spacious for owners). But even his empire is so segmented and authority in it so delegated that the people who run its component parts have to call...
...heaven. The merged company, to be called Paramount Viacom, would unite Paramount's film and television studios with Viacom's cable systems and its networks such as MTV and Nickelodeon. Result: a global giant primed to compete with heavyweights like Time Warner, Tele-Communications Inc. (TCI) and Rupert Murdoch's News Corp. in everything from making movies to building an interactive electronic highway into the home. "It's absolutely the best fit" of all the recent media mergers, says Frank Mancuso, former president of Paramount and now head...
...Murdoch's burgeoning media power has been setting off political alarms. In Britain, where, in addition to his TV interests, Murdoch controls one-third of the circulation of the country's national daily newspapers, critics complain that his voice threatens to drown out all others. "It's not healthy for democracy, and it's not healthy for competition," says Robin Cook, a Labour Party spokesman. But in nondemocratic Asia, some experts draw the opposite conclusion about the acquisition of STAR TV. "This has considerable political, social and cultural implications," says Anne Thompson, a media analyst for Mees Pierson Securities...
...Marshall McLuhan's vision of the global village, media like television and radio are a form of message as well. Yet today technology is uniting the functions of TVs, phone systems and computers, since digitized data streams can provide voice and image messages to them all. Murdoch thus plans to focus on proprietary entertainment and information, rather than on building delivery systems that could become outdated fast. "We see ourselves absolutely as creators of software, making and packaging entertainment," he says. "And the same holds true for news . . . Satellites are just part of it -- they're what's there...
...Murdoch now plans to quit the acquisition game for awhile. "There's really no company that I want to buy that I can see out there," he says. "Quite honestly, we're not negotiating." He also needed time to get ready for his daughter's wedding, which took place last Friday night...