Word: overing
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Dates: during 1980-1989
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The latest agreement replaced a March merger proposal that called for Time to acquire Warner in a swap of 0.465 shares of Time stock for each Warner share. But some on Wall Street had complained that the deal gave Time shareholders no immediate financial reward. "The marketplace has told us...
Some investors nonetheless expressed outspoken support for the deal. Said Gordon Crawford, a money manager at the Los Angeles-based Capital Group, the largest institutional owner of Time shares: "If you put Time and Warner together, you have what I think will be the greatest media and entertainment company in...
The Time-Warner combination would take on a heavy load of new debt, as much as $14 billion. The company (estimated total revenues: $10 billion) would have an estimated cash flow of $2 billion, which would be tapped for loan payments. "These are great organizations with very good cash flows...
Four years ago, Bentsen turned 80 acres of his 2,200-acre spread into an experimental breeding ground for a pair of endangered black rhinos. Zoos are cramped. Bentsen's expansive pastures offer the South African-born animals most of the comforts of home. "This is fine rhino country," says...
Falwell admits that when he temporarily took over the Praise the Lord organization after Jim Bakker was forced out by a rancid sexual scandal in 1987, donations to his Old Time Gospel Hour fell $5.3 million. By 1987, the Moral Majority had so dwindled that Falwell resigned as president. Atlanta...