Word: overpayed
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Dates: during 1990-1999
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Scouting Report Gerald Levin was faulted for buying cable systems, but that proved a smart bet. Only thing missing is a major network, and co-chair Ted Turner lusts after NBC. But Levin, happy with the WB and cable nets, isn't eager to overpay...
...struggle between Sumner Redstone's Viacom and Barry Diller's QVC to acquire Paramount. The winner in this fight will almost certainly be a loser because the winner will overpay. Overpaying is a major symptom of show-business fever. Whatever the wishful rationalization of the day -- magazines and cable TV need the synergy of movies and records (Time and Warner, 1989); hardware needs software (Sony and Matsushita buying Columbia Pictures and MCA/Universal, 1990-91); the information superhighway needs content (everyone, 1993-94) -- it is almost axiomatic that when people come down with show-business fever, they pay a premium...
...think of our vacation in more romantic, personal terms. We're looking for sensual, extended gratification." In other words, Disney World is about tightly scripted smile-button fun for the kids; Las Vegas, despite the new theme-park accessories, remains the epicenter of the American id, still desperate to overpay schmaltzy superstars like Barbra Streisand, still focused on the darker stirrings of chance and liquor...