Word: paramount
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...entrepreneurs large and small have seized on VR, hoping to turn Defense Department-bred technology into show-biz profit. Companies from the Hudson River to Tokyo Bay -- the brand names include Paramount Communications, AT&T, Viacom, Sega, Nintendo, Sony, Matsushita, Edison Brothers, Hasbro and Time Warner -- are betting cumulative billions on VR. Christopher Gentile of Abrams/Gentile Entertainment, which is developing a home-VR system in Princeton, New Jersey, predicts virtual game shows by 1996. How about 3-D TV? Shopping by VR? The Home Sex Network? "If someone gets there in the home with the right quality and cost," notes...
Unlike most people with a celebrated clientele, Fischler freely offers his opinions of his customers. Asked about the battle over Paramount, he picks Barry Diller (back booth, Sunday mornings) to prevail. "He's a sharp, bright, aggressive barracuda, but he treats everyone here as equals," says Fischler. Pet peeves include stars accompanied by entourages, such as Sylvester Stallone. "He brought three bodyguards with him and insisted that all the nearby tables be kept empty." Even Schwarzenegger, who has his own restaurant in nearby Ocean Park, isn't spared. "Arnold is a good friend," Fischler says with a sigh...
...pots and all the kettles are black. Viacom had a point when it sued Malone last week, accusing him of "bullyboy" monopolism (Malone not only is the country's largest cable-system operator, but owns significant chunks of a dozen basic cable channels, and with Paramount would get half the USA Network). But Viacom enjoys a pretty monopolistic lock on the music-video business with...
...stock wouldn't continue indefinitely, and he certainly knows, according to a friend, that without a real Hollywood movie studio he cannot be a full-fledged member of Hollywood royalty. Analysts can talk about corporate fit and maximizing shareholder assets all they want, but the latest offer for Paramount is importantly about maximizing Barry Diller's stature among a few thousand residents of West L.A. and Manhattan...
...Paramount battle creates takeover fever...