Word: rca
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...acquisitions. More than 4,000 of those unions, worth a record $190 billion, took place last year. After most of the buyouts, the merged company eliminates staff duplications and unprofitable divisions. In the past six years, for example, General Electric spent $11.1 billion to buy 338 businesses, including RCA, a $6.3 billion acquisition. During the same period, GE shed 232 businesses worth $5.9 billion and closed 73 plants and offices...
...optical cable will be jointly owned by 29 separate North American and European communications companies, among them AT&T, RCA, MCI, ITT and Western Union. AT&T, which has a 37% stake in the venture, is in charge of building the first 3,161 nautical miles of the cable, to a point in the Atlantic Ocean near Continental Europe. There the cable will fork into two lines, one each to Britain and France, which will be built by communications firms from those countries...
SHOSTAKOVICH: Symphony No. 5 (RCA). Soviet grandeur meets American dynamism in Leonard Slatkin's explosive reading...
...company less than one-third its size, Capital Cities Communications, for $3.5 billion. The chairman of the merged company, Thomas Murphy, has since trimmed 615 of 14,900 jobs. In June, General Electric absorbed front-running NBC (1985 advertising revenues: $2.7 billion) by purchasing the network's parent, RCA, for $6.3 billion. GE Executive Robert Wright will take over as NBC's president and CEO this week; he is expected to launch his own austerity program. The biggest factor in broadcast television's changing climate is that the networks no longer enjoy the hefty automatic annual increases in advertising rates...
...lawyer by training, Wright began working for GE in 1969. He has been a close Welch ally since 1973, when he joined the GE plastics group that Welch then headed. Wright is said to have been a major behind-the-scenes force in organizing the merger of GE and RCA. His background suggests a distinct change from the relaxed management style and well-established Hollywood connections of Tinker, who moved the network from the ratings basement to No. 1 during his five-year reign...