Word: tci
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Dates: during 1990-1999
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Levin's relationship with Captain Outrageous has improved since 1985. At that time, Turner's grab for the MGM film library left him desperately short of cash. To the rescue rode Malone's TCI and Time Inc. (which later merged with Warner to form the current company). The stakes Turner gave them in return for the bailout, however--18% for Time Warner and 21% for TCI--left him beholden to the companies and unable to make major moves without their consent. When Levin vetoed a Turner plan to acquire NBC last year, Turner publicly complained that Time Warner's treatment...
...Warner, strung out the talks with a long and changing list of demands that threatened to block an agreement. "He asks for everything," says a Time Warner executive. "You never know when he's finished." Levin and Malone hashed out their main differences at a Sept. 9 meeting at TCI headquarters in Englewood, Colorado, followed by a two-hour session last Wednesday at Time Warner offices in Manhattan...
...takeovers, the world's last two international media conglomerates today announced that they would merge. BMCAA Viafox (created out of Bertelsmann, MCA, CAA, Viacom and Fox) agreed to accept a bid of $638 billion in cash and stock from Disony GETCITWest (formed from a fusion of Disney, Sony, GE, TCI, Time Warner and Westinghouse). The new entity, which now controls all entertainment on film, TV, CD, video, telephone and computer, will be called, simply, Diller...
...million. But he may also want a sweetener. "Malone is a genuine genius,'' says Tom Southwick, pub lisher of Denver-based Cable World magazine. "His frictionless mind will find a way to make this work to satisfy his own shareholders.'' He is bargaining, for example, to ensure that TCI will have access to Turner and Time Warner shows...
...that today's giants seem to be chasing an ever expanding market, never quite sure which technologies will come out ahead. The 500-channel world may not be imminent, but as new distribution systems like digital broadcast satellites and digital cable come into use, programming outlets will multiply. TCI's John Malone, who heads up what has long been the nation's largest cable company, is choosing to highlight the red-hot Internet, investing in his own Internet company as well as the Microsoft Network. "There is a growing distrust of one-way, packaged mass media," says Mark Stahlman...