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This is hardly the smooth navigating you've been led to expect on the so- called information superhighway. Neither Stargazer's shortcomings, however, nor the collapse of Bell Atlantic's proposed merger with Tele-Communications Inc. in March seems to have dampened the enthusiasm of the company -- or the rest of the telecommunications industry -- for the superhighway venture. Stargazer, which expects to serve up to 1,000 customers by early next year, is just one of four Bell Atlantic pilot projects, and it joins several dozen similar tests being patched together across...
...Time Warner's shares. But more came from traders reacting to a sudden storm of rumors that Seagram's president, Edgar Bronfman Jr., had finally decided to go for an outright takeover. Rumors endowed Bronfman with a long string of potential allies (several phone companies, the cable-TV firm Tele-Communications Inc. and such Hollywood powers as superagent Michael Ovitz and QVC chief Barry Diller) and even set a potential price: $55 for each of the 322 million Time Warner shares that Seagram does not already own. One story had Bronfman taking time at his wedding reception this year...
John Malone, Tele-Communications Inc. chairman and Barry Diller ally in the Paramount battle. Engaged in a love-hate relationship with Viacom -- currently talking to Sumner Redstone about buying Viacom's cable systems while fending off Viacom's massive antitrust suit. Also testily pulled Viacom's the Movie Channel from TCI's cable systems...
...Smith and John Malone were sitting in their respective offices last Tuesday, both watching the same show: a C-SPAN broadcast of the Federal Communications Commission hearing on cable-TV rates. Smith, the chairman of Bell Atlantic, was in his Arlington, Virginia, office; Malone, the boss of cable giant Tele-Communications Inc., was at TCI headquarters in Denver. Both executives were appalled as they watched the FCC announce a 7% reduction in cable rates, on top of a 10% rollback ordered last year. Malone immediately telephoned Smith. "Ray," Malone said in an emotionless voice, "this is a bigger hit than...
Citing the FCC cable ruling, Bell Atlantic and Tele-Communications Inc. canceled their plans to join forces in what would have been the world's largest merger and a breakthrough in the race to build the allegedly coming "electronic superhighway." Dispute over price also played a role in aborting the deal, which was valued at up to $33 billion...