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...quest for films, TV shows and other programming to run on the much anticipated electronic superhighway. Companies now feel compelled to bulk up to colossal size to compete with giants like Time Warner or huge telephone-cable-TV combines like the proposed merger of Bell Atlantic and Tele-Communications...
...bidders might come forward and push the price of Paramount as high as $100 a share. But many experts on corporate value argue that Paramount is already overpriced at its current level. According to court papers in the case in Delaware, John Malone, the chairman of cable-TV giant Tele-Communications Inc., testified in a deposition that "one would have a hard time paying more than $75 a share" for Paramount. Malone is no casual observer: he reportedly offered Davis $70 a share for Paramount three years ago. Malone had also backed Diller's bid for Paramount through...
...staggering $9.5 billion counteroffer. Paramount stockholders could almost be heard sighing at the thought of their potential profits. In a counterassault with personal overtones, Viacom chairman Sumner Redstone fired back with an antitrust suit accusing one of Diller's chief backers, John Malone, the head of cable-TV powerhouse Tele-Communications Inc. (TCI), of monopolizing the cable industry...
Sega, meanwhile, has made a couple of deals that could prove prescient. In one, Time Warner and Tele-Communications Inc. have agreed to create a special Sega channel on their cable-TV systems that would give subscribers access to 50 games each month. In another important pact, Sega has allied itself with AT&T to create a special cartridge called the Edge 16 that would enable Sega Genesis owners to compete with similarly equipped players anywhere in the world over ordinary telephone lines...
...Communications look like a marriage made in heaven. The merged company, to be called Paramount Viacom, would unite Paramount's film and television studios with Viacom's cable systems and its networks such as MTV and Nickelodeon. Result: a global giant primed to compete with heavyweights like Time Warner, Tele-Communications Inc. (TCI) and Rupert Murdoch's News Corp. in everything from making movies to building an interactive electronic highway into the home. "It's absolutely the best fit" of all the recent media mergers, says Frank Mancuso, former president of Paramount and now head...