Word: tisch
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Dates: during 1990-1999
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...largest institutional investors expressed unhappiness over these events. They saw Tisch as a shopkeeper and not the right kind of dreamer. "It's that vision thing," says Harold Vogel of Merrill Lynch. "His idea of a vision is another year of winning the ratings war, and that's it. That's not the way you grow a network." The only thing that was growing at this network was the list of jokes about it. Rush Limbaugh recently referred to "the three major networks -- four, if you count...
...quick, happy fix for two media barons under pressure. Diller gets to make a network grow into a giant of cable, broadcasting and only he knows what else (theatrical movies? video games? TV serials for home shoppers?). And CBS gets Diller. In essence, to secure an heir, Tisch bought a company. And a legacy. "Larry gets to walk out," says the TV-industry executive, "not as a failure, but as someone who took the company and turned it around. Now he's a winner: he's probably $400 million ahead of his original investment, and he's still...
...rival swains are surely on the prowl. Right now CBS looks like a pretty blond in a lowcut dress who goes to a singles bar to announce her engagement. The leaking of the news so far in advance of the board meeting suggests at least that Tisch intends to consider other offers, which would further inflate the stock. One CBS executive admitted that Tisch went public with the merger news because "he fervently believes in doing a deal that makes the best sense for the shareholder. If the shareholders end up determining that there's a better deal, then . . ." Then...
...those with a taste for both melodrama and irony, it would be appealing if Tisch -- widely considered the duller of the two men -- were cunning enough to use Diller as bait for an even more robust suitor. Why, it would be the stuff of network television. Greed! Lust! Power! Infighting! Backbiting! The Barry and Larry Show, with a few mystery guest stars, could be CBS's hottest program this summer...
...LAURENCE TISCH...